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Why is a 2.75 percent convenience fee being charged for all online credit card payments for Housing bills?

April 26, 2017charged convenience credit card fee HOUSING online PAYMENTS percent

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Why is a 2.75 percent convenience fee being charged for all online credit card payments for Housing bills?

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The University has contracted with CASHNet SmartPay to process online credit card transactions for the Division of University Housing. The 2.75 percent convenience fee covers the cost of CASHNets services as well as the fees charged by the credit card companies. The Division of University Housing has decided to require those who make payments using a credit card to cover the cost of this service rather than adding the cost to Housings room rates.