Why is the University assessing a 2.75 percent service charge to pay with credit cards?
The University is not accepting credit card payments directly. Credit cards are being accepted by infiNET, a vendor contracted by the University that is charging a fee for their service. • The 2.75 percent rate based on the payment amount for each transaction was determined by our vendor. • The University of Minnesota will not receive any part of the service charge. • While credit card payments offer convenience, the cost to the University was estimated to be approximately $2 million annually. Therefore, the University decided to require those who use this convenience to cover its cost.
