Success Story

Union College

We saved this college over 20% per year in processing fees and increased the rate of successful payments by 40%.

Union College

Before

After

Background

In general, nonprofits don’t ACTUALLY receive non-profit credit card processing fees.  Most banks and processors charge them “flat rate pricing” which means that the nonprofit doesn’t receive the benefit of reduced processing costs.

The nonprofit school was losing over $100,000 every year in chargeoff student accounts.  Payment plans that didn’t complete before the student graduated.

The nonprofit school was using old technology to process payments at their bookstore and cafeteria.  Their legacy POS system kept crashing and they didn’t have their data safeguarded.

They weren’t receiving support from their processor.  They were getting gouged in non-compliance fees.  $150/month on ALL EIGHT (8) of their merchant accounts.

How Did We Do It?

We implemented TRUE nonprofit pricing, averaging 10% lower cost of each transaction, due to their nonprofit status (most schools and nonprofits don’t know this).

Provided the support and service they needed to finally become PCI Compliant.

Safeguarded their data by tokenizing all of their transactions.

Improved collection of recurring payment plans by over 40% with effective billing and invoicing strategies.  **Auto updater of Visa/MasterCard transactions.**  Recurring payment plans would automatically update, leading to successful payments.

Shifted most transactions FROM parents/students calling in over the phone to make their payments (inefficient and a hassle), TO easy and convenient 24/7/365 electronic invoice payments.  Improved collection rates and saved them a lot of time and money.

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Union College

Union College

We saved this college over 20% per year in processing fees and increased the rate of successful payments by 40%.

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