Credit/Debit Card Usage for Payments
The University is committed to keeping tuition and mandatory fees low and in order to continue this strategy, we need to reduce the cost of doing business wherever possible.
In our efforts to provide our students with a cadre of payment options while maintaining and reducing the cost of doing business, the University has contracted with TouchNet, a third-party company, to provide credit/debit card processing services for student accounts via their PayPath system. Through this service, those who wish to remit their payment via a credit/debit card are afforded additional levels of security and confidentiality.
For this service, TouchNet will be assessing a 2.85 percent nonrefundable processing fee (minimum $3.00 charge) to cover the credit/debit card transaction costs assessed on all credit/debit card student account transactions. This change is effective January 2, 2019.
This change will include the following:
- A 2.85% ($3 minimum) nonrefundable processing fee will be added by TouchNet to all credit and debit card payments for student accounts. Two separate transactions will appear on your credit/debit card statement. One transaction for the student account payment and one transaction for TouchNet’s processing fee. For example, if a payment was for $1,000.00, the credit/debit card transaction would be $1,000 payment to the university and a second transaction for $28.50 for the processing fee and be reflected on your credit/debit card statement.
- Credit and debit card payments will no longer be accepted over the phone, by mail, fax or in person. There will be payment kiosks located in the USBS cashier lobby for students on site who wish to pay by debit or credit card and the nonrefundable processing fee will be charged for these transactions.
- There will be no processing fee for eCheck (ACH) transactions.
Paper checks may be mailed to the University of Memphis, P.O. Box 1000, Dept. 313, Memphis, TN 38148-0313.
- Cash, checks, money orders and cashier checks will continue to be accepted in person at the USBS Office.
- Before or after-hour payments can be placed in the secured depository slot outside the USBS Cashier Office.
If you have questions about this change or any of the payment options available, please visit Credit/Debit Card Processing Fee FAQs.