Pushing eChecks Instead Of Cards
Brittani Lusk writes for the Deseret Morning News how Brigham Young University and other Utah-based colleges and universities are pushing their students to use echecks rather than credit or debit cards for making their tuition payments.
In the case of BYU, it no longer accepts credit and debit card payments directly but has pushed their acceptance off to a third party that charges students a non-refundable service fee of 2.75%. Lusk reports on comments by BYU treasurer Richard White who said that prior to the surcharges, 30 percent of students paid tuition with checks and 70 percent paid via bank card whereas now 80 percent pay with either paper or electronic checks and only 20 percent still pay with a card. As a result, BYU says it's saving $900,000 in credit card acceptance fees.
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