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- SmartPay - filtered back through CashNet, ACH the money through SmartPay back into bank account - only a single bank account could be used
- retail terminal
- Stanislaus uses Elavon as a credit card type for its retail terminal. You could possibly have a credit card type for each campus that would direct it back to their account. Would have to absorb that fee or charge back to the customer. In theory, each credit card terminal can be designed to be sent to a specific bank account. One potential drawback is that other credit card processors like Elevon introduces higher fees than SmartPay.
- Lauren Magnuson (Unlicensed) is following up w/CashNet about retail terminal configuration - see below
3. How long did the current integration take to set up the web portal with CashNet, and how many personnel were involved in development?
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Because each campus has its own web portal, individual dollar amounts paid can be reported out by campus. On the auditing side, we keep records of all transactions that filter down through a general ledger. All money is in a liability account and paid out through liability, as it's not funds for our own campus.
Follow-up question w/CashNet rep regarding retail terminals:
Q. I have a question about how “Retail Terminals” could be configured that would enable payments to go to different bank accounts. Basically, we are having some difficulty figuring out the reconciliation process, whereby we have all payment go to a single bank account, that would then need to be reconciled and paid out to individual campuses. Ideally, we’d be able to, in a single e-market, configure the e-market in such a way that charges paid for a Northridge charge were paid to a Northridge bank account, a San Jose charge was paid to a San Jose bank account, etc. Does that make sense? Can you give me some more information about retail terminals, and whether we could configure an emarket to send certain types of transactions to different bank accounts?
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