Credit Card Transactions
Collecting on invoices is more customer-friendly now that we offer the option of credit card payments. Credit card payments are generally received and applied quicker than by any other method, such as check, money order, or even cash.
While credit card transactions assist in receiving timely payment, processing the transaction results in processing fees. The transaction fee varies per month, but it should remain between 2-3% of the total amount charged. This fee is assessed by the credit card processor, and is distributed to the Billing Department where the credit card payment was applied.
For this reason, all Billing Departments are responsible for providing account information for Accounts Receivable (AR) to apply the appropriate monthly transaction fees. If the account has changed or should be updated from what we have on file, please contact us to make the correction.
The Billing Department should not receive credit card payment information, but to be sure all areas are following the appropriate stadards, please be sure to review the University Credit Card Guidelines.
For additional information about the University of Virginia's Accounts Receivable Department, please contact us at: , or call 434-924-7180, FAX 434-924-1034.