YSU to charge fee for use of credit card

Staff report

Youngstown

Beginning July 1, a 2.75 percent convenience fee will be charged on all credit-card transactions on Youngstown State University student accounts including tuition.

The university says the change is necessary because of increasing costs, changing compliance regulations and to bring YSU in line with practices at other universities in Ohio.

MasterCard, Discover Card and American Express credit cards will be accepted. Visa, which doesn’t participate in the fee structure, no longer will be accepted.

The university will continue to accept payment by electronic check, check, debit card and cash with no fee. Visa debit cards will continue to be accepted.

Bowling Green, Cleveland State, Kent State, Miami, Ohio State, Ohio University, University of Akron, University of Cincinnati, University of Toledo and Wright State charge a credit-card transaction fee and do not accept Visa credit cards.

Neal McNally, YSU budget director, said it is important to note that YSU does not collect or keep any part of the fee. He also said the convenience fee does not apply to retail sales, such as the Bookstore, Kilcawley Center and the Athletic Ticket Office, which also will continue to accept Visa credit cards.

The new rules will eliminate about $300,000 in annual administrative fees paid to credit-card companies by YSU.