ٺƵ has started collecting partial reimbursement for security costs associated with credit card transactions at 170 campus vendors such as the Coffee House and bookstore — vendors whose credit card transactions are managed by the university.
“In recent years, the credit card industry has increased standards and security requirements to protect customers from theft and fraud,” said Associate Vice Chancellor J. Michael Allred, in charge of campus finances. “But these changes have also increased the cost of handling credit card transactions.”
So, as of Jan. 1, the campus started collecting about 4.5 cents per transaction. It is not a sales tax, but a fee to cover part of the cost of maintaining a computer network that complies with security standards required by the industry.
Allred said the fee amounts to 28 percent of what the university pays to manage credit card transactions on behalf of vendors.
Sodexo food outlets manage their own credit card transactions and are therefore not subject to the campus fee. Nevertheless, Sodexo incurs its own costs to meet security standards.
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Clifton B. Parker, Dateline, (530) 752-1932, cparker@ucdavis.edu