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Regular Village Board meetings are typically held at 7:00 p.m., the first three Tuesdays of each month in Council Chambers of Village Hall (room 201), 123 Madison St. When a Regular Meeting falls on a holiday, the meeting typically is held the following night. The Village Board also meets in special sessions from time to time. However, dates and times of Special Meetings can vary and may change.

File #: RES 20-011    Name:
Type: Resolution Status: Passed
In control: President and Board of Trustees
On agenda: 1/13/2020 Final action: 1/13/2020
Title: A Resolution Approving Expenditures For Annual Credit/Debit Card Merchant Processing Services with Chase Paymentech in an Amount Not to Exceed $45,000 for Fiscal Year 2020
Attachments: 1. Resolution- Chase Paymentech Annual Spending

Submitted By                     

Steven Drazner, CFO

 

Reviewed By

LKS

 

Agenda Item Title

Title

A Resolution Approving Expenditures For Annual Credit/Debit Card Merchant Processing Services with Chase Paymentech in an Amount Not to Exceed $45,000 for Fiscal Year 2020

 

End

Overview

Overview

The Village utilizes the services of Invoice Cloud Inc. for water/sewer/refuse invoicing and as well as payment processing for online transactions.  In conjunction with Invoice Cloud, Chase Paymentech is linked with Invoice Cloud and acts as the behind the scene processor of all the credit/debt card transations.  

 

Body

Staff Recommendation

Approve the Resolution

 

Fiscal Impact

This expense has been appropriated in Finance operating budget 1001.41300.101. 530675 and 5040.41300.101.530675

 

Background

Chase Paymentech is the company utilized by Invoice Cloud Inc and handles the processing of all online payments originating through the Invoice Cloud portal.  Similar to Invoice Cloud and Heartland Payment Systems, the amount of expense incurred from Chase Paymentech will depend on the amount and volume of transactions paid online.   

 

Alternatives

N/A

 

Previous Board Action

N/A

 

Citizen Advisory Commission Action

N/A

 

Anticipated Future Actions/Commitments

N/A

 

Intergovernmental Cooperation Opportunities

N/A

 

Performance Management (MAP) Alignment

N/A