Automating your payment processing has never been easier.

Each gateway is integrated with your school’s website and can be customized by your staff to adopt the look and feel of your school’s site.

By simply entering some basic personal and financial information, the payer can select to pay by credit card, ACH debit, or debit card. Sallie Mae transmits the credit card settlement information to the designated merchant processor for clearing and deposit to the school’s bank. In addition, Sallie Mae will transmit an ACH file to a designated financial institution for clearing and settlement. 

Benefits

• Flexible payment options: Your school can choose the payment options to offer your constituents (credit cards, debit cards, and/or ACH transactions), and you have the option of charging convenience fees.
• Single sign-on: The EPG allows for real-time transfer of demographic data, dollar amount, payment event, and payment options. This eliminates the need to reverify the student and to enter transaction data on the payment pages.
• Real-time verification: The system provides real-time validation on credit cards. This includes verifying the card number, sufficient credit on the account, and address. For ACH transactions, the system validates the routing transit number and can be configured to query a negative database to restrict payers who have written bad checks to the school.
• Real-time data transfer: On completion of a transaction, the gateway can be configured to post the transaction data to the administrative systems in real time.
• Remittance file: We are able to provide your school with a remittance file that provides detail on each transaction by department. Therefore, if a unique identifier (e.g., general ledger account number) is needed to track each transaction, we are able to provide this level of detail in the remittance file.
• Transaction tracking: The system is able to track and report transactions in real time, allowing Student Financial Services to verify whether or not a student initiated a transaction immediately.
• Customized reporting: Each department using the EPG can obtain customized transaction and settlement reports.
• Archiving: Payment and transaction history is available online for 12 months. The system archives transaction data for seven years.
• Rapid deployment: Business Office Solutions can implement your system within a few weeks.