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Finance Committee <br />Date: 02/22/2011 <br />By: Diana Lund <br />Finance <br />Title: <br />Credit Card Analysis <br />Information <br />Item #: 4.2. <br />Background: <br />Customers, residents, and staff have been inquiring regarding the city of Ramsey accepting credit cards for <br />payments on utility bills, building permits, abatements, and various fees. <br />Offering the acceptance of credit cards has a fee. The fee could be absorbed by the city, thus reducing overall <br />revenue collections, or passed onto the consumer via higher permit and/or utility fees. <br />An analysis of three credit card vendors is attached. The three vendors were chosen based on their experience and <br />interfacing capability with our current utility billing vendor as the city bills over 8,000 residents and thus a high <br />potential of future credit card use. <br />This will be the city's first look at the credit card process. After initial discussion, and agreement of a potential <br />vendor, staff will be prepared to bring that vendor to a future worksession for full council input. <br />Recommendation: <br />Discussion only. <br />Funding Source: <br />Not applicable at this time. <br />Council Action: <br />Finance Committee Discussion only. <br />Credit Card Vendor Analysis <br />Credit Card Spreadsheet <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 02/17/2011 08:45 AM <br />Form Started By: Diana Lund Started On: 02/14/2011 08:02 AM <br />Final Approval Date: 02/17/2011 <br />