Finance Committee Approves New Electronic Payment Processing Contract Saving $2M Annually

The North Texas Tollway Authority (NTTA) has approved a new electronic payment processing contract that is expected to save the agency approximately $2 million annually. During the board meeting on August 20, 2025, members discussed the transition from traditional checks to more convenient electronic payment methods, highlighting the growing preference among customers for digital transactions.

The new contract, which maintains a processing fee of about 2.2% of total revenue, will also introduce features such as automatic updates for expired credit cards, enhancing customer experience by reducing transaction rejections. This capability is particularly significant as it allows for smoother processing and ensures that payments continue without interruption.

Board members noted that while checks are slightly less expensive on a per-transaction basis, the convenience of electronic payments is a priority for customers. The NTTA aims to leverage these new services to optimize their network usage and reduce costs associated with updater fees, which are incurred when credit card information changes.

The motion to approve the contract was unanimously passed, reflecting the board's commitment to improving operational efficiency while catering to the evolving preferences of tollway users. This decision is poised to enhance the overall payment experience for customers while delivering substantial savings for the authority.