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Shorewood to start applying InvoiceCloud convenience fee for online payments on Feb. 15
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Summary
Staff told the committee InvoiceCloud will handle credit-card processing and apply a 3.5% convenience fee (parking had a temporary 3% fee during a system transition); InvoiceCloud receives the convenience-fee revenue and handles the merchant fees, while the village receives posted fee-inclusive amounts.
Staff updated the committee on implementation of Policy 50 (credit-card policy) and said the village will move to InvoiceCloud’s payment structure on Feb. 15. Under the arrangement InvoiceCloud will charge a 3.5% convenience fee on non-parking payments and will be responsible for credit-card processing fees; for a $500 permit, staff provided a worked example that the total charge to a payer would be roughly $41.50 including fees.
During a short AIM-system transition, the village had charged a 3% convenience fee for parking transactions. For most other fees (licenses, permits, etc.) staff said InvoiceCloud will collect the convenience fee and the card fees so the village will receive the face value of the posted fee without adding monthly remittance work.
Staff said communications about the February 15 start date will appear in the manager’s Friday memo and on the village website and social channels so residents are informed. Trustees asked whether the village profits from the fee; staff confirmed the village does not retain the convenience fee revenue (InvoiceCloud receives it). Staff clarified this is a change in the pay structure with the vendor rather than a new contract.
