COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Jill Olsen, Administrative Services Director
SUBJECT:Title
Approve the Agreement with Paymentus Corporation to Provide the City a Payment Platform for City Customers (Jill Olsen)
Body
FUNDING SOURCE:
Various Departments
PURPOSE:
Approve the Agreement for cash receipt payment platform for the City and City customers.
BACKGROUND:
The City has chosen to implement a best-of-breed software solution approach. Paymentus offers a comprehensive solution that allows City customers to use one payment solution for most (court is excluded) City transactions. This solution will be our point of sale software that interfaces with the various City software solutions. This solution also provides a transactional reconciliation between the credit card merchant provider and the transactional cash receipts.
COMMUNITY IMPACT:
Paymentus offers users the opportunity to make payments by the most current methods including via online, mobile applications, and telephone. The solution will also provide outbound call reminders to customers that a bill is due. This is provided on a secure Internet interface provided at the Paymentus Corporation.
FISCAL IMPACT:
Appropriations are available for credit cards and merchant services in the amount of $224,185 for fiscal year 2019. The solution does require a change of merchant providers. The City will pay on a transactional basis to Paymentus versus a merchant provider and credit card exchange fees. Paymentus provides an online payment portal which will eliminate the need for the GOVNow software module, for which we pay approximately $30,000 annually. Staff estimates a potential $20,000 in annual saving with more customers paying electronically. Additionally, using one payment solution should save a significant amount of staff time on daily cash transactional reconciliations.
ATTACHMENTS:
Master Service Agreement
SUGGESTED MOTION:Recommended ACtion
I move to award the Agreement for the City’s payment solution to Paymentus Corporation.