Due to regulations surrounding Visa’s convenience fee program, BYU-Idaho was unable to accept payments from Visa cards until recently.
“The university would have to absorb the convenience fees or the merchant fees, assessed by the Visa program,” said Brian Wright, the bursar at BYU-Idaho.
This act alone would cost the university millions of dollars a year. But in November 2012, Visa modified their rules, now allowing universities to charge a percentage amount for the convenience fee program.
“One of the main concerns and issues that we had from many parents and students was ‘why don’t you take Visa?’ and now we do. Now we’re able to do that,” said Wright.
After only 2 weeks, Visa accounted for 61% of financial transactions made online.
“It’s easier for me to just go and like pay with a Visa card,” said Shelly Arora, a junior studying mechanical engineering.
“Some people, they have better access to that. It’s more convenient, more versatile,” Charis Emrich, a senior studying English.