Section 735.320  Fees

To the extent permitted by law, the Treasurer shall permit participants to absorb the processing fees associated with electronic payment services or pass the processing fees to constituents. Processing fees shall be publicly available and disclosed to public agencies prior to enrollment. Processing fees will be established through the competitive procurement of the processor.  Processing fees may include, but are not limited to:

a)         Cost of interchange rates, dues, assessments, and any other pass through fees from the issuing credit card bank and the card networks;

b)         Fees collected by the processor for the authorization, clearing, and settlement of credit card transactions and electronic check payments; and

c)         Fees paid to the Treasurer by the processor for the program administration, pursuant to Section 735.300. Administrative fees paid to the Treasurer shall not exceed the product of 25 basis points multiplied by the monthly processing volume, excluding transaction fees.