The following notice was emailed to students at Indiana University-Purdue University in Indianapolis today:
"The credit card payment method is becoming prohibitively expensive because of transactions fees charged to the university. In order to continue to accept credit cards, payments made with MasterCard, Discover, and American Express on student accounts at IUPUI (Indianapolis) will be assessed a 2.75% 'convenience fee' by the third party vendor on the payment amount effective 1 August 2010. Unfortunately, because of limitations imposed by VISA, we will no longer be able to accept VISA as a payment method, effective 1 August 2010."
This Indianapolis Observer is aghast! At least IUPUI could have the integrity not to disguise the charge as a "convenience fee". Yikes!