1996 AGN JUN 18 I11 - Laserfiche WebLink

Browse Search

r— CITY OF COLTON AGENDA REPORT For Council Meeting of June 18, 1996 TO: Honorable Mayor and City Council / APPROVAL: Nabar Enrique Martinez, City Manager/Yi' FROM: Anna A. Vega, Finance Director—. SUBJECT: Approval of Financial Service Agreements with Citizens Business for Credit/Debit Card Payments and Check Authorization DATE: June 10, 1996 BACKGROUND At the February, 1996, Utilities Commission Meeting, staff was requested to research systems to allow City residents and businesses the option of paying City bills by credit or debit card. At the March, 1996, meeting, the Utilities Commission recommended release of a Request For Proposals with proposals to the City due April 17, 1996. Proposals were received from Citizens Business Bank (formerly Chino Valley Bank), PayFlex Electronic Money Systems, and Southwest Financial. After careful review and consideration of all three proposals, Citizens Business Bank was selected as the preferred vendor. These were presented to the Utilities Commission on June 10, 1996, for recommendation to City Council. DISCUSSION/ANALYSIS The use of credit cards and debit cards as an option for paying municipals bills has been increasing in recent years. This is due to certain benefits: 1. Funds from credit card sales are available within 48 hours; 2. Funds from credit card sales are virtually guaranteed; and 3. Customers are provided with the added convenience of a payment option. In addition to credit card and debit card payment services, staff is recommending that the City participate in the Shared Check Authorization Network, (SCAN). By participating in "SCAM", a nationwide database of major retailers is accessed to verify if the customer has a history of writing bad checks. This service will potentially reduce the number of bad checks the City receives. Item No. //