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Retail merchants are not the only card-accepting organizations focused on reducing payments costs. Blackboard Inc., provider of card acceptance and security systems for educational institutions, is partnering with cost analytics firm PE Systems to offer an analytic service to educational institutions to identify cost-reduction opportunities.
The partnership leverages the Blackboard Payment Gateway™, a powerful IP-based processing system which provides flexible, scalable and secure payment processing and fraud management services to campuses nationwide.
To date, PE Systems has analyzed over $270 billion
in payment card transactions at over 20,000 client locations, identifying savings opportunities more than 96 percent of the time. Higher education systems working with PE Systems have realized savings ranging from $237,900
during one three-year period to $1.7 million
over a six year period. In each case, the institutions were able to recognize savings without switching their current payment processing providers or established banking relationships and used the savings to fund additional, much needed student services and educational programs.
With educational institutions facing increasing cost pressures, this partnership could be of particular value to an array of institutions.
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