Accepting Electronic Payment via UB Marketplace for State Funds

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UB Marketplace is one of UB’s methods for departments to accept credit and debit card payments (MasterCard, Visa and Discover) and ACH (electronic checks) for state financial transactions other than graduate application fees and tuition deposits over the web.

Best Practices

It is strongly recommended that you:

  • Use UB Marketplace for the collection of fee payments to minimize the risk associated with cash receipt collections. 
  • Review monthly the transactions to your internal accounts receivable record.
  • Utilize SIRI and UB Marketplace Reports to review the revenue from UB Marketplace transactions.
  • Marketplace cannot be used to collect any Category 1 data, except for credit card info.

Creating a Payment Link on Your Website Using UB Marketplace

  • Request service for accepting credit cards over the web by submitting a UB Marketplace Application. A separate request is required for each fee the department collects.
  • When your request is approved, Financial Management sends you a unique GL Code for your product.
You must have an approved rate on file before submitting a UB Marketplace application.

Read more about Developing and Managing Fees .

Your Customer's Experience

  1. On a product page, customers are directed to enter pertinent product information that you require to process their order.
  2. The customer is directed to click the Add to Cart button. 
  3. The customer then can choose to go to their Shopping Cart and check out.
  4. On the Checkout page, a customer will enter their payment information, and if the transaction is authorized, the payee receives a receipt that includes a payment confirmation number as well as any departmental message.
  5. If the transaction is not authorized, the payee receives an error message defining the problem. 

Payment Transaction Records

  • A file is transmitted from UB Marketplace to the university’s general ledger on a daily basis for bank reconciliation purposes and posted to departmental accounts every 15 days. 
  • Departments are not required to complete Cash Receipt Transmittals for UB Marketplace transactions.   
  • The UB Marketplace Orders page provides real time information regarding payments made via UB Marketplace. You can review individual payments comprising the daily or summarized fee deposits for a particular day or for a range of dates. 
  • If your department decides to receive the data electronically, then it is responsible for providing the additional programming required including any integrations needed for the application.

Contact an Expert

Diane Walton.

Diane Walton

IFR, Revenue Accounting and Treasury Management

Financial Management

Phone: 716-645-2603

Email: ubs-marketplace@buffalo.edu

Erin Govern.

Erin Guiffrida

IFR, Revenue Accounting and Treasury Management

Financial Management

Phone: 716-645-2601

Email: ubs-marketplace@buffalo.edu

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