Accepting Electronic Payment via UB Marketplace for State Funds

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.

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. 

• 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.