Visa card for grants accounting??

The Great American Gene Company geneco at ix.netcom.com
Thu Jan 2 16:32:25 EST 1997


In <djt2-0201971454540001 at path22285.path.cwru.edu> djt2 at po.cwru.edu
(Dennis Templeton) writes: 
>
>I bet the vendors would flip for this, being able to get their money
>faster than the "net 30 days" hassle.

Dear Dennis:

It is interesting to hear your perspective.
I can assure you that many vendors will not flip. We are currently
negotiating with VISA for a credit card account simply because of the
pressure we are getting from many of the University purchasing
departments.  Unfortunately, VISA/MASTERCARD will cost us about 5%. 
Guess who ends up paying it?  We will not reduce our employees pay by
5%, so the only real alternative is to raise prices to cover the cost
of the VISA charges.  In addition, we have learned that VISA is placing
a positive prohibition on all electronic transactions.  We have been
given an affadavit, which we must sign, stating that we will conduct NO
VISA or MASTERCARD related business by either email or by through the
web.  Never mind that this undercuts nearly the entire customer base
wishing us to accept VISA/MASTERCARD in the first place.  The same
pressures on University purchasing departments to go to a
VISA/MASTERCARD accounting system for small purchases, also is on them
to conduct as much business as possible by internet.

We are currently seeking a waiver on the requirement to shun all
internet transactions for VISA/MASTERCARD purchases.  Failing that, we
will withdraw our application for a VISA/MASTERCARD account.

The folks at VISA would have you, as well as the purchasing
departments, believe that we can't wait til you get your new VISA card.
The reality is very different. 

Sincerely,
Mike MacDonell, Ph.D.
Chairman, Ransom Hill Bioscience/Great American Gene Company

-- 
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