6.4 ERMUSR 09-13-2005 - Laserfiche WebLink

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I 1. INTRODUCTION 16 ABOUT e.service®Gateway I This service provides an easy and affordable way to register for the MasterCard RPPS®Online Biller/Creditor Directory Once registered, your company will be able to receive electronic payments initiated by your customers through bill pay service providers, bill collection agents, and credit counseling agencies Once payment data is received, Vanco Services (Vanco)will transmit the data to I your company in the format of your choice and credit your company's financial institution account for such payments through an electronic funds transfer utilizing the Automated Clearing House(ACH)Network VANCO SERVICES RESPONSIBILITIES I Vanco is responsible for the following • Facilitating your company's registration to the MasterCard RPPS®Online Biller/Creditor Directory, • Transmitting to your company the payment data on the same day it is received from MasterCard RPPS, • Initiating an electronic funds transfer utilizing the ACH Network for settlement of funds into your financial institution account, • Processing any returns received from your company in a timely manner,and I . Providing comprehensive reports for your records IYOUR RESPONSIBILITIES Your company is responsible for the following I • Reviewing all reports provided by Vanco, • Promptly notifying Vanco of any payments that do not apply, • Posting payments to customers'accounts in a timely manner, and I • Entering returns via the Online Service Center(see Section 6) ABOUT MASTERCARD RPPS ppMasterCard Remote Payment and Presentment Service(RPPS)is a vast payment network whereby customers are able to make payments to registered billers through virtually all bill pay service providers, bill collection agents, and credit counseling agencies There are currently thousands of billers nationwide registered on the MatserCard RPPS Online Biller/Creditor Directory I2. FLOW OF FUNDS AND DATA Each e.service®Gateway transaction processed by Vanco has a lifecycle This life cycle begins when the customer initiates a payment through one of several sources and ends with the electronic delivery of payment data and the settlement of funds into your designated financial institution account(see flow chart below) ISTEPS INVOLVED IN THE TRANSACTION LIFE CYLCE: FLOW CHART 1) Customer initiates payment cer . I 2) Bill pay service provider, bill collection agent,or credit counseling agency transmits payment data and funds to Vanco via MasterCard RPPS Bili Pay Service Bill Collection Credit Counseling 3) Vanco transmits payment data to your company in the format of your choice Providers Agents Ag•nc,es I4) Vanco initiates an electronic funds transfer for next-day settlement to your company's financial institution account ru„e,..aYmon,Data i 5) Guaranteed funds credited to your financial institution account MasterCard I RPPS NOTE: Your company is required to post the payment to the customer's account f oa.tvairmeni Data on the same day payment data is received from Vanco,if possible,or no j 11 later than one business day later If for any reason your company is VA N C O rv^.it Payment o.�, unable to post a customer's payment within (3)business after the receipt of payment data,your company is required to notify Vanco of the reason why it was not posted f ;: k ` I