Transact Payments - eMarkets
Transact Payments (formerly known as CASHNet) is the university’s cashiering and eCommerce system. BYU utilizes the Cashiering and eMarket modules for processing over-the-counter payments and online eCommerce payments, respectively. This page discusses the eMarket module. See additional information regarding cashiering on the Transact Payments – Cashiering page.
Transact Payments eMarkets provide a 24/7 web presence to allow for easy online eCommerce. These sites process credit card payments, are PCI compliant, and accommodate both PC browser and mobile views. Funds collected from these eCommerce purchases are automatically deposited to a specified account/chartblock and posted to the general ledger. The following types of payments are often collected through an eMarket:
- Conference Registration Fees
- Membership Fees
- Club Dues/Merchandise
- Event Tickets
- Periodical Subscriptions
- Storefront: A Transact eMarket Storefront is a user-friendly website that provides easy eCommerce solutions to the general customer. The entire eCommerce process, including item selection, shopping cart preview, and payment processing occur on the Transact Payments platform/website (cashnet.com). There is moderate control over the user interface (UI), or look and feel of the site, and this can often meet a department’s needs while requiring the least amount of PCI compliance effort from the department.
- Checkout: A Transact eMarket Checkout involves a redirect from an institution’s website to a Transact Payments payment site. The item selection and shopping cart pages occur on the institution’s website, but the customer is then redirected to a Transact Payments website for secure payment processing (cashnet.com). This requires moderate PCI compliance effort, including participating in an annual PCI assessment process managed by Treasury Services. A checkout allows for greater control over the look and feel of the site, as a department’s developers can modify the item selection and shopping cart pages on the institution’s site. Once redirected to the Transact Payments site for card processing, the UI control is limited. Checkouts require web development and programming resources from the requesting department. Mendix is BYU’s recommended, PCI compliant web and mobile application development tool that can be integrated with a Transact Checkout and hosted on the Mendix Cloud. Additional information regarding creating a site with Mendix can be found here: https://mendix.byu.edu/. You can also contract with a third-party e-commerce vendor/service provider to create the customer-facing site. Transact has provided a list of vendors with whom they support eMarket integration (see list in Documents section).
*NOTE: Brightspot is not a PCI compliant platform to integrate with a Transact checkout. See additional information here: https://sites.byu.edu/docs/guides/payments.
Each department is responsible for the merchant services fees incurred with their eMarket websites due to the acceptance of credit card payments. These fees are calculated and allocated monthly and booked to the website’s corresponding GL codes that were provided during the store setup. These typically are in the low 2% range per transaction, but vary depending on the amount paid, the type of credit card used, etc. Please reach out to Braden Stohlton in Treasury Services if you have any specific questions regarding credit card merchant fees (email@example.com).
Transact Payments is integrated with Avalara, a sales tax automating software. This calculates the sales tax based on the customer’s shipping address/destination. All sales that are directed toward an off-campus audience or customers outside of the BYU community and all items sent out of state are often required to charge sales tax. Please reach out to Paul Larsen in the Tax Office if you have any specific questions regarding sales tax.