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UVAFinance is now using a third-party service to provide payment card administrative services to UVA schools and units that take electronic payments.
Due to the growing technical complexity required for the position as well as the increased complication of payment platforms and processors, UVAFinance made the decision to secure the services of Arrow Payments, a company that currently provides administration services to a number of major universities including Cornell, Northeastern, Purdue, the University of Maryland, and many others.
Not much should change for our users across Grounds. Arrow will be working behind the scenes to resolve issues on our behalf. Please continue to send your merchant-related questions and requests as normal. Responses will be monitored both by Arrow and the UVAFinance team.
Learn more about the switch to Arrow Payments by viewing Bill Define and Logan Hobbs' presentation to Fiscal Administrators from March 1 at the 1 hr 39 min mark, available on the UVAFinance website under "Fiscal Administrators."
It's intriguing to see UVAFinance adopting third-party services for payment card administrative tasks, especially with a reputable partner like Arrow Payments. Given the complexity of modern payment systems and the necessity for secure transactions, this seems like a wise move. On a related note, does UVAFinance also consider LEI number registration as part of enhancing their financial transparency and security? LEI could add an additional layer of trust and verification, which might be beneficial for all parties involved in electronic payments at UVA.
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