E-Commerce
What is E-Commerce?
CVEA broadly defines E-Commerce as accepting credit and debit cards, accessing account information and accepting bill payment through a secure website.
What is CVEA's E-Commerce program?
In early 2005 , the Board of Directors participated in extensive education and discussion regarding E-Commerce. The Board's intention was to respond to consumers who would like to use E-Commerce options without negatively impacting rates.
CVEA began offering online access to account information in June 2005. Members can log onto a secure website to view their current bill and historical information. From the site , electric bills may be paid directly from your checking or savings account using your bank routing and account numbers. CVEA also began accepting debit cards in our offices, affording a convenient way to withdraw money directly from your bank account to pay your bill.
Why doesn't CVEA accept credit cards?
At this time, credit cards are not accepted due to the high cost of fees assessed by credit card companies. Members can, however, pay their electric bill in our offices using a debit card.
What is the difference between a debit card and a credit card?
Debit cards withdraw money directly from your bank account. The fees associated with these cards are fixed. By accepting the cards in our offices, CVEA can limit the processing fee s . Credit card companies charge a percentage of the transaction as a fee for processing the payment, so the cost of accepting credit cards is much higher than debit cards.
What are the costs associated with accepting debit cards?
Debit cards have a fixed per transaction fee. This assumes that the card is run as a debit card, where you are required to enter your pin. If a debit card is not differentiated from a credit card, it can incur the same percentage fees as the credit card.
Why does CVEA accept debit cards in the offices but not online?
The cost of processing debit cards in the office can be limited to the fixed per item transaction cost. The software CVEA uses to offer E-Commerce does not differentiate between debit and credit cards. Consequently, if debit cards were accepted online, the percentage based processing fees associated with credit cards would be applied to debit card payments.
Is paying online secure?
CVEA understands the importance of keeping your information secure. To access your account, you will be transferred to a secure website and be required to enter identifying information to enter the site. You can make a payment or access account information with confidence knowing that our secure socket layer software (SSL) is the industry standard and among the best software available today for secure commerce transactions. It encrypts all of your personal information so that it can not be read as it travels over the Internet.
In Summary
E-commerce is a complicated subject. The intention of CVEA's E-Commerce program is to offer members convenient ways to pay their bills without negatively impacting rates.
CVEA welcomes your questions and feedback. Please email Mary Ellen Bedrick or call 822-3211 or 835-4301.