Information For Merchants : Letter from the Director
Thank you for your interest in BuckID, The Ohio State University's debit card program. Beginning in September of 1994, the university began a discretionary spending program, the BuckID program, as a convenience to its faculty, staff and students. Under the program, anyone with a university ID card (the BuckID) is able to purchase goods and services at participating merchants. Funds are deposited into accounts at various locations on campus or online; students (or faculty and staff) present the card to merchants and funds are deducted using card readers, which connect to our system.
More than 50,000 students, staff, and faculty use a BuckID account and annual card deposits are approximately $10 million. We expect this figure to continue to increase as the program grows.
In order to participate in the program, a merchant must take the following steps:
- Complete the Merchant Application and be approved for participation by the university. BuckID may not be used to pay for alcohol. Please note the Merchant Agreement prohibits marking up products purchased with BuckID.
- Agree to the terms set forth in the Agreement (A Sample Agreement is available for your review online).
- Purchase a VeriFone vx570 card reader from BuckID.
- Set up VeriFone readers to accept BuckID transactions (completed by BuckID, $400 installation and setup fee).
In exchange for the services provided by BuckID (including operation of card program, account management, advertising, marketing, etc.) the merchant must agree to pay a 4% service charge on BuckID sales to the university. The university provides payment to the merchant on a monthly basis (more frequent reimbursement options are available at a slightly higher commission percentage). Other terms are explained in the enclosed draft agreement.
If you have additional questions, don't hesitate to call me at (614) 292-7240.