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ITEM: AUTHORIZATION TO ENTER INTO AN AGREEMENT WITH PAYMENTUS CORPORATION TO PROVIDE ELECTRONIC BILLING, MULTI-CHANNEL PAYMENT PROCESSING, AND NOTIFICATION SERVICES
REQUEST: Authorization to enter into an agreement with Paymentus Corporation to provide electronic billing, multi-channel payment processing, and notification services in the amount of approximately $177,026.00.
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EXPLANATION: Tyler Technologies, Inc., the Village’s current Enterprise Resource Planning (ERP) software system, is decommissioning their maintenance and support of BridgePay Network Solutions LLC’s Billing Module, which serves as the Village’s Utility and Non-Utility electronic billing system. In response to Tyler Technologies’ decision, Village Staff engaged Paymentus Corporation in an effort to provide an alternative electronic billing solution that meets the Village’s needs, while providing sufficient maintenance and support coverage.
In addition to the traditional payment methods afforded by the Village’s current electronic billing system, Paymentus Corporation’s hosted payment portal allows for customers to choose from an expanded selection of mobile friendly payment methods such as, Pay-By-Text, PayPal, Venmo, PayPal Credit, Apple Pay, Google Pay, and Interactive Voice Response (IVR). Paymentus Corporation currently provides electronic billing services to several municipalities located throughout South Florida, including, but not limited to, the City of West Palm Beach, the City of Stuart, and the City of Coral Springs.
Paymentus’ fee schedule is based on a set per transaction fee for each payment type processed through the payment portal website. There are no implementation costs or other on-going costs paid by the Village for these services. The actual cost associated with this agreement is dependent upon the number and types of transactions that Village customers initiate. There are no “convenience fees” or other direct charges to customers as the fees are absorbed by the Village. The estimated cost of $177,026.00 is based on historical transaction counts and, in accordance with the Purchasing Manual, these services are exempt from competition. In an effort to obtain competitive pricing, Village Staff compared Paymentus’ proposal against multiple active, competitively solicited and awarded State of Florida municipal agreements. The initial term of the agreement is for a seven (7) year period and the agreement contains additional one (1) year renewal periods.
Staff requests authorization to enter into an agreement with Paymentus Corporation to provide electronic billing, multi-channel payment processing, and notification services in the amount of approximately $177,026.00.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: Funds have been allocated in the FY 2025 Utilities Customer Service Operating Budget.
WELLINGTON FUNDAMENTAL: Responsive Government
RECOMMENDATION: Authorization to enter into an agreement with Paymentus Corporation to provide electronic billing, multi-channel payment processing, and notification services in the amount of approximately $177,026.00.