Quote:
Originally Posted by GreekOne
To clarify, the $37 fee added to my daughter's bill is not a credit card fee. I did not pay her invoice with a credit card. It was paid before the due date with a check in the mail. The chapter should not have incurred any transaction fees. Our alumnae chapter uses Member Planet and it costs a $2-3 handling fee. This is reasonable if deemed necessary for processing payments for chapters. But the amount of money that Greek Bill is raking in for their services is outrageous.
Let's say there are 150 women in a chapter each paying $37/semester, multiplied times 150 collegiate chapters x 15 NPC groups using their services, that's almost $25M dollars in transaction fees/year!!! Their service is not worth that much! I am sure there has to be a more reasonably priced alternative to this company.
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With the numbers you list above, you are talking about service revenue (which is very likely their primary revenue source since most systems like this are Software As A Service and charge by user rather than with big software license fees) of $25mm for a full service accounting system that services 337,500 accounts. People pay more than $74 a year just to do their state and federal taxes online with many providers, so the notion that $74 a year per person for all invoicing and payments and everything else is kind of silly. Stuff isn't free, people.
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