Nelnet

Nelnet is a secure online e-commerce solution that enables UND to accept and manage online payments.

Departments who accept credit card payments must follow PCI guidelines. Departments who currently accept credit cards should review the Credit Card Acceptance and Processing Policy. Departments who do not currently accept credit cards, but wish to, should contact UND Treasury.

Nelnet is an online platform that facilitates the acceptance of credit card transactions by online storefronts or other third party sites connected through Nelnet integrations. The system accepts payments via Visa, Mastercard, Discover, and American Express.

Nelnet integrates with the University's General Ledger system, ensuring accurate and efficient financial reporting. Revenue collected by online credit card acceptance (through Nelnet) posts daily to the general ledger.

If a department would like to establish an online payment site through Nelnet or set up a Nelnet Connection with a third party software, please contact UND Treasury for guidance and additional information before beginning the process.

Nelnet Connection to Third Party Software

Departments who utilize a third party software to manage an online service must ensure that the third party software connects to Nelnet. This connection allows the shopper to utilize the third party software to shop, but connects the shopper back to Nelnet for payment. Transactions are then recorded to the general ledger through integration between Nelnet and PeopleSoft Finance.

Credit Card Fees

Credit card transactions processed through Nelnet are subject to a fee of approximately 2-4%. These fees are charged back to the department. UND Treasury records the credit card fees monthly via journal entry, ensuring accurate financial tracking and reporting.

Chargebacks

A credit card chargeback occurs when a customer contacts their bank to dispute a charge and asks for the payment to be reversed. When this happens, UND Treasury receives a notification from the bank and forwards the details to the appropriate department. The department can then respond to the chargeback by providing documentation that supports the original transaction.

Chargebacks are recorded in the general ledger through a journal entry. If the chargeback is later overturned and the funds are returned, that reversal is also recorded in the general ledger with a corresponding journal entry.

Questions about Nelnet?

For questions or assistance related to Nelnet, please email UND.treasury@UND.edu.