UM Central Marketplace
The UM Central Marketplace is an e-commerce tool that provides UM departments and organizations the ability to manage and operate online storefronts and compliant payment systems for campus-developed web applications.
What is the UM Central Marketplace?
With the UM Central Marketplace, your campus department or organization can accept online payments and process payment refunds.
There are several incentives to using the UM Central Marketplace. A few of these include:
- When you use the UM Central Marketplace, there is no longer a need to write out physical receipts.
- When a customer pays through the system, an email receipt is automatically generated and emailed to both your administrative contact as well as the customer.
- There are no funds that need to be taken to the Bursar on a daily basis. The funds are transferred into your UM account.
- There are minimal setup and administrative needs. There isn’t a need for an IT person in your department to manage your items. Your reports are generated and sent to you as funds are disbursed. Final reports are pulled and sent to you at the close of your event cycle.
- Departments must be sensitive to the issues surrounding accepting credit card numbers for payment. Credit card information should not be written on paper or sent by email. Using the UM Central Marketplace allows for the customer to go online and purchase items/register for events themselves. This eliminates the potential for departments and the university to be held liable for improper usage or storage of credit card numbers.
How to set up an item in UM Central Marketplace
- View test site to ensure that the UM Central Marketplace will work for your needs.
- Thoroughly read, agree to and sign the UM Central Marketplace User Agreement.
- Complete the Item Request Form in its entirety.
- Submit both the signed User Agreement and Item Request Form to marketplace@olemiss.edu
- Your UM account will be charged a $100 administrative fee and work will begin on your item.
- You will receive an email from Marketplace Administration letting you know when your item is available for review and approval in the test environment.
- Go the link sent to you and complete at least one purchase before approving your item.
- (You will receive detailed instructions on this process in the email.) At this point, any questions or concerns you have should be addressed.
- DO NOT APPROVE IF YOU ARE NOT COMPLETELY SATISFIED WITH THE ITEM.
- Once you are completely satisfied with your item in test, respond back to the email stating your approval.
- You will receive an email that your item is successfully in the live UM Central Marketplace Site and available for purchase.
- Once purchases begin to occur, you will get real time email notifications as items are purchased.
- You will receive email notifications when fund transfers are made into your UM account. These emails will come with details of the transactions attached. (Note: Fund transfers do not occur in real time.)
- After your item is disabled (no longer available for purchase), you will receive a final report with a detailed list of all purchase that occurred.
- Your item will continue to be in the system in a disabled state and can be enabled (made available for purchase) again at a later time. For future enabling of an item, please email marketplace@olemiss.edu
How much does it cost to use the UM Central Marketplace?
When you are sure the UM Central Marketplace will work for your needs, you will submit an Item Request Form. At this time, you will be charged an administrative fee of $100 via G/L transfer and work will begin on your item. This $100 fee will collect the full name, address, phone number and email address from the customer. More information can be obtained from your customer for additional fees. Details on additional fees can be found below in the Fee Structure section. If your item setup requires additional fees, you will be notified of the full amount when you receive the email notification stating your item is ready for review.
The credit card companies and the bank assess monthly merchant fees for all credit card transactions. To cover the cost of these fees, your department is charged a fee of 2.5% per transaction revenue collected. This fee is deducted from each revenue transfer before it is distributed to your department’s account.
Fee Structure
| Basic Item Setup: Name, address, phone # and email | $100 |
|---|---|
| Additional Piece of Information: i.e. t-shirt size or institution name | $25/each additional piece of info |
| Credit Card Fees: | 2.5% of each transaction |
Other Information about Marketplace
If you are accepting registrations and payments for tangible items (i.e. t-shirt, poster, honor cord), you will need to contact Maggie Smith in the UM Accounting Office before requesting a Marketplace account or accepting payments via Marketplace to determine whether or not you should charge sales tax on your item. Please see the Collection and Remittance of Sales Tax policy.
All Item Request Forms should be submitted at least 30 days prior to the date you wish for item to be available for purchase. The item will be available in a test environment for your review and final approval at least 1 week prior to your item being available for purchase (as long as the 30 day deadline is met).
Receipts will be generated upon the completion of each Marketplace transaction. These receipts will be sent via email to both the registrant and the event contact email addresses listed on the application.
Incoming funds from credit card transactions will not appear in your university account in real time. Funds are received at the UM Bursar and are distributed every 10-15 days.
Reports generated for each item will be provided to the department’s main contact for the event at the end of each month during a registration period. A final report will be generated after the event has been disabled in the system (once the registration period ends).
Refund requests should be submitted via email to marketplace@olemiss.edu Request must include product name, order ID number, original transaction date and amount.
Frequently Asked Questions
No. Student organizations do not have oversight by the UM Bursar, therefore, they cannot be set up to use the University’s Central Marketplace.
Credit card information should not be stored on any computer or other electronic device.
Click here to see other UM Items that are set up in our test site.
Visa and Mastercard are accepted forms of payment. Discover and American Express are NOT accepted by the University of Mississippi.
Acceptable Account Types
- BA 25 Account – preferred
- BA 70 Account – in some circumstances
Unacceptable Account Types
- BA 10 Account
- Any account that has a “119” in the 4th-6th digit (For example, 250119383A is not acceptable as these are for course fee revenues and related expenses only.)
If you are accepting registrations only and not receiving payment for ANY tangible items, you will not be responsible for charging or remitting sales tax.
Contact
If you are student and have a question about charges on your bursar account or about a payment that was made on your bursar account, please email bursar@olemiss.edu.
If you have a question about your department’s online store or a purchase that you made through a university online store, please email marketplace@olemiss.edu.