Docstoc

Classification

Document Sample
Classification Powered By Docstoc
					                                                                           Classification
                                                                           Number: 2.2.31

                                                                           Page 1 of 2

                                                                           Date Issued: 8/99; 4/00;
                                                                                        5/01
SUBJECT: ACCEPTING CREDIT CARDS
APPLICABILITY: TOTAL UNIVERSITY

Departments interested in accepting credit card payments should initially contact the Cashier
Area of Student Accounting and University Cashiering Services in the Eagle Student Services
Center to receive information regarding procedures to initiate a credit card merchant agreement.

An application and contract must be completed and approved before any payments by credit card
may be accepted in a department. Campus departments are not authorized to negotiate directly
with the University’s depository bank or a credit card company to set up a credit card merchant
agreement/contract. This process is centralized on campus in the area of Student Accounting and
University Cashiering Services. Centralization of credit card agreements allows the University to
obtain the lowest possible discount rate with each credit card company for all departments. An
informational sheet listing all procedures and guidelines will be provided by Student Accounting
and University Cashiering Services.

All credit card transactions must be processed through the appropriate credit card terminal or
software package as instructed by Student Accounting and University Cashiering Services. Any
department wanting to accept credit cards through the internet (web application) must contact
notify Student Accounting and University Cashiering Services to receive information and pricing
for the eCommerce provider and payment processor under contract with the University. Student
Accounting and University Cashiering Services will facilitate the initial implementation phase of
the eCommerce product. and receive written approval from Internal Audit before processing a
transaction. All credit card transactions and processes/procedures are subject to review by
Internal Audit.

In an effort to maintain consistency and to provide better customer service campus-wide,
departments approved to accept credit card payments must honor all of the four major credit
cards (MasterCard, Visa, Discover and American Express).

If you have any questions regarding credit card payments, please contact Student Accounting and
University Cashiering Services at (940) 565-3225.

SECURITY
Credit card numbers and related information shall be kept in a secure location. The credit card
numbers shall not be printed on the receipt provided to the customer. Credit card numbers and
related information shall not be downloaded or stored on a university network or computer.

DISPUTES/CHARGESBACKSCHARGEBACKS
                                                                            Classification
                                                                            Number: 2.2.31

                                                                            Page 2 of 2

                                                                            Date Issued: 8/99; 4/00;
                                                                                         5/01
Disputes/chargebacks from cardholders will be mailed directly to Student Accounting and
University Cashiering Services. The information will be faxed to the departmental contact. A
reply and all support documentation must be returned in writing within two (2) working days.
It is the merchants’ responsibility to maintain all documentation on credit card transactions. Any
questions regarding disputes/chargebacks should be directed to Student Accounting and
University Cashiering Services.


DEPARTMENTAL DEPOSITS
Credit card deposits must be processed within 5 working days. The amount transmitted to the
bank (batch settlement) should correlate to the amount recorded to the general ledger (cash
receipt). All credit card deposits are deposited into the appropriate departmental accounts by the
Financial Reporting Department. The department should verify all credit card transactions are
deposited accurately by reviewing the daily detail transaction reports produced from EIS.

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:3
posted:5/31/2012
language:English
pages:2