Treasury Reporting is responsible for coordinating all University bank card processing and is the sole point of contact with the University's financial institutions and bank card processors. Our merchant account provider gives the University the ability to accept credit cards in payment for goods and services. Departments accepting credit card payments will maintain and operate in accordance with these requirements and are responsible for those costs of operation as well as the credit card discount fees. All University participants will comply with the Payment Card Compliance Policy and the requirements of the and Payment Card Industry Data Security Standard (PCI DSS). Compliance is subject to periodic review by Audit and/or Treasury Services.
1. Departmental sales information is transmitted electronically to the authorized merchant credit card provider. Credit card terminals are the most common devices used for this purpose. The merchant credit card provider receives authorization and payment from the cardholder's bank.
2. The daily net sales will settle and funds are then deposited into the University's electronic deposits bank account.
3. It is the responsibility of the department to:
4. Disputed Claims: Treasury Reporting or the credit card organization (merchant account provider for Visa/Mastercard or directly by Discover and American Express) will notify the department regarding the nature of the dispute, who is lodging the dispute and the amount in dispute.
5. Fees are assessed by the authorized merchant credit card provider, based on a competitive bid process. These fees include costs for transaction processing, chargebacks and supplies.
6. Electronic commerce transactions will be subject to additional administrative costs of operation related to this process and are charged by Technology Services.
1. Departments must not store complete credit card information on any computer, database, or server. Departments must ensure that all of their employees and business processes comply with this requirement.
2. All card processing activities must comply with the Payment Card Industry Data Security Standard (PCI DSS). Departments must ensure their employees (including student employees) are aware of the importance of cardholder information security.
3. If you are directed by the authorization center to recover a credit card, it is your responsibility to comply with the request if it does not put the employee at risk.
4. The University does not recommend accepting unsigned cards. If the department chooses to do so, the department accepts all risk for those transactions.
5. Departments will give proper credit for returns and adjustments by performing the proper function on the terminal.
6. Departments will maintain all card documentation (i.e. sales draft) containing card account numbers in a “ secure ” environment limited to dependable, trustworthy, and accountable staff with documented need for access.
7. Record Retention: Departments will keep an original, imaged copy or a microfilm copy of each sales draft and each credit draft, maintaining the current and three previous fiscal years' records.
i. Secure storage facilities include file cabinets or safes kept in locked office or secured warehouse facilities.
ii. This may also require physical space to be secured via the use of employee badges, swipe card/key access and/or video camera monitoring of secure storage area.
8. Treasury Reporting will provide the initial payment card acceptance training for all new departments as they are approved.