Accepting Cards for Payment
Accepting credit cards for payment provides a service to your customer by offering a convenient method to pay for goods and services. However, if your department is currently evaluating the decision to become a credit card merchant, there are several factors to consider. Accepting credit cards for payment involves risk of loss, processing fees, and requires compliance with data security requirements. Departments accepting payment cards are responsible for all expenses associated with payment card merchant accounts, including but not limited to equipment costs, banking fees, and cost(s) of compliance with the Payment Card Industry Data Security Standards. Campus departments should become familiar with all of these factors before making the decision to become a merchant.
The University Payment Card Coordinator is the best source of information for the requirements involved in accepting credit cards. Before making any arrangements or purchases related to credit card acceptance services and equipment, departments must consult and receive approval from the Payment Card Coordinator. The Payment Card Coordinator will review departmental needs and recommend the most efficient and cost effective method available.