Any agreement or contract to process or receive revenue from payment card activity by members of the University, University-related community or Medical Center requires prior approval. See policies at FIN-037: Governance and Compliance Requirements for Payment Card Activities for the University and Medical Center Policy 0335: Use of Payment Cards at the Medical Center.
Any unit anticipating NEW revenue from any source, directly or indirectly, must have prior approval for new Revenue Generating Activity. Refer to this website for more information and links to policy and procedure.
The operating entity is required to adhere & Payment Card Industry Data Security Standard (PCIDSS as promulgated by the Credit Card Industry). For additional information on PCI see https://www.pcisecuritystandards.org/
The operating entity is responsible for all costs of accepting credit cards including transaction fees, website development, equipment, chargebacks, disputes, fees, and penalties related to noncompliance with University Policy and PCI standards.
The ability to accept credit cards is a privilege. University Payment Card Services reserves the right to suspend or terminate a merchant number, and thus end credit card transaction acceptance, if necessary, to insure compliance with University Policy and PCI Compliance regulations.
We encourage you to review the current Payment Card Policy, Fee Tables, Training requirements and Procedures as part of your business plan before applying for a credit card merchant number. This information is available on the Financial Reporting & Operations website under Payment Card Services.
