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CRM 205 - Credit Card Payments

The policies on this webpage have been streamlined and reformatted, and are now available on the University Policies webpage. We ask that you use this new resource, as future changes, additions to or eliminations of these policies will only be made to the University Policies webpage, and policy manuals you may have used in the past will no longer be updated. Note: On March 31, 2018, this resource will no longer be available. Please update your bookmarks to the University Policies webpage.

Credit Cards Accepted:

Three Kinds Only - MasterCard, VISA and Discover cards are the only credit cards that may be accepted by the University as payment for goods or services.

  • At Authorized Locations Only - Only those units authorized by the Office of the Treasurer  may make credit card sales. Campus Business Services or Campus Cashiers may authorize a location to make sales on an infrequent basis. See CRM302 - Deposits for Credit.
  • For Internet/eCommerce Transactions - Only those units authorized by the Office of the Treasurer may process internet/eCommerce transactions.
  • For Mail, Telephone and Fax Orders - These three kinds of credit cards may be accepted for mail, telephone and fax orders, subject to the authorization requirements of the credit card company. Authorization is given at the time the credit card number is entered into the electronic terminal.

Limitations on Sales Amounts - All credit card sales are processed electronically and are subject to zero-dollar floor limits (maximums) set by the credit card companies. This means that every sale must be approved by the respective credit card company. Approval is given (or not given) upon entering the sale into the electronic terminal.

Preparing a Credit Card Sales Draft:

Credit card sales must be processed on a credit card sales draft form which is prepared by the credit card electronic terminal.

Required Entries -

  • Customer's credit card number and the total amount of sale. The card number is entered into the electronic terminal either by swiping the card through the terminal or by manually entering the card number as in telephone or mail order sales.
  • Total amount of sale, including sales tax. 
    Authorization number.
  • Cashier's initials.
  • Customer's signature. For mail, telephone or fax orders where customer is not present, University must NOT sign the sales slip. Indicate on signature line something similar to "per telephone order". For mail or fax orders the customer's signature and card information should be retained with the University's copy of the sales slip.

Disposition of Copies - The Customer/Card Holder copy must be given to the customer and the other copy retained by the merchant location for not less than two (2) years. (See CRM 302)

Note - Disposition of the Customer/Card Holder copies for mail or telephone orders is at the discretion of Campus Business Services.

Recording Credit Card Sales:

Data on credit card sales are transmitted electronically to the University on the next business day, based on codes entered at the merchant location. No CRR is prepared. Departments are responsible for providing the corresponding MO Code and PeopleSoft account code to Campus Accounting Services so transactions can be properly credited to the accounting system.

Revised: 04-04-06