Credit card processing for in-person and ecommerce-based payments are both a technology and a campus financial process. Technology Services partners with the university’s Accounting Services department to provide secure and reliable credit card processing services.
All credit card processing must be PCI-DSS (Payment Card Industry – Data Security Standards) compliant per Visa and MasterCard requirements to be a merchant.
- PCI-DSS is a framework of security regulations and protocols created by the big names in the credit card industry. To meet this standard, your staff, Technology Services, Accounting Services and the technology upon which it all rides must be accountable for the security of the transaction.
- This short (96 second) video explains the entire credit card merchant and PCI process well.
Timing
The timing to get this up and running is mostly outside of the university’s control. Also, it will take a while to do your part of the security standards requirements.
Cost
Costs to operate as a card merchant include
- a percentage of your transaction
- a per transaction fee
- annual security auditing requirements
- hosting fees from service providers
- a share of the overall university maintenance to remain PCI-DSS compliant