Credit Card Acceptance/Processing (5.2.5)
The University Cashier, in conjunction with Information Systems and Technology (IS&T), has developed a payment gateway for processing retail, mail/phone orders and e-commerce credit card payments. The Cashier’s System transmits credit card payments to our processor for deposit and automatically updates the Boston University General Ledger System in summary on a nightly basis. The transaction detail is securely stored on the Cashier’s System.
Boston University departments must request approval from the University Cashier to accept credit card payments by completing an application form. If approved, departments are required to utilize the Boston University Cashier’s System; implementation of this process may take up to 60 days. Fees associated with the acceptance of credit cards may be charged to the accepting department’s budget. Under no circumstances should a department contact a credit card servicer directly or begin accepting credit cards without prior approval by the University Cashier.
All individuals authorized to accept credit card payments must securely process, store and dispose of credit card data (paper and electronic media) in order to adhere to the Payment Card Industry (PCI) Data Security Standards (DSS). Credit card data may not be transmitted or stored in any other system, server, personal computer or e-mail account.
Departments must follow the steps below in order to implement credit card processing
- Complete the Boston University Merchant Application for review by the University Cashier.
- Submit the application for review and approval to the University Cashier at email@example.com. Please allow 1-2 weeks for processing of the application.
- If the application is approved, a new merchant account number will be requested and assigned to the department. University policy and credit card processing procedures will be provided. You will be required to have both read and agree to comply with Boston University Policy/Payment Card Industry (PCI) Data Security Standards.
- The University Cashier will provide the necessary equipment and training. The University Cashier reserves the right to charge departments for the cost of any equipment.
- Implementation of this process may take up to 60 days.