CREDIT CARD ACCEPTANCE
Saint Louis University will accept MasterCard, Visa, Discover,
and American Express bank credit cards for payment of miscellaneous charges
at University locations approved by the Treasurer's Office. Departments are
responsible for the deposit of credit card payments with the Cashier's Office.
Departments processing charges by bank credit card must do so
electronically either using a personal computer-based application or a terminal
and printer.
Valid MasterCard, Visa, Discover, or American Express transactions
may be accepted at approved locations; however, the University is not liable
for improper use. It is the department's responsibility to recover chargebacks
from the customer incurred due to invalid charges.
The University's depository account will be credited within two
business days after the bank card transactions have been submitted to the bank.
Departmental accounts will be credited upon receipt of the Deposit
of Funds form and batch total report in the Cashier's Office.
A fee is charged to the University by the bank for each credit
card transaction. The cost associated with the acceptance of bank credit cards
for payment will be allocated to the departments by the Cashier's Office. Bank
merchant numbers are used to record fee allocations.
To request
authorization to accept bank credit cards for payment, contact the Office of the Treasurer. Questions regarding the posting of credit card transactions to
departmental accounts should be directed to Joann
Grant.
Procedures
Enter the card information into the personal computer or a terminal:
| |
With Card |
- Swipe the card through the card reader.
- Verify the customer name, card number, and
expiration date as it appears on the terminal screen.
- Enter the amount of the charge.
- Verify the transaction has been accepted and a
receipt has been generated.
- Obtain the signature of the cardholder on the
transaction receipt.
|
|
Without Card |
- Enter the card number into the personal computer or
terminal.
- Verify that the customer name, card number and
expiration date as it appears on the terminal screen.
- Enter the amount of the charge.
- Verify the transaction has been accepted.
|
At the end of each business day, submit the batch of daily transactions to the
bank via a modem to charge the customer's bank card and credit the University's depository
account.
- Run a batch report of daily transactions from the personal computer or a terminal.
- Departmental Supervisor: Review the report and verify
all transactions on the report are accurate and appropriate. Initial any credits
identified on the batch report.
- Transmit batch transactions to the bank.
- Complete a Deposit
of Funds form, attach batch total report and forward to the Cashier's Office
for posting to the general ledger and bank reconciliation.
- Maintain detail batch reports and receipt forms in an organized manner in
the department.
Policy owned by: Treasurer's Department.
Revised: Tuesday, 12 Dec 2006Return to IndexPrinter Friendly Format
