(Amended 3/06; 10/12; 4/14; 12/17)
Effective December 2017, this policy has been revised. For the most current version without redlining, return to V-4.
Any unit may request authorization to become a University of Iowa credit card merchant by completing a Payment Card Merchant Agreement form Merchant Account application request (https://finapps.bo.uiowa.edu/MerchantAccount/). Upon approval by the University Associate Controller and IT Security Office, Treasury Operations will assist the new credit card merchant by providing the necessary information and training required to comply with the University's credit card handling policy and payment card industry data security standards. The procedures outlined in the policy are mandatory when processing, recording, and reconciling credit card sales. Under no circumstance should a unit contact any credit card processor to obtain the ability to accept credit cards for the sales of goods and/or services.
Any unit accepting credit cards also must be in compliance with the University of Iowa cash handling policy. Noncompliance with either policy may result in the loss of privileges to process credit card payments and the revocation of credit card merchant status.
Refer to the credit card acceptance and security guidelines document located at:
https://treasury.fo.uiowa.edu/policies-and-procedures/credit-card-accept...