Credit Card Processing: Difference between revisions

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Policy No.: '''6050'''<br />
Policy No.: '''6050'''<br />
Effective Date: '''01/10/07'''<br />
Effective Date: '''01/10/07'''<br />
Revised Date: '''12/28/12'''<br />
Revised Date: '''06/30/14'''<br />
Reviewed Date: '''12/28/12'''<br />
Reviewed Date: '''06/30/14'''<br />
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<br />
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'''<big>Credit Card Processing Policy</big>'''
'''<big>Bank Card Processing Policy</big>'''
== Basis for Policy ==
== Basis for Policy ==
It is the policy of the University of Nebraska Medical Center (UNMC) to establish good internal controls over the handling of credit card transactions to adequately safeguard and properly record UNMC assets and to protect the employees who handle those assets.&nbsp; Further, it is the policy of UNMC to comply with all [http://www.nebraskalegislature.gov/laws/laws.php state regulations] and the Payment Card Industry Data Security Standards (PCI/DSS).
It is the policy of the University of Nebraska Medical Center (UNMC) to establish good internal controls over the handling of credit card transactions to adequately safeguard and properly record UNMC assets and to protect the employees who handle those assets.&nbsp; Further, it is the policy of UNMC to comply with all [http://www.nebraskalegislature.gov/laws/laws.php state regulations] and the Payment Card Industry Data Security Standards (PCI/DSS).
== Authority Over Credit Card Transactions ==
==Definitions==
It is the policy of the University of Nebraska Medical Center that all credit card transactions on the UNMC campus will be under the control of the Controller.&nbsp; Web based credit card transactions must utilize the standard UNMC application.
Bank card is defined as credit cards, debit cards, ATM cards and any other card or device, other than cash or checks, issued by a bank or credit union that is normally presented by a person seeking to make payment.  The process of paying is considered as the transaction.<br />
== Credit Card Reporting ==
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Credit card collections received by departments for UNMC will be submitted along with cash/check collections and a Cash Remittance Report to the [http://info.unmc.edu/cashering.htm Finance Cashier].
Payment Card Industry Data Security Standards (PCI/DSS) are guidance for organizations to assist in providing data security on payment card transactions.
== Authority Over Bank Card Transactions ==
It is the policy of the University of Nebraska Medical Center that all credit card transactions on the UNMC campus will be under the control of the Controller. Web-based bank card transactions must utilize the standard UNMC application provided by Information Technology Services.  
==Bank Card Reporting ==
Bank card collections received by departments for UNMC will be submitted along with cash/check collections and a Cash Remittance Report to the [http://info.unmc.edu/cashering.htm Finance Cashier].
== Internal Controls ==


== Internal Controls ==
Departments are required to establish the following internal controls over credit card transactions:
*Departments will maintain written detailed internal procedures describing the proper handling of credit card transactions.
*Under no circumstances should credit card information be entered and stored on any computer database.&nbsp; UNMC has made the decision to outsource the credit card processing.&nbsp; UNMC ITS Application Services has a module which is utilized to bridge the web application which requires a credit card payment and the credit card processing company.
== Auditing Cash Funds ==
== Auditing Cash Funds ==
All credit card transactions will be reviewed periodically and confirmed annually to assist in maintaining proper accountability and internal control. In addition, written departmental credit card procedures will be reviewed for conformity with UNMC policies, State Treasurer regulations, and Payment Card Industry Data Security Standards.
All credit card transactions will be reviewed periodically and confirmed annually to assist in maintaining proper accountability and internal control. In addition, written departmental credit card procedures will be reviewed for conformity with UNMC policies, State Treasurer regulations, and Payment Card Industry Data Security Standards.<br />
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For more detailed information, see the [[Credit Card Handling Procedures]] or contact the [mailto:ckirchner@unmc.edu Controller].
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For more detailed information, see the [[Bank Card Handling Procedures]] or contact the [mailto:wlawlor@unmc.edu Controller].<br />
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This page maintained by [mailto:dpanowic@unmc.edu dkp].
This page maintained by [mailto:dpanowic@unmc.edu dkp].

Revision as of 12:37, June 30, 2014

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Policy No.: 6050
Effective Date: 01/10/07
Revised Date: 06/30/14
Reviewed Date: 06/30/14


Bank Card Processing Policy

Basis for Policy

It is the policy of the University of Nebraska Medical Center (UNMC) to establish good internal controls over the handling of credit card transactions to adequately safeguard and properly record UNMC assets and to protect the employees who handle those assets.  Further, it is the policy of UNMC to comply with all state regulations and the Payment Card Industry Data Security Standards (PCI/DSS).

Definitions

Bank card is defined as credit cards, debit cards, ATM cards and any other card or device, other than cash or checks, issued by a bank or credit union that is normally presented by a person seeking to make payment. The process of paying is considered as the transaction.

Payment Card Industry Data Security Standards (PCI/DSS) are guidance for organizations to assist in providing data security on payment card transactions.

Authority Over Bank Card Transactions

It is the policy of the University of Nebraska Medical Center that all credit card transactions on the UNMC campus will be under the control of the Controller. Web-based bank card transactions must utilize the standard UNMC application provided by Information Technology Services.

Bank Card Reporting

Bank card collections received by departments for UNMC will be submitted along with cash/check collections and a Cash Remittance Report to the Finance Cashier.

Internal Controls

Auditing Cash Funds

All credit card transactions will be reviewed periodically and confirmed annually to assist in maintaining proper accountability and internal control. In addition, written departmental credit card procedures will be reviewed for conformity with UNMC policies, State Treasurer regulations, and Payment Card Industry Data Security Standards.

For more detailed information, see the Bank Card Handling Procedures or contact the Controller.

This page maintained by dkp.

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