Credit Card Processing
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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.
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