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[ Cash and Liability Management ] Credit Card Processing All credit card processing arrangements require the approval of the Treasurer's Office. The University has contracts with ChasePaymentech
(for Visa/ MasterCard), American Express, and Discover
for credit card acceptance. The University contracts
with PayPal (formerly Verisign) for secure web payments.
These are the only University approved vendors. Any
relationship with other vendors must be approved by the
Vice President for Finance. Contact Helen Kreider (hkreider@pobox.upenn.edu)
for assistance with other vendors. Determining the need for a Merchant Account Almost all schools and centers accept payments for a variety of transactions including registration and application fees, memberships, dues, sales, donations, meeting and conference fees, etc. In order to accept credit cards as a form of payment a school or center must either obtain a merchant account through the Treasurer’s office or use a third party that accepts credit card transactions. Before applying for a merchant account you should determine whether you actually need one. Factors to consider include the purpose of the account, anticipated dollar volume, average transaction amount and whether transactions will be made year-round, during the school year or on limited occasions. For limited or one-time conferences, meetings or events please contact Conference Services who can provide credit card acceptance services without the need to open an individual merchant account. Payment Card Industry (“PCI”) Compliance The Payment Card Industry (including VISA, Master Card, American Express and other major credit card issuers) have developed stringent standards to protect card data. These standards can be found at https://www.pcisecuritystandards.org/ along with annual self assessment questionnaires. To review the University’s policy on PCI compliance, see: http://www.finance.upenn.edu/vpfinance/fpm/2000/2006.asp . Every University member that is involved in processing credit card transactions must be familiar with the PCI standards, as well as the University’s policy on PCI compliance and must complete and sign the Confidentiality/Non-Disclosure form which can be found at: http://www.finance.upenn.edu/treasurer/info/PCI_confidentiality_form.pdf. Senior Business Officers are responsible to ensure that completed and signed Confidentiality/Non-Disclosure forms are kept on file locally in their School/Center. Obtaining a Merchant Account The first step in obtaining a merchant account is to fill out a Merchant Account Request (“MAR”) form which is available at http://www.finance.upenn.edu/treasuer/forms on the web. The form must be signed by the requestor and the school/ center’s senior business administrator. Send the signed hard copy and an email copy to the Treasurer’s office to the attention of Jeff McCray (jmccray@pobox.upenn.edu), 3451 Walnut Street, 737 Franklin Building, Philadelphia, PA 19104-6205. Upon approval, the Treasurer’s Office will contact American Express and Discover to obtain merchant numbers for the account. These numbers are then sent to ChasePaymentech who assigns a Visa/ MC merchant number and affiliates these merchant numbers. It takes approximately 4 weeks for merchant account numbers to be assigned. Managing a Merchant Account All credit card payments/fees are credited/charged to a centralized University bank account. There is a daily ledger interface that automates the distribution of payments to departmental accounts. The main merchant number is used to identify University departments. Your budget is credited/charged to the G/L numbers you specified on the Merchant Account Request Form. Each department is responsible for reconciling their credit card activity monthly. You will receive a monthly merchant account statement for Paymentech with credit card activity for all credit cards. You will also receive monthly statements from AMEX and Discover. Detailed transaction statements from Paymentech, American Express and Discover can be viewed on-line. Contact Jeff McCray (jmccray@pobox.upenn.edu) if you need on line access. Review your statements for accuracy. Additionally, you must verify that all activity from the merchant account statement is reflected in your budget. Please note there will be a two-day delay between processing VISA/MC activity and posting. There will generally be a four-day delay between processing Discover and American Express activity and posting.To facilitate reconciling card transactions it is suggested that you assign different CREF’s to Visa/MC, American Express and Discover. Fees There are transaction and service fees associated with processing credit cards as well as set-up and monthly fees for on-line merchant accounts. Credit card fees can be obtained by contacting Jeff McCray (jmccray@pobox.upenn.edu)PayPal -Web Payment Processor PayPal has two web payment process products: Payflow Link and Payflow Pro. Payflow Link is the only authorized product.. PayPal authenticates billing addresses, stores credit card payment information, and provides reporting tools to access the payment information. Credit card numbers for web payments may not be stored on any Penn server. All departments using web credit card processing should review the Penn security guidelines Security Standards for Web- based Applications with Sensitive Data at http://www.upenn.edu/computing/security/standards/wwwsec.html. For information on how to use PayPal web payment processor please reference the following sections: This section describes the "how-to" steps for getting started with web credit card payments.
PayPal has developer and user guides available. They can be viewed on the web or printed using Adobe Acrobat. If you currently have an active User ID name and password: Logon to Payflow Manager at https://manager.paypal.com. If you have not yet registered for your User ID and password, Product User Guides are available from the Treasurer’s office. PayPal Manager This is a PayPal web application which allows you to manage your transactions, print reports, download software, modify your account information, enter your Payflow Link options, etc. Everyone who will be working with the web payment process (both programmers and BAs) should read this User Guide. Payflow Link The Payflow Link User’s guide is targeted to assist the programmer with the software implementation. Large portions of it are also useful for non-programming staff. This is a guide that everyone can understand. It contains such things as
Reporting & Transaction Processing All reporting and transaction processing, such as voids and refunds, are done over the web using PayPal Manager. To access the PayPal Manager application: Logon to Payflow Manager at https://manager.paypal.com Enter Partner Name, Login and Password Click: Login The functions within PayPal Manager are:
The PayPal documentation provides the best information on how to process payments and use the available report options. Refer to the section on User Guides and Manuals to learn how to locate the PayPal Manager documentation. Usage Guidelines This section provides guidelines for the use of PayPal web payments at the University.
Address Verification Address Verification is required in all web applications using PayPal software for credit card payment processing.
Secure Web Site All transactions must be processed over a secure web site. Chase/Paymentech, American Express, and Discover will access and verify the web site URL before issuing an internet merchant account. |
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