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Credit Card Acceptance Considerations

A department wishing to apply for a credit card merchant account has many things to consider:

  1. Potential revenue. If the sales and time and effort will justify the revenue opportunity. It might be in the department's best interest to accept only cash and checks or to use the USU Credit Card Rental Program, due to the workload involved with administering and reconciling a merchant account. If the event/conference/sales will justify the investment, then establishing a merchant account for credit card acceptance may be the best option.
  2. Frequency of Sales. How may transactions will be performed in a month? What is the cost of the hardware? If the activity/event/conference will be held only one time, or sales of items will be for a limited time, it may be in the department's best interest to leverage the USU Credit Card Rental Program instead of purchasing equipment and becoming a Merchant.  Departments may also decide to accept only cash and checks due to the costs and workload involved with administering and reconciling a Merchant account. 
  3. Technical Support. Depending on the method of credit card acceptance, departments will need varying degrees of technical support from their IT staff. Merchants may also need technical support to complete the required annual PCI compliance attestation. 
  4. Department Staffing Levels. Acceptance of credit cards requires administration of the account, monitoring, and reconciling. Departments must consider availability of staff for these functions.
  5. Payment Collection Methods. When reviewing and considering which payment collection method to adopt, consider what payment collection method best suit the business needs and the needs of the customer.