Steps to Becoming a Credit Card Merchant
Step 1: Departments or units should evaluate their business plan, revenue, and merchant fees when determining which option best meets their needs. Departments or units may want to have a discussion with the PCI Compliance Officer to review all aspects of credit card acceptance.
Step 2: Requesting Department will submit a request for a new Merchant Account via a ServiceNow Request Form. The form requires the department/unit to describe their objectives, select the best application for credit card acceptance, provide contact information for the Primary PCI Contact and the Business Services representative, provide Banner index accounts for revenue and merchant fee, etc.
Step 3: The request then goes through an approval workflow review which includes the department head, the financial officer, the Controller's Office, the PCI Compliance Officer and the Card Office.
Step 4: The Merchant Account will be requested and set up.
Step 5: Any hardware and software will be ordered, if applicable.
Step 6: Application and hardware set up and configuration details will be worked out with supporting personnel.
Step 7: Each new Merchant Account will be tested before going live. Tests include: a cash register roles check, network security testing and verifying accurate money flow.
Step 8: Department should submit updated Cash Handling Procedures to Treasury Services that include the new merchant information, methods for collecting payments from customers, procedures for refunds and reconciling.
Step 9: Begin accepting credit card payments from customers.