New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 60 - INVESTMENT AND DEPOSIT OF PUBLIC FUNDS › Part 8 - ACCEPTANCE OF PAYMENT CARDS AND USE OF ELECTRONIC FUND TRANSFERS › Section 2.60.8.8 - AGENCY RESPONSIBILITIES AND REQUIREMENTS FOR BOARD APPROVAL OF PAYMENT CARD ACCEPTANCE

Current through Register Vol. 35, No. 13, July 16, 2024
A. Payment
				card services will be provided through the fiscal agent subject to the terms
				and conditions as set out in the fiscal agent agreement and the board's
				agreements with individual payment card companies, through an agreement between
				an agency and a third-party processor if approved by the board, or through a
				statewide payment card acceptance system, if established.
B. Agencies requesting payment card
				acceptance shall submit to the director of the board a written request that
				contains the following:
(1) reason for payment
				card services and the specific fees, taxes, or other amounts to be collected
				using payment cards;
(2)
				confirmation that the agency has read and will follow the terms and conditions
				for payment card acceptance as set out in the fiscal agent agreement or
				statewide payment card acceptance system agreement, if established, and the
				board's agreements with individual payment card companies;
(3) confirmation that the agency will pay all
				costs associated with the acceptance of payment card services, including
				purchases or leases of merchant equipment, as set out in the fiscal agent
				agreement and any agreement with an approved third-party processor, and
				including any assessment charged by the state to cover the cost of compliance
				with payment card industry data security standards;
(4) confirmation that the agency will be
				responsible for tracking, researching and recording all payment card
				transactions for reconciliation purposes;
(5) confirmation that any acceptance of
				payment cards through the internet shall be done in a secure fashion and on a
				secure system;
(6) confirmation in
				writing from the department of information technology that the agency's
				acceptance of payment cards will meet data security standards of the payment
				card industry;
(7) confirmation
				that the agency's chief financial officer and chief information officer will
				cooperate with the board to ensure compliance with payment card industry data
				security standards;
(8) whether the
				agency will absorb fees for acceptance of payment cards or cardholders will be
				assessed a convenience fee. If fees are to be paid by the cardholder, provide
				the procedures used to charge and collect convenience fees from cardholders and
				confirmation that the convenience fee will be in compliance with Subsection B
				of 6-10-1.2 NMSA 1978, as amended;
(9) if the agency wishes to use a third-party
				processor, a copy of the third-party processor agreement with the agency and
				the reasons why use of a third-party processor is more advantageous for the
				agency than using the fiscal agent. If the third-party processor agreement with
				the agency is not yet available at the time board approval for acceptance of
				payment cards is requested, the board director may condition any approval on
				the board director's later review and approval of the third-party processor
				agreement;
(10) if the agency
				wishes to use payment gateway through the fiscal agent agreement, a comparison
				of the costs and benefits of using payment gateway to traditional payment card
				services, including breakdown of fees to be paid by the board, the agency, and
				cardholders.