Ohio Administrative Code › Title 3359 - University of Akron › Chapter 3359-3 - University Finances › Section 3359-3-06 - Acceptance of credit cards as a payment option to the university

Current through all regulations passed and filed through July 1, 2024
(A)
								The vice president for finance and administration and
			 chief financial officer, in addition to the duties and responsibilities set
			 forth in university rules, is responsible for the administration and use of
			 credit cards by all university offices that accept credit cards as a payment
			 option to the university.
(B)
								Use of credit cards must be coordinated through the
			 associate vice president/controller of the university of Akron. The university
			 will determine which cards are acceptable to the university.
(C)
								Web-based card
			 applications must meet the data security standards for storing, destroying and
			 transmitting data. Such standards shall be determined according to the current
			 applicable requirements of the respective credit cards, appropriate best
			 management practices and such university requirements as may be
			 applicable.
(D)
								Each department must complete a credit card merchant
			 application to accept credit cards. T his form will define what type of
			 transactions will be accepted online, in person terminal or paper process. This
			 request should also include the following: the item or service, the time frame
			 for which the credit card usage is needed, the estimated volume, the account
			 code to be charged for the bank charges (with the appropriate unit approvals),
			 and the cash/credit control procedures in place in the department which comply
			 with the cash/credit control policy, including how the equipment and credit
			 card information will be safeguarded. Upon return of credit card merchant
			 application and other appropriate information, the associate vice
			 president/controller will review the information and contact the department to
			 discuss options available based on volume, expense and frequency of
			 need.
(E)
								When equipment and software is available, the associate
			 vice president/controller will designate a contact person to set-up equipment;
			 explain accounting procedures, credit card processing procedures and confirm
			 security in place. Only upon such designation and final approval of the
			 associate vice president/controller may the process of accepting credit card
			 charges be commenced by university offices. Any independent arrangement
			 whatsoever regarding credit cards or with any credit card processors is
			 expressly prohibited.
(F)
								All staff with access to credit cards must acknowledge
			 cash/credit card procedures for secure distribution and disposal of backup
			 media and other media containing sensitive cardholder data.
(G)
								Information
			 security polices are reviewed with staff at least once a year and updated as
			 needed. All staff involved with accepting credit charges or information
			 involving same shall be required to attend such training as may be
			 directed.
(H)
								All employees with access to credit card/sensitive
			 financial information may be required to have a basic background
			 investigation.
(I)
								All cardholder data printed on paper or received by fax
			 must be protected against unauthorized access. All third parties with access to
			 sensitive cardholder data will be contractually obligated to comply with card
			 association security standards.
(J)
								Security
			 incidents should be reported by employees to their supervisor and the
			 information security officer for a security investigation.
Replaces: 3359-3-06