Payment card processing involves the handling of protected private data. Policy states that proper controls must be implemented to protect the cardholder and the University. Acceptance of payment cards and management of a payment card account entails specific responsibilities and requirements on the part of the University community.
Requesting Changes to Payment Card Accounts
It is the responsibility of the Payment Card Manager to ensure that account information on file is current and accurate. The University of Minnesota’s acquiring bank, Accounts Receivable Services, payment card companies, third party service providers and other vendors that provide service or support for the payment card account all maintain information on accounts that must be current and accurate. Whenever there is a change of any of the essential items related to a payment card account the Payment Card Manager is required to inform Accounts Receivable Services immediately.
All changes to a department’s payment card account must be approved by Accounts Receivable Services prior to implementation. Changes may include, but are not limited to:
- The use of existing payment card accounts for new purposes
- The alteration of business practices that involve payment card processing activities
- The addition or alteration of payment card processes or procedures
- The addition or alteration of relationships with third-party payment card vendors or service providers
- Change in Payment Card Manager, Accounting Contact or IT Contact
- Changes in address or physical location
- Changes in chartstrings for revenue or fees
Process for initiating/documenting changes:
- Payment Card Manager completes the Payment Card Account Form (UM 1609) and sends to Accounts Receivable Services at firstname.lastname@example.org.
- Accounts Receivable Services will work with the requesting department, University Information Security (UIS), Purchasing Services, and Office of the General Counsel to ensure thorough review of the request.
- Accounts Receivable Services will notify department once the request has been reviewed. Not all requests are approved.