merchant credit card terminal keypad layout

Certain government cards, special processing, internet processing or cards issued by banks in developing nations will incur higher fees. The fees will be approximately 3% of each transaction. The cost of a swipe machine is approximately $700 but can be more depending on the selected machine. The department will assume all costs associated with operating the merchant number including supplies, monthly fees and discount. The following three subsections contain detailed descriptions of the three payment methods currently available to departments at Yale.Ĭharges may vary based on the number of type of payments methods used. ĭepartments interested in accepting credit card payments for goods and services must contact Treasury Services for an application form. For information on establishing new MIDs and other related resources, please visit Yale ePay. Procedures for MIDs established on and after are currently under construction. Note: this procedure applies to Yale Merchants with Merchant identification numbers (“MIDs”) established prior to. The methods can range from using a stand-alone swipe machine connected by a dedicated phone line, which is the simplest arrangement with the least amount of compliance regulations, to very complex on-line hosted arrangements that obligate very strict data security and compliance requirements on the merchants. Therefore, it is important to consider the applicable security standards when selecting the method, a department will use for processing credit card payments. There are several different ways that a credit card merchant can process credit card transactions at Yale.Īll organizations that process credit card payments are required to comply with the Payment Card Industry’s Data Security Standards (PCI DSS) and are required to attest annually to their continued compliance in order to maintain the ability to accept electronic payments. This procedure is owned and managed by Yale PCI Administration.

This procedure provides instructions for departments that wish to accept credit card payments when conducting University business.

Merchant credit card terminal keypad layout