What is your volume of transactions? A low number of transactions may make the cost of equipment rental impractical.Transaction fees (normally a percentage based on the dollar volume of transactions).Some of these considerations are as follows: All costs and benefits surrounding the acceptance of debit cards and credit cards should be considered before committing to accept these forms of payment.All arrangements for accepting debit/credit card payments must be approved by either the principal, dean, director or chair of the department.It is important to keep in mind the following points before proceeding:
Debit credit machine manual#
Many departments have already put in place facilities to accept debit/credit cards via point of sale (POS) terminals and manual imprinting, as well as the acceptance of payments by credit card over the internet (e-commerce). Here is a summary of the issues that need to be considered when setting up such a facility, the processes you need to be aware of in order to avoid any unnecessary delay in getting your debit or credit card facility up and running, and the responsibilities required for ensuring the process runs efficiently thereafter:Įxpand All | Collapse All What You Need to Consider Before Setting up a Debit/Credit Card Facility? The Banking Section provides guidance and assistance in setting up a debit or credit card facility to allow University departments to accept payments other than via cash, cheque or wire transfer.
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