Set up a merchant account (accept card payments)
Learn how to set up a new merchant account to accept card payments, review merchant responsibilities, and access the required request form.
How-to
What we do
Responsible for the stewardship of the University’s financial resources. The department protects and enhances these assets through effective working capital management, prudent borrowing, and conservative investments, while maintaining regulatory compliance.
Topics on this page:
Getting started with merchant services (accepting card payments)
New to accepting card payments? Start here to learn the merchant account setup process, review merchant responsibilities, complete required training, and submit your request to begin accepting card payments.
New merchant account request form
Use this form to request a merchant account for accepting card payments.
Form
Merchant card processing policy
Defines requirements for accepting and processing card payments at the University, including merchant approval, responsibilities, data security standards, and compliance with PCI DSS.
Policy or guideline
PCI compliance training (merchant services)
Required annual PCI compliance training (merchant services) and policy review for employees who handle payment card data.
Training
Other merchant services resources
Merchant payment processing and support
Find resources to accept card payments, manage merchant accounts, maintain PCI compliance, and get support.
How-to
Make updates to an existing merchant account
Update merchant account details, including account numbers, locations, and primary contact information for payment card processing.
Form
Merchant terminal inspection log
Use this template to track terminal inspections and document inspection results, device information, and security concerns. Required for merchants using physical payment terminals.
Form
Fraud and chargeback guidelines for merchants
Overview of card payment chargebacks, common dispute reasons, fraud prevention steps, and internal response procedures for handling chargebacks.
How-to
Merchant terms and definitions
Common payment card processing and PCI compliance terms used in Treasury policies, procedures, training, and merchant services resources.
Tool
Banking and cash handling
Banking and ATM services
Find banking and ATM locations at the River Campus, Health Science Campus (Med Center), and other sites.
How-to
Coin and currency ordering procedure for SMH Cashiers’ Office
Procedures for the SMH Cashiers' Office to order coin and currency through JPMorgan Chase, including minimum order amounts, delivery requirements, and reconciliation procedures.
How-to
Receiving funds
Banking entry form
Excel form used to submit bank deposit transactions to General Accounting for recording in the financial system.
Form
Add or update Automated Clearing House (ACH) payment information
Avoid delays that may be experienced with mail through ACH payments direct to your checking account. Payment Terms are generally 30 to 45 days.
Form
Looking to make a payment to a supplier or individual?
Payments to suppliers and individuals are managed by Accounts Payable.
Visit Accounts Payable for payment options and instructions.
Frequently asked questions
Looking for PCards (purchasing cards for buying goods on behalf of the University)? Those are managed by the Procurement Department.
Cash handling and deposits
Receipts of cash and checks are prepared for deposit to JPMorgan Chase through the River Campus Bursar’s Office, the Medical Center Cashiers’ Office, and Advancement & Alumni Relations’ Gift and Donor Records. Each depository location consolidates deposits into a single deposit to JPMorgan Chase. Each office has established a process for collecting and recording deposits to ensure proper credit to the appropriate ledger accounts.
The University accepts foreign currency checks issued in the following currencies:
- British Pounds (GBP)
- Australian Dollars (AUD)
- Swiss Francs (CHF)
- Danish Kroner (DKK)
- Hong Kong Dollars (HKD)
- Euros (EUR)
- Canadian Dollars (CAD).
Merchant services
Visit the merchant services support page for FAQs, including, information about payment processing, PCI compliance, terminals, refunds, security, and merchant account support.
Capital projects and financing
Capital projects may be funded through bonds, bank loans, capital leases, operating leases, short-term lines of credit, and similar options. Projects must be approved by senior management before proceeding. To request information, forward the information below to Treasury for review and response:
- Capital project amount
- Economic life of the asset or project
- Project timeline (purchase or construction period)
- Description of the item
A lease is a short-term financing option for funding a capital project. A spreadsheet model is available through the Office of Treasury to compare leasing versus using cash reserves. The model allows comparison of monthly, quarterly, or annual lease payments and requires:
- Project or equipment cost
- Lease payment amount
- Lease term
The Office of Treasury can assist with the analysis and interpretation of results.
Debt and financial reporting
External debt results from borrowing from a financial institution to fund a capital project. Information available through the Office of Treasury includes total borrowing, funded projects, repayment schedules, interest and fees, maturity dates, and loan details. This information is available to authorized administrators upon request.
A repayment schedule (amortization schedule) outlines the principal, interest, and fees associated with external debt. This information is available through the Office of Treasury and is provided to administrators upon request.
Treasury payments and unclaimed funds
An electronic funds transfer (EFT) moves funds electronically through systems such as ACH, Fedwire, CHIPS, or SWIFT.
To request a payment:
- Complete the Request for Payment (F4) form with proper signature authority and account codes.
- Submit the form to the Cash Management email inbox at least one business day in advance.
The Office of Treasury coordinates unclaimed funds filings with University divisions. These funds represent amounts not collected by the intended payee and remitted to states as required by law. Claims are typically filed multiple times per year with New York State and other states. Contact the Office of Treasury for the process document.
SharePoint access
Contact the Treasury department to request access.
Contacts
Kathy King-Griswold, Ed.D., CTP, CBM
Associate Treasurer and Director
Related offices and departments
Browse related offices for contact information and related resources.