June 26 2013 North Fulton Council PTA every child one voice Should your PTA accept Credit Cards The Positives Most people carry credit cards Mobility smartphones amp tablets have made it easier to accept credit cards ID: 417895
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Slide1
Electronic Transactions for your PTA organization
June 26, 2013
North Fulton Council
PTA
®
every
child
.
one
voice
.
®
Slide2
Should your PTA accept Credit Cards?
The Positives:
Most people carry credit cards.
Mobility – smartphones & tablets have made it easier to accept credit cards.
More payment methods available to your parent base
which can lead to increased membership, spirit wear, yearbook sales & donations.
Things to consider:
You will need to establish appropriate policies
& procedures.
You will have to secure physical resources (i.e. smartphones or tablet,
wi-fi
or data plan, service providers/card
swipers
).
You will need sufficient human resources (i.e. treasurer, volunteers to complete the credit cards procedures).Slide3
Your PTA’s Responsibilities
Must hire a 3
rd
party processing company, who complies with Payment Card Industry Data Security Standards (PCI DSS) for online & swiped transactions.
Must establish policy/procedures such as:
Merchant transactions must be reconciled & signed by two individuals (i.e. cash verification form).
Merchant Service Fees are a separate budgetary line item.
All documents with credit card data must be stored in a secure area;
Don’t store PIN, CVV2/CVC2/CID numbers;
Never acquire or disclose any cardholder data without the cardholder’s consent;
Ensure volunteers taking credit card information are properly trained in your credit card policies & procedures
Keep proper documentation (i.e. signature of cardholders) for any possible disputes.Slide4
3rd Party Processing Companies
PayPal Non Profit Services
Can accept credit cards online or via a free card
swiper
.
All funds collected are placed in the same PayPal
account.
PTA Treasurer must transfer the money on a regular basis from the PayPal account to the PTA checking account.
Cost: 2.2% + .30 per transaction for 501(c)(3) organizations.
Square
Can accept credit cards via a free card
swiper
.
All funds
collected are transferred directly into the PTA checking account.
Cost
: 2.75% per swipe or a flat monthly fee of $275.
Intuit
GoPayment
, Merchant on the Move, Mobile Merchant Pro & othersSlide5
Best Practices
Online Payments Procedures:
This account is for collection of funds only.
Establish a separate bank account to restrict internet access into the general checking account.
The non-signer reviewing the monthly bank statements also reviews the monthly statement for online payments.
Credit Card Payments Procedures:
The 3
rd
party processing company (merchant) must be certified compliant with PCI DSS.
Merchant statements must be clear, detailed and accessible
.
Accept only swiped transactions, no hand written account numbers.
In your merchant contract, confirm only the PTA can confirm a refund & that the merchant will provide guidance on challenging a disputed payment.Slide6
Resources
Georgia PTA Guidance
http://www.georgiapta.org/documents/
OnlineReceiptofPaymentsPoliciesandProcedures.pdf
National PTA Guidance
http://www.pta.org/files/Money_Matters_In_An_Electronic_Environment.pdf
NFC PTA
www.nfcpta.com
for this presentation
Other Resources
http://www.txpta.org/documents/PTA%20Resources/Treasurer/electronic/Financial%20Procedures%20for%20Accepting%20Electronic%
20Payments.pdf