CMA Community

1. Mike Mitchell III
   Member

   Reputation:14

    

   One of CMA's members wants to rewrite his company's credit policy to include credit card customers. Any suggestions about content or who to contact about making those kinds of changes?

   Posted 2 years ago #

2. F Scott Wilson
   Member

   Reputation:279

    

   First suggestion is to get any credit card authorizations in writing. My employer requires this, and it makes it much easier to make sure we collect the money, and don't have any backcharges. One of my prior employers didn't do this, and collecting on these backcharges was a major headache.

   Second suggestion is that no credit card numbers are kept on site except for future transactions. Keep a copy of the authorization, with the card number redacted, leaving perhaps the last four digits, on file to show you had authorization. Leaving credit card numbers in the office, even if secured, is asking for liability issues.

   Posted 2 years ago #

3. Fay D'Amico
   Member

   Reputation:23

    

   We do credit card transactions every day. We use Cybersource as our credit card company which is done on line. We have the customer complete a form with all pertinent information such as name, address, c/c # expiration date and then have them sign it and date it. We then scan this into a secure drive in our system. This enables only the credit department to view it so that when they place the next order we just get an e-mail telling us to charge the card we have on file. The hard copy is kept in a locked file cabinet. We also have made a credit card log which is good for our cash application person when she receives the payment she can go into the log and figure out the payment quickly.

   Posted 2 years ago #

4. Christine
   Member

   Reputation:122

    

   Credit Card Access/Procedure Policy

   Currently, we have an Internet based credit card processor that we use. This is a secure system that stores all credit card information. This processor is PCI compliant. Access to this database is limited to four employees: the Credit Manager and one backup person, and the main Order Entry Clerk and one backup person. Absolutely no others have access to this database. Period.

   Credit card acceptance and processing:

   When the Sales Dept. takes an order for a cash sale account, they must ask how the customer will be paying for the order. If the customer states they want to pay by credit card, the following information must be obtained from the customer by the salesperson at the time of the order and written ONLY on a “credit card green slip”:

   • Credit card number
   • Expiration date
   • Security code (the three digit code from the back of the card)
   • Address & ZIP code that the card BILLS to.
   • NAME as it appears on the card. – This is very important!
   • Name of person placing the order.

   Once Sales has the order and credit card information, they are to give both to Order Entry. Once Order Entry has the information, Order Entry is to do the following:

   • Run the order
   • Enter the credit card information into our processor’s system
   • Charge the card
   • Immediately SHRED “credit card green slip”

   Absolutely NO Customer credit card information is to be stored by our company – for any reason. These green slips have been produced to look like no other document within the company, so they are immediately identifiable. It the responsibility of ALL employees to recognize a green slip that may be in the wrong place and bring it directly to the Credit Manager’s attention. There is no excuse for a customer’s information to be mismanaged.

   ANY EMPLOYEE OR AGENT OF THE COMPANY, WHO REPRODUCES, TAKES AND/OR DISTRIBUTES ANY CUSTOMER CREDIT INFORMATION WILL BE DISCIPLINED UP TO AND INCLUDING IMMEDIATE DISCHARGE. A REPORT MAY ALSO BE SUBMITTED TO ANY APPLICABLE GOVERNMENT AGENCIES AND YOU MAY BE SUBJECT TO CRIMINAL PROSECUTION.

   Posted 2 years ago #

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