Functional requirements are as follows: Credit Card Processing 1. Authorization and settlement must be provided for MasterCard, VISA, Discover and JCB cards. Unless your firm can authorize and settle American Express transactions at the University’s contracted discount rate, those transactions will be passed directly to American Express for authorization and settlement. 2. Authorization and settlement should be provided for credit and debit card transactions through a variety of secure methods. 3. Authorization and settlement should be provided for transactions generated from card readers, from computer-based POS systems, and from web-based e-commerce sites. Transactions will take place in a wide range of point-of-sale environments, card present and MOTO (key entered, eCommerce). The Merchant Processor must be able to accept payments from the University’s existing equipment, service providers, and gateways listed in Tables 2 and 3. 4. Response time for authorization should at least meet industry standards. 5. Online reporting should be available at no charge to the University as a whole as well as to each University merchant. This must include the ability for ad hoc reporting. The University desires to have direct administrator capabilities to grant user access to online reporting systems to an unlimited number of system users...
