The program connects events' credit card processing application to the established IEEE merchant account, providing the ability to process credit card purchases safely and easily.
You will get access to IEEE’s discounted rates with no additional transaction costs or hidden fees, plus immediate access to funds when utilizing an IEEE Concentration Banking account. IEEE also handles the PCI Compliance requirements, ensuring cardholder security and transactions are safe.
Starting an IEEE Merchant Lending account is quick and easy: Simply fill out the online form, which can be done in ten minutes or less. Sensitive personal information that could affect your individual finances or credit rating will not be collected. Using IEEE’s established Merchant Account Program for credit card processing will save you time and frustration associated with signing up for a merchant account at your local bank.
Proceeds will be automatically transferred securely into your IEEE Concentration Banking account on a daily basis. You will be able to see daily batches of credit card transactions and associated fees on the CB bank statement within 48 hours of processing the transaction.
Standard payment schedules and fees are used for the Merchant Lending Program.
Some features of IEEE Concentration Bank Accounts (US):
IEEE Credit Card Processing can only be used with credit card processing software that is compatible with the First Data Corporation (FDC Nashville) platform, such as Authorize.net, available to PCI certified compliant registration management companies.
All IEEE credit card processing services follow Payment Card Industry (PCI) standards to protect cardholder information and to minimize credit card fraud. If not using a PCI certified compliant registration management company, volunteers can still use credit card processing if the following apply:
Credit card processing software is set up by IEEE geographic/organizational unit. IEEE Treasury will then provide the merchant account information that is needed to set up the credit card processing software.
You must review and agree to the Best Practices.
Follow these steps to set up credit card processing: