Credit Transactions

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Credit Transactions

 

This section about credit transactions contains the following:

 

1.    Guidelines for handling credit transactions

 

 

2.    Sample credit card

 

 

3.    Sample Credit Voucher used in manual credit transactions.

 

 

4.     Sample Merchant Summary Voucher

 

Credit Transactions.

 

1.  Guidelines for handling credit transactions.

 

a)     Manual credit transactions (not used much anymore, most transactions are done electronically)

·    Check the card number against a list of stolen card numbers supplied by the credit card company each month.

·    Obtain authorization according to the business’s policy. There may be a limit on the size of the transaction, above this limit requires a phone call to the credit card company

·     Check the customer’s signature against the signature on the credit card.

·     Check the expiry date of the card

·     Give the customer a copy of the voucher

·     Keep the remaining vouchers – ready for banking.

·     It is desirable to bank credit card vouchers, sales vouchers (for the sale of goods and credit vouchers (for goods being returned)  within  3 working days

                         

 

b)   Electronic credit transactions

Check the customer’s signature against the signature on the card

The machine will electronically not process stolen/lost cards.

Depending on the business’s policy, circle the expiry date

Give the customer a copy of the voucher – printed by the EFTPOS machine

Keep the remaining voucher.

 

2. Some important credit transaction documents:

 

a)    

 

A Sample Credit Card.