Merchant Services Program Policy
This Merchant Services Program Policy addresses the program of a bank, credit union, or other type of financial institution of providing merchant services to qualified business customers in accordance with all applicable laws, rules and regulations. In general, the Merchant Services Program involves the settlement of electronic payment transactions for merchant customers. Merchant processing activities involve gathering sales information from the merchant, obtaining authorization for the transaction, collecting funds from the card issuing bank, and reimbursing the merchant.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Structure of Accountability – Topic 4
- Risk Management – Topic 5
- Product Definition and Pricing – Topic 6
- Operational Overview – Topic 7
- Underwriting Guidelines Policy – Topic 8
- Service Establishment Procedures and Responsibilities – Topic 9
- Changes or Deletions – Topic 10
- Fraud Monitoring – Topic 11
- Chargeback Monitoring – Topic 12
- Audit Policy – Topic 13
- Staff Training – Topic 14
- Retention of Documentation – Topic 15
This Merchant Services Program Policy (approximately 44 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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