Merchant Responsibilities; Transaction Holds - VeriFone VX520 User Manual

Merchant Responsibilities:

Print a report or perform a batch review to verify the transactions in your terminal or software. Close your batch daily to
ensure you are charged the lowest interchange rates and your funds will deposit in a timely manner. Merchants using
telephone touch-tone capture do not have to manually close the batch.
Insert, tap or swipe all cards. If your terminal cannot read a card, you must imprint the card on a manual imprinter call
for a voice authorization and have the cardholder sign the imprinted draft.
1. Maintain a manual imprinter, merchant plate and a supply of sales drafts. This is your backup system.
2. Do not accept a credit card before its valid from date, or after its expiration date, on the card. Do not accept a
credit card that is not signed.
3. Maintain your terminal and printer to insure legible sales draft receipts. Keep copies of credit card receipts, for a
minimum of 18 months. Store receipts in a secure location.
4. If you are using point of sale software, you must have the latest updates installed to secure card data. If connected
to the internet you must maintain a firewall between your POS software and the internet.
5. Do not store the 3-digit security code (V-Code) with the card number and expiration date.
6. Respond within 7 days to all retrieval requests for a copy of a sales draft.
7. Call your voice authorization number and ask for a "code 10" if you are suspicious of a card or cardholder.
8. Authorizations are good for 7 days only. If you have not submitted authorized transactions within 7 days you must
re-authorize.
9. If you wish to close your merchant account you must submit a closure letter with the name of your business, your
merchant number, a brief closure statement and it must be signed by the principal who opened the account.
Inform Acumen of any of the following:
1. Checking account changes
2. Address change
3. Ownership or Incorporation changes
4. Telephone or internet system changes
5. If you process transactions through a payment gateway other than Acumen, you must inform them separately of any
checking account changes.

Transaction Holds:

Your merchant account has an established high monthly volume and high ticket amount. If you process a transaction in
excess of the high ticket amount the transaction may be held by the processor. We will notify you within 24 hours of any
holds and request additional information about the transaction including but not limited to:
1. Customer invoice (showing service or product)
2. Cardholder contact information including telephone number
3. Merchant bank statement (summary pages only)
To satisfy our banks risk mitigation, you must supply the requested information in order for the transaction to be
released.
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