If you are thinking about becoming an MIT merchant, ask yourself these questions:
- What am I going to sell?
- Will I accept donations?
- How much will credit card transactions cost?
- What new equipment will I need?
If you are not selling items (e.g., books, conference registration fees) or accepting donations (e.g., gifts to the MIT Alumni Association) on an ongoing basis, contact VPF’s merchant services team to find out about becoming a one-time merchant.
If you plan to act as a merchant on a continuous basis, assess the situations in which you plan to accept orders or payments.
- face-to-face—credit card is physically present, such as at a sales desk or conference display
- over the phone—credit card information is shared by voice
- online—credit card information is shared via a payment page
Making these decisions now will help you complete your application for MIT merchant status as efficiently as possible.
To apply for an MIT Merchant Account, you must complete the MIT Merchant Services Pre-Implementation Business Plan/Application and send it to VPF’s merchant services team. Allow up to seven days for VPF to review your plan. If approved, you will be able to begin using your merchant account within six to eight weeks. If your plan is not approved, the merchant services team will contact you to discuss questions or concerns.
After VPF approves your business plan/application, you must review and sign off on a self-assessment questionnaire (SAQ) for PCI compliance and the MIT Business Owner Acknowledgement. Use the Securetrust/VikingCloud PCI Compliance link on the Business Owner Acknowledgement form to find the correct questionnaire for your account type.
The Details
If you are thinking about becoming an MIT merchant, ask yourself these questions:
- What am I going to sell?
- Will I accept donations?
- How much will credit card transactions cost?
- What new equipment will I need?
If you are not selling items (e.g., books, conference registration fees) or accepting donations (e.g., gifts to the MIT Alumni Association) on an ongoing basis, contact VPF’s merchant services team to find out about becoming a one-time merchant.
If you plan to act as a merchant on a continuous basis, assess the situations in which you plan to accept orders or payments.
- face-to-face—credit card is physically present, such as at a sales desk or conference display
- over the phone—credit card information is shared by voice
- online—credit card information is shared via a payment page
Making these decisions now will help you complete your application for MIT merchant status as efficiently as possible.
To apply for an MIT Merchant Account, you must complete the MIT Merchant Services Pre-Implementation Business Plan/Application and send it to VPF’s merchant services team. Allow up to seven days for VPF to review your plan. If approved, you will be able to begin using your merchant account within six to eight weeks. If your plan is not approved, the merchant services team will contact you to discuss questions or concerns.
After VPF approves your business plan/application, you must review and sign off on a self-assessment questionnaire (SAQ) for PCI compliance and the MIT Business Owner Acknowledgement. Use the Securetrust/VikingCloud PCI Compliance link on the Business Owner Acknowledgement form to find the correct questionnaire for your account type.