Processing Credit Card Payments and Advances

You can accept credit card payments using Audio Response, Online Banking, Transfer File, the Transactions - Vendor Credit Card, Mortgage and Education Payment tab, Transactions - Deposits, Withdrawals, Payments and Transfers tab, and Mail Work tab. For all vendors except CPS and CSC, credit card payments are stored in a batch file, then transmitted to the credit card processor via File Exchange (XROADS). Payments are accepted for that day's batch transmission until the cut-off time indicated on the Credit Union Profile - Loans tab. Payments accepted after the cut-off time are included in the following business day's batch transmission

For credit unions that use CPS or CSC as their credit card vendor, credit card payments and advances are sent to CPS and CSC intermittently throughout the day (approximately every 15 minutes) until the nightly back-office cycle cut-off time. The Cut-Off Time field on the Credit Union Profile - Loans tab will be blank.

Payments are credited to the clearing GL account indicated on the Loan Profiles - Additional Information tab. The payment transaction also produces a financial CAN. For research purposes, transactions may be found on the:

Teller Journaling - Inquiry tab
GL Activity window (reflected in GL balance)
History – Financial Transaction History tab (if payment by share transfer)
History – Credit Card Transaction History tab
GL History window
Audit Trail Report 990

Advances are debited to the clearing GL account indicated on the Loan Profiles – Additional Information tab. The advance transaction also produces a financial CAN. For research purposes, transactions may be found on the:

Teller Journaling - Inquiry tab
GL Activity window (reflected in GL balance)
History – Financial Transaction History tab (if payment by share transfer)
History – Credit Card Transaction History tab
GL History window
Audit Trail Report 990

When calling the credit union audio response unit, members can make credit card payments through the financial transaction menu or access their credit card balance through the balance inquiry menu. The credit card balance inquiry reflects the balance, minimum payment amount, available credit and credit limit as of the last time the card was included on the balance and status file. For CPS/CSC users, the Available Credit field will be increased by payments made through Audio Response, Online Banking or Transfer File after the payment has been sent to CPS/CSC.

Before Portico transmits a credit card payment or advance, the system sends an inquiry to CPS/CSC requesting recent credit card transaction information. Included in the data is the reference number. Portico uses the reference number to ensure that the current payment or advance is not a duplicate of a previous transaction for the credit card number. If the reference number for the current payment or advance does not match any of the reference numbers from recent transactions for the credit card number, Portico will transmit the payment or advance to CPS/CSC. If there is a match to an existing reference number for the credit card number, Portico will not transmit the payment or advance.

For CSC (Fiserv Full Service Credit/Optis) users, credit card payments can be made on closed credit card accounts. Portico does not verify the Account Status field or Block Code 1 field on the Loans - General tab before processing the payment. If you would like to prevent payments on closed accounts, please contact CSC (Fiserv Full Service Credit/Optis) for options.

For CPS users, credit card payments are not allowed on closed credit card accounts

Applied and Reversed Before Cut-Off Time

For non CPS/CSC users, if a credit card payment is applied before the payment cut-off time, it may be reversed by using the Reversals – Same Day Reversals tab. The Reversals – Same Day Reversals tab must be performed prior to the payment cut-off time the day of the transaction. If it is reversed prior to the cut-off time, the Reversals – Same Day Reversals tab will do the following:

Credit the member (if payment was made by share transfer).
Credit the appropriate GL for cash or check payments.
Debit the credit card clearing GL.
Remove the transaction from the teller's balancing screen.
Delete payment from the credit card batch transmission file.

Applied and Reversed After Cut-Off Time

A credit card payment applied after the cut-off time may be reversed by using the Reversals – Same Day Reversals tab if the Reversals – Same Day Reversals tab is performed the day of the transaction. The Reversals – Same Day Reversals tab will do the following:

Credit the member (if payment was made by share transfer).
Credit the appropriate GL for cash or check payments.
Debit the credit card clearing GL.
Remove the transaction from the teller's balancing screen.
Delete payment from the credit card batch transmission file to be transmitted the next day.

Applied Before Cut-Off Time And Reversed After Cut-Off Time

After the processor cut-off time has passed, Portico will not allow transaction reversals using the Reversals – Same Day Reversals tab on payments applied before the cut-off time. If a payment must be reversed after the cut-off time or at a later date, the credit union must do the following:

Journal voucher entries to correct their general ledger accounts and the member account (if payment was made by share transfer).
Contact the credit card processor to have the payment reversed on the processor's side.

For CPS/CSC users, reversals will be sent to CPS/CSC using the same method as payments and advances. Same day reversals of credit card payments and cash advances will use the Reversals – Same Day Reversals tab. If the reversal occurs before the file is sent to CPS/CSC, the transaction will be stripped from the file and not sent to CPS/CSC. If the reversal occurs after the file is sent to CPS/CSC, Portico will send a monetary transaction with a reversal action code.

Applied and Reversed Before File Sent

Payments

Credit the member if payment was made by share transfer or debit the member if an advance was disbursed to a share account
Credit the appropriate GL for cash or check payments or debit the appropriate GL for advances with disbursals by cash or check
Debit the credit card clearing GL for payments or credit the credit card clearing GL for advances
Remove the transaction from the teller’s balancing screen
Delete payment/advance from the payment file

Advances

Debit the member if an advance was disbursed to a share account
Debit the appropriate GL for advances with disbursals by cash or check
Credit the card clearing GL for advances
Remove the transaction from the teller’s balancing screen
Delete advance from the payment file