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County extension councils will need to review options for accepting credit cards and determine which best meets their needs. There is a wide variety of options and Councils should consider cost involved, difficulty, does it meet compliance review standards, is portability an issue, etc.

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    Information for Selecting a Credit Card Option

    Regardless of the processing equipment/method chosen, the county would simply be choosing to receive funds through the additional mode of credit cards. All the appropriate accounting and reporting requirements that apply to the current handling of funds received by cash and check will apply to these funds as well. (For example: taxable items, recording of receipts, handling of gifts, etc.) Security training is required for all staff who process credit card receipts, regardless of the option chosen, and policies, procedures, and training will be developed and delivered to cover appropriate handling of personal financial information, segregation of duties, QuickBooks data entry, and reconciliation. Annual security awareness trainings will be mandatory to complete for all office staff who will be accepting credit card payments on behalf of the county and counties accepting credit cards will be required to be compliant with Payment Card Industry Data Security Standards (PCI-DSS) as set forth by University of Missouri Extension.

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    Sample 1. Example of Costs Associated With Accepting Credit Cards (2010 data)

    Monthly Credit Card Charges

    Credit Card Fees

          QB XXXX Credit Card Machine
          Per Transaction Rate Per Transaction Fee Per Transaction Rate Per Transaction Fee
    Description Date Amount 2.20% $0.25 2.50% N/A
    4H Camp registration 3/1/2010 $100 $2.20 $0.25 $2.50 $0
    4H Camp registration refund 3/10/2010 -$100 -$2.20 $0.25 -$2.50 $0
    Stay Strong, Stay Healthy program 3/16/2010






    Soil Test 3/16/2010 $30 $0.66 $0.25 $0.75 $0
    Master Naturalist training 3/25/2010 $100 $2.20 $0.25 $2.50 $0
    Total CC charges for the month   $205 $4.51 $1.25 $5.13 $0

    QB — Rev/Exp Summary

    Total Charges $205
    Total Transaction Fees $20
    Net Revenue for the Month $185

    *Counties receive revenue within 24 to 48 hours of the charges; fees assessed monthly.

    ***Example did not reach $20 minimum in fees; therefore $20 assessed and not $5.76.

    XXXX Application — Rev/Exp Summary/p>

    Total Charges $205
    Total Transaction Fees $5.13
    Net Revenue for the Month $199.87
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    Sample 2. Credit Card Options Matrix for Comparison Samples (2010 data)


    QuickBooks Merchant - Monthly Rate

    Generic Credit Card Terminals (analog and wireless)

    Set Up Fees



    Monthly Fees



    Transaction fees:


    Keyed fee rate applied to transaction amount


    2.5% for all card types

    Non Qualified card fee rate applied to transaction amount



    *Swipe fee Rate applied to transaction amount.



    Per transaction fee



    Per transaction fee when Non Qualified card is used



    Monthly minimum transaction fees



    Cancellation fees



    Other fees:



    Equipment fees

    $69.95- USB card swiper

    $425 (analog phone line)

    $750 (wireless)

    *These are one-time purchase costs

    Phone line


    Analog phone lines vary by location

    Cellular data fee is $20/month

There are many options to choose from. The University did review several in early 2021 and at that time recommended the Moby 5500 EMV/NFC/Contactless card reader for desk top (does not recommend the virtual option) and BancCardand. For questions regarding credit card terminals/processing, please contact John Layman, Finance and Accounting Consultant, Office of the Treasurer.