Title
Draft Resolution - Tariff Amendments Regarding Credit Card Payments and Other Payments - T Nance
Other Info
Submitted By: Tim Nance
Department: Member Relations
Financial Impact and Cost/Benefit Considerations: Expenditures of $0; staff time estimated in the amount of 0 hours (other than ordinary processing requirements).
Discussion
Maintaining payment security is required for all entities that store, process or transmit cardholder data. Guidance for maintaining payment security is provided in the Payment Card Industry (PCI) security standards. These standards set the technical and operational requirements for organizations accepting or processing payment transactions.
To better align with these standards, PEC will discontinue accepting member payment card data that is not processed directly from a member into a secure, self-service payment system.
The amendments to the Tariff and Business Rules presented this day address process changes for acceptance of credit card payments and other payments by the Cooperative.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Cooperative approves the amendments to the Tariff and Business Rules attached hereto with any modifications approved by the Board this day to become effective as of July 1, 2019; and
BE IT RESOLVED BY THE BOARD OF DIRECTORS that the Chief Executive Officer or designee is hereby authorized to take such actions as needed to implement this resolution.