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UF hoping to build credit

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Posted: Monday, February 25, 2013 1:03 am

To stay current with the regulations affecting credit and debit card payments, the university created a committee to establish a standardized policy.

Currently, places that accept credit card payments like the Univeristy Athletic Association, the UF Foundation and Shands at UF are on different contracts. The committee wants to make everything consistent, said Stuart Hoskins, senior associate controller.

He said the growing popularity of electronic payments comes with risks, and the committee is concerned with adhering consistently to the rules set in place by credit card companies.

The university is also concerned about having airtight policies to keep information secure, Hoskins said.

“We know we are dealing with very sensitive information. Identify theft is a frequent topic. That’s why credit card companies have created these standards,” he said.

The committee is still inviting its members but will begin meetings next month.

The agenda will include ensuring the privacy and security of payment card data stored and transmitted through UF by developing standards for application processes, contracts with third parties, terms of use and audit requirements.

“We need to do everything we can here to make sure information is secure,” Hoskins said. “We know this is the way people want to pay their bills.”

UF spokeswoman Janine Sikes agreed.

“You want your credit cards to be safe, don’t you?” she said. “We have a lot of you.”

Contact Alexa Volland at [email protected].

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