Why are charge card payments for workshops processed immediately—even when workshops are months away—but payments by cost object number aren processed until after workshops are held?
The DukePay credit processing system applies credit card and procurement charges immediately. This ensures the highest possible security by eliminating the need for local storage of sensitive charge card information for later use. Actually, no other human eyes need to see the information at all, except in case of a refund or an audit. The charge card information is only retained in the banking/financial system where the payment was processed. NOTE – All electronic and paper charge card records from previous years have been destroyed. There are three disadvantages to instant fee processing: • When customers cancel or reschedule workshops, and we refund fees accordingly, the additional transactions require additional tracking and reconciliation. • By signing onto a waitlist with a procurement card, you are charged the workshop fee immediately – even though you don’t have a seat. (Please see the next question for more information.) • If a personal charge card was used, interest starts acc
Related Questions
- Why are charge card payments for workshops processed immediately—even when workshops are months away—but payments by cost object number aren processed until after workshops are held?
- How much does it cost to use a credit and/or charge card when traveling outside the country?
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