Pol-Establishment of PayPal Accounts

policy Establishment of PayPal Accounts modified Mon Mar 16 2020 16:42:24 GMT-0400 (Eastern Daylight Time)

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University of Louisville

OFFICIAL
UNIVERSITY
ADMINISTRATIVE
POLICY

POLICY NAME

Establishment of PayPal Accounts

EFFECTIVE DATE

November 20, 2009

POLICY APPLICABILITY

This policy applies to the University Community (administrators, faculty, staff, and students).

POLICY STATEMENT

It is prohibitive to establish a Business PayPal account as a vehicle for accepting or disbursing payments in the course of business under the University, or any affiliated and related organizations as it applies to any and all e-commerce transactions nor can any personal Pay Pal account of an employee contain their respective department’s ProCard number in the account profile.

REASON FOR POLICY

The flexibility of opening an account and lack of fiscal controls in the governship of the account precludes its existence. All merchant processing arrangements with the University of Louisville and related entities are bound by written contracts between both parties.

Most e-commerce arrangements allow for credit card entry without linking to a personal PayPal account. EBAY, for example whereby “Don’t Have a PayPal Account” instance exists, permits the purchaser to be redirected to a secure payment page in which ProCard information can be entered.

However, a transaction by which execution is only allowed using a personal PayPal account, being restricted to ‘disbursement’ only status and using a personal credit card number to initiate, the employee must conform to the University’s Procurement standards for such purchase to be eligible for reimbursement.

In addition, future requests for proposal (RFP) issued by the University having a processor exclusivity clause would be compromised by unknown PayPal origins. Thus, any questions or concerns should be addressed to the attention of Treasury Management, TREASMGT@louisville.edu

ADMINISTRATIVE AUTHORITY

Vice President for Finance and Chief Financial Officer

RESPONSIBLE UNIVERSITY DEPARTMENT/DIVISION

Controller’s Office
Treasury Management
Service Complex, Louisville, KY 40292
502-852-8253
treasmgt@louisville.edu

HISTORY

Revision Date(s): 2/21/2020, 8/20/2012
Reviewed Date(s): 2/21/2020; 8/20/2012

The University Policy and Procedure Library is updated regularly. In order to ensure a printed copy of this document is current, please access it online at http://louisville.edu/policies.