What is E-Commerce? The Merchant Services Group through the office of the Vice President for Finance offers online credit card payment processing. This allows student groups to sell items (tickets, conference registration, etc) through the Cybersource system. Customers will be able to pay for tickets, conference fees etc. directly on a secure website for your group. Student groups may not enter into agreements with outside vendors or organizations to sell items on the web. All student group revenue associated with MIT conducted business must come through the group's internal MIT main account and at no time should it be collected through an external bank account.
Types of Accounts Cybersource Offers a continual service to be able to accept credit cards Information to be found on the Charge MIT website Acteva A one time use account http://pages.acteva. com/mit.html http://pages.acteva. com/mit.html
How to get an account: Complete a business plan Meet with a Student Activities staff member Submit the approved business plan to the Merchant Services Team
Business Plan: Can be found at: https://web.mit.edu/chargemit/secure/becom ing/ https://web.mit.edu/chargemit/secure/becom ing/ Click on the business plan link at the bottom of the page
Processing with Cybersource: MIT will automatically deposit the money into your Student Group account This deposit will be less of the fees associated with the account Refunds: Need to be submitted to SAO Finance by e-mailing email@example.com firstname.lastname@example.org Allow for 2 weeks to process Statements All statements will be sent to SAO and kept on file in your student group account folder
Processing with Acteva: Submit business plan through the Acteva website set-up for MIT through the Charge MIT Website Acteva will send a check to SAO for each group to deposit into their student group account All refunds are handled through Acteva directly.
Fee Structure: Cybersource: MasterCard and Visa MIT has an overall negotiated rate of 2.20% (current). Transaction fees are $.30 for each transaction regardless of the type of transaction, e.g., Authorization, Sale, Credit. American Express Discover Diners Club Variable Rates will vary based on merchant activity. (An estimated rate is 2.8% or 2.9%.) Acteva 5% discount on your Acteva Registration Processing Fees 50% off your Acteva Plus Event Activation Fees credit card companies also charge a Payment Management Fee. This fee is 2.5% for Visa, MasterCard and Discover 3.5% for American Express. Acteva passes this fee through to the Organizer with no markup.
Website/Payment Pages: https://web.mit.edu/chargemit/secure/overview /web.html https://web.mit.edu/chargemit/secure/overview /web.html Gives an example of web based simple payment pages https://web.mit.edu/chargemit/secure/overview /web.html https://web.mit.edu/chargemit/secure/overview /web.html Tells you how to go about creating a shopping cart ZenCart An option that will soon be available Documentation will be found on the SAO Webpage soon.
Questions: How to change Account information? How to change developers on the account? How do student groups set up websites and payment collection options? Chargemitemail@example.com https://web.mit.edu/chargemit/