NYU Global Payment Card Policy
This document establishes the Policy for New York University’s Global Payment Card Program and applies to all Cardholders. Compliance will ensure Payment Card transactions are incurred and approved in accordance with approved University standards. The Policy will be reviewed and revised annually by the Global Payment Card team and all other relevant teams to reflect current business needs. All permitted exceptions are noted herein.
The Global Payment Card Program is a card product that enables authorized employees to use the Payment Card for approved business-related expenses. The Policy applies to any member of the University community including participating Student Clubs who seek to establish, maintain, approve or conduct transactions in or through NYU Global Payment Card Accounts.
The objectives of the Global Payment Card Program include
- Enhance client satisfaction for all Card Program users at NYU’s schools, administrative units, Global Academic Centers, Student Clubs and portal campuses
- Support administrative functions for Payment Cards
- Maintain effective relationships with our issuing Bank and Cardholders globally
- Minimize financial and operational risks
- Replace check payments with Payment Card payments for Low Dollar Item purchases
- Strengthen governance and infrastructure, e.g. policies, procedures, compliance, technology, security, fraud protection, management reporting, and performance measurement/metrics
Updates and Changes from Previous Policytop
This policy supersedes the NYU Global Payment Card Policy updated in November 2017. Changes include:
- Approver role updated
- Standard card limit reductions
- Additional details on Restrictions and Allowable Exceptions for Gift Card Purchases, e.g. PayPal, Venmo, Zelle, Uber for Business, Lyft Business transactions are prohibited. This Policy includes the same restrictions as the NYU Travel and Expense Policy.
- Approved and Prohibited Purchases updated
- Maintenance Responsibility Section updated
Global Payment Card Rolestop
Global Payment Card Program Manager
The Global Payment Card Program Manager or team manages the Payment Card Program, including Payment Card issuance, reporting, analysis, maintenance, spot audits, compliance, and training. The role also monitors overall performance of the program against qualitative and quantitative goals, identifies revenue and savings opportunities, validates payments and maintains relationships with the Procurement, Accounts Payable (A/P), Financial Reporting, Tax, Legal and Internal Audit teams to ensure that related policies are in alignment.
This role evaluates the need, recommends and approves the issuance of the Payment Card for the Cardholders in a particular school or administrative unit. This role also monitors the timeliness of Payment Card reconciliation in this school or unit.
The individual granted the authority to review in their entirety and approve (or reject) transactions that require the use of University funds. The Card Approver must be either the direct Supervisor; or the Fiscal Officer; or Fiscal Officer team member, or fiscal delegated member of the school / unit. The Card Approver reviews the detailed documentation supporting the Payment Card transactions and approves the transactions for valid business expenses, in accordance with the Purchasing Policies and Procedures Manual, Travel and Expense Policy, Expense Reimbursement Policy, and the Financial Records and Retention Policy for Sponsored Programs.
The Card Approver uses the issuing Bank’s online reconciliation system on a regular basis, as outlined in the Responsibilities of Card Approvers Section.
The individual named on the Payment Card who conducts transactions using the Payment Card on behalf of and for the use of New York University and its departments and/or schools.
Payment Card Issuer
NYU’s Payment Cards including Purchasing, Corporate Travel Account, Student Club, and Fleet Cards are issued by our Bank(s) and Card issuer partners to approved employees of New York University. The Card Issuer(s) processes electronic transaction authorization, fraud protection, details and statements for all purchases made on the Payment Cards. The Card Issuer(s) also provides a web portal for reporting and processing purposes called GRAM.
Global Payment Card – Responsibilitiestop
Card Program Manager / Senior Card Analyst
- Oversee Payment Card Program performance and metrics
- Manage all aspects of client service and continuous improvement for the program
- Submit Payment Card applications to Payment Card Bank issuer
- Develop and monitor Policy and Procedures
- Distribute Payment Cards to schools and units
- Monitor and report on compliance with this Policy
- Execute Disciplinary Actions associated with this Policy
- Assist Internal Audit with data gathering to review compliance and conduct transaction testing with other internal Policies
- Support Internal Audit and legal investigations with data on card usage
- Develop training material and conduct training sessions
- Cancel Cards
- Develop and maintain MCC groupings
- Manage Payment Card Bank Issuer relationships
- Review and approve/deny new Cardholders in Administrator’s school or unit using the GRAM system
- Request cancellation of Payment Cards for Cardholders leaving the University OR switching departments
- Cancel or inactivate cards with no use in a consecutive twelve-month period
- Review and approve/deny limit increases and escalate exceptions
- Initiate journal entries on expired budget or incorrectly debited chartfields
- Review and approve/deny requests access to additional MCC groupings for Cardholders via the Global Payment Card Program Manager
- Review expense descriptions, receipts, other supporting documentation, and chartfields charged using the GRAM system, at least weekly approving or rejecting transactions according to the timeline described in this Policy
- Approver is responsible for ensuring all purchases are in compliance with the Related Policies listed in this Policy and the appropriate payment method was used
- Identify and escalate any personal transactions generated by the Cardholder to initiate repayment to the University
- Request additional MCCs via the Card Administrator
- Use NYU’s Payment Card in compliance with the signed Cardholder Agreement and all Related Policies listed in this Policy
- Upload supporting documentation (i.e. detailed receipts) and expense descriptions to the GRAM System and tag to individual transactions
- Review transactions on the GRAM system at least weekly
- Modify chartfields as necessary
- Split transactions via the reconciliation tool as necessary
- Dispute transactions with the Bank
- Report fraud, lost or stolen Payment Cards to the Bank directly
- Whenever possible in New York State, ensure that tax exempt status is announced to the Merchant to avoid sales taxes on the purchase
- Maintain receipts in accordance with the SPA Handbook (if applicable)
Cardholders Initiating Purchases on Behalf of Others (Alternate Card Reviewer)
- This role is relevant to two populations:
- NYU Student Clubs - Students cannot be Cardholders; an alternate individual who is an NYU employee that manages purchasing and reviewing on behalf of the Student Club
- Administrative Professionals making purchases on behalf of senior NYU employees
- The Club President, or NYU employee for whom an Administrative Professional is making purchases, will have the same responsibility as described under the Cardholder Section of this table
Payment Card Bank Issuer
- Assist Cardholder on fraud, lost, cyber hacked or stolen Payment Cards
- Handle disputes with Cardholder
- Invoice NYU for the monthly consolidated invoices
- Issue Payment Cards and Card Statements
- Maintain GRAM system for clients’ reconciliation and reporting needs
- Provide customer service facilities in all locations where Payment Cards are issued 24/7
- Provide monthly reconciliation feeds
- Retain transactions on website for 3 years
- Approve/deny exception limit increases over Policy terms
- Approve/deny exception purchases outside of Policy terms
- Approve/deny exceptions to restricted MCCs
- Approve/deny requests for card to be enabled for cash withdrawals
- Recommend/enforce disciplinary actions for non-compliance with Policy
Procedures for Implementationtop
Card Requests and Usage
Applying for a Payment Card
Any new Payment Card applicant must complete the NYU Payment Card Application Form for Purchasing, Student Club Cards, CTA and Fleet Cards (see NYU Global Payment Card Manual).
Only a full time employee of New York University or its affiliates is eligible to receive a Payment Card with authorization from the applicable Card Administrator and Card Approver. The most common applicant profile reflects an individual that is making purchases for a school or department, or arranging travel or events for their department. The following are typical examples for Cardholders:
- Administrative Assistants
- Administrative Managers
- Deans, Vice Deans and Assistant Deans
- Fiscal Officers
- Global Site Director
- Members of the Faculty
- NYU Campus Safety and Mail Drivers
- Procurement Managers
- School Administrators
- Travel Coordinators
- Selected Student Clubs
In limited circumstances, multiple Payment Cards may be issued within a cost center. Individual employees may receive multiple Payment Cards for different cost centers within their department in limited instances. For example, Administrative Assistants responsible for several cost centers may have multiple Payment Cards. All exceptions will be authorized only by the applicable Card Administrator.
Prospective Cardholders and Card Approvers are required to attend a Payment Card Program training iLearn course and sign a mandatory Cardholder Agreement before obtaining the card.
Payment Card Limits
The table below describes the maximum allowable monthly and single transaction limits, based on card type. In limited circumstances, Cardholders may request approval from the Card Administrator to increase credit limits in increments on the Payment Card. Higher single transaction and monthly credit limits must be formally justified and may be granted with Treasurer or Assistant Treasurer approval. Cardholders will need to submit a detailed request via email approved by the Card Administrator to the Global Payment Card Manager to initiate Treasurer or Assistant Treasurer approval. Splitting purchases of goods or services with cost greater than the Cardholder’s single transaction limit into multiple smaller charges is prohibited. These limits are delimited in US Dollars; the card limits will be different when covered to another currency.
Student Club Cards
Corporate Travel Account
Monthly Transaction Limit Amount
|$10,000||$5,000||Determined by Club’s Budget Administration Representative||Up to $20,000 based on the need of Department|
Single Transaction Limit Amount
|Determined by Club’s Budget Administration Representative||
Daily Transaction Limit Amount
Capped by single transaction and monthly limit only
Determined by Club’s Budget Administration Representative
Capped by monthly limit only
Daily Transaction Limit Number
Determined by Club’s Budget Administration Representative
Cash Advance Limits (ONLY WITH INDIVIDUAL APPROVAL FOR CASH ACCESS)
Determined by Treasurer / Assistant Treasurer
N/A – Not permitted for Student Clubs
General Payment Card Guidelines (see Addendum: NYU Student Club Cards)
Payment Cards are issued to staff that make business-related purchases, business travel or arrange group travel or events on behalf of New York University.
Payment Cards are university liability cards issued in an employee’s name. Student Club Cards and Fleet Cards are exceptions to this guideline as those are departmental cards. In these programs, the card may be issued to a Club, a designated Public Safety Representative or a Department. Payment Cards should only be used for NYU business-related purchases. The Cardholder named on the Payment Card is the ONLY person authorized to use the Payment Card or account number. The Cardholder may process authorized purchases for other members of the department, in accordance with the University’s Buying and Paying Guide and the Related Policies listed in this Policy.
Utilization of Card:
The Cardholder is responsible for each transaction on the Payment Card and must keep the Payment Card in a secure location at all times. A Cardholder may only use a Payment Card for valid NYU business purposes in accordance with the University’s Buying and Paying Guide and the Related Policies listed in this Policy.
Purchasing Cards (P-Cards), Student Club Cards, and Fleet Cards CANNOT be used to purchase any items restricted under the NYU Travel and Expense Policy.
Examples of Prohibited Uses:
- Any purchases of goods or services prohibited by Related Policies
- Items for personal or non-University purposes
- Any purchase requiring a contract or Purchase Order e.g. professional services, consulting, temp agency
- Employees, independent contractors and consultants may not be paid with a Payment Card
- Purchase of Gift Cards (see below for exceptions)
- Purchase of physical gifts
- Controlled substances
- Laboratory animals
- Office supplies, which are directed to be purchased through NYU’s preferred supplier on i-Buy, except in emergency cases
- Purchases over mobile payment apps such as PayPal, Venmo and Zelle and other similar payment methods
- Uber for Business and Lyft Business accounts
- Purchases from auctions and on-line auctions such as eBay
- Student travel (Except with the Student Club Card), tuition, scholarships or stipends
- Fund 24 and 25 as well as Fund 72 are prohibited to be a default chartfield on any Payment Card
- Alcohol with the following exception: The use of alcohol for business meals and entertainment purposes should be kept to a minimum and must comply with the University’s Drug and Alcohol-Free Workplace Policy and the NYU Travel and Expense Policy. When holding events where alcohol is present a guideline of two beverages per employee on average should be followed.
- Cash advances are not allowed without prior written approval from Treasurer/Assistant Treasurer. If an exception is approved, ATM receipts must be uploaded to GRAM, details of spend and reconciliation in the audit log are mandatory.
When there are questions about prohibited uses of the P-Card, the NYU Travel and Expense Policy will instruct on required compliance.
Student Club Cards ONLY
- Purchasing alcoholic beverages is prohibited
Corporate Travel Account (CTA) Card - Examples
CTA Cards are only eligible for purchases with travel vendors including but not limited to: airlines, hotels, car rentals, rail travel, ground travel (buses, taxis, metro/subway tickets) and travel agencies. When there are questions about prohibited uses of the CTA Card, the NYU Travel and Expense Policy will instruct on required compliance.
Prohibited purchases for CTA Cards include:
- Cash advances
- Personal purchases
- When there are questions about prohibited uses of the CTA Card, the NYU Travel and Expense Policy will instruct on required compliance.
Specific Restrictions on Purchase of Gift Cards
Purchase of Gift Cards of any type is prohibited on all Payment Cards, including P-Cards, CTA Cards, Student Club Cards, and Fleet Cards.
- Bank of America prepaid gift cards may be purchased via a request to Accounts Payable only, due to tax implications. Please contact Finance Link or submit an email request to firstname.lastname@example.org.
- Purchasing of non-cash gift cards, i.e. a gift card to be used at a specific vendor such as Starbucks, etc. is also prohibited on all Payment Cards.
Allowable Exceptions to Gift Card Restrictions:
- Purchasing Digital Amazon Gift Cards (e-cards) for research subjects for $200 or less (each) with an annual cap of $600, is allowed on the P-Card but must be identified in GRAM as research subject compensation along with other supporting documentation according to the Human Subjects Compensation: Financial Guidance Memo issued by the Associate Vice Provost, Research Compliance and Administration.
- Purchasing Digital Amazon Gift Cards (e-cards) for survey or study participants who are non-US citizens ONLY for $200 or less (each) with an annual cap of $600, is also allowed on the P-Card but must be identified in GRAM as alumni survey participant compensation along with other supporting documentation.
- Purchasing Gift Cards for non-US tax payers living abroad and participating in various studies, accompanied by detailed documentation backup, which must comply with NYU’s Anti-Bribery and Corruption Policy
Amazon is a punch-out on NYU i-Buy. Amazon purchases must be completed via i-Buy using the punch-out. However, the process for ordering Amazon E-Gift Cards for research is the Amazon Incentives website with an NYU P-Card as the method of payment is acceptable.
For any exceptions to the above guidelines, please contact the Global Payment Card Program team at email@example.com or use ServiceLink. Please note that each exception requires the written approval of the Card Administrator and Fiscal Officer first. The University Treasurer or Assistant Treasurer must approve all exceptions. See NYU Global Payment Card Procedure Manual.
Accidental Personal Charges on the NYU Payment Card
Payment Cards should not be used for personal expenses. Any and all personal transactions that are erroneously charged to a payment card must be flagged as such in the Bank’s GRAM system by the Cardholder (see NYU Global Payment Card Procedure Manual).
Training and Cardholder Agreements
New Cardholders and Card Approvers must complete mandatory training prior to receiving a Payment Card. The Global Payment Card Program team will contact applicant Cardholders to schedule training once the approved application has been processed by the Card Administrator and the Bank. Training may be completed in person, online or over the phone. Once the Cardholder completes the training, he/she must sign and date the Cardholder Agreement. Please note that the Cardholder Agreement is part of the card application form. Cardholders are required to take a refresher training course and re-sign the Cardholder Agreement every three years upon renewal of the card.
Policy Compliance and Transaction Audit
Payment Card transactions are subject to planned and spot audits and other monitoring activities.
The Global Payment Card Program team will utilize various reports by using the GRAM portal and NYU’s internal reporting systems to monitor compliance with the Related Policies.
Cardholders may be asked to provide appropriate backup documentation to support transactions that are selected for audit.
Disciplinary Actions for Violation
The card may be used to pay for approved NYU business related purchases only, in accordance with the Related Policies and applicable law and terms and conditions of the Payment Card Bank Issuer, as well as the NYU Cardholder Agreement. If the Cardholder or Card Approver does not adhere to this Payment Card Policy or any of the Related Policies identified in this Policy, such action(s) may result in disciplinary action, including termination of employment and/or criminal prosecution for the Cardholder. A Payment Card will be cancelled for lack of timely reconciliation as well as any other violation.
Note: The Card Approver is responsible for the appropriate review of expenditures on the Payment Cards for compliance with Related Policies and if the Card Approver validates any purchases violating those Related Policies, the Card Approver may be subject to disciplinary action, including termination of employment and/or criminal prosecution.
Violations Relating to Late Reviews or Approvals
Specifically, if the Cardholder does not adhere to this this Payment Card Policy with respect to timely reviews and/or approvals, and trending of violations, such actions(s) may result in disciplinary action, including:
- Receipt of a written warning with copy to Card Approver and Card Administrator
- Suspension of the Cardholder’s card with notification to the Dean or Vice President of the School or Unit
- Cancellation of the Cardholder’s card and termination of employment and/or criminal prosecution for the Cardholder, if applicable
P-Card and CTA Card activity is subject to Internal Audit and other monthly monitoring activities. Instances of non-compliance will be communicated and escalated up to and including the Chief Financial Officer (CFO) or Treasurer regarding violations. The CFO or Treasurer may revoke a Cardholder’s Payment Card at any time for any reason in his or her sole discretion. The Cardholder must reimburse the University for all personal, non-approved transactions that they made on the Payment Card.
NYU Student Club Cards
The Center for Student Activities, Leadership and Service (CSL) oversees the NYU Clubs. There are additional Student Clubs that are directly tied to an NYU School e.g., Tandon School of Engineering, Stern School of Business, School of Dentistry, etc.
To create efficiencies for students participating in NYU Student Clubs, the University will offer Payment Cards to pay for approved club related expenditures. The use of this Payment Card process will remove personal outlays of funds and reduce the frequency of reimbursements and payment of petty cash to the student.
The Clubs will be issued departmental cards called Student Club Cards that will be shared by the President, Treasurer and other students. Although the card will be issued to a full time NYU employee in the club office, the students will be entitled with Alternate Approver with Reviewer Access roles to be able to upload receipts, modify chartfields, include the expense description and review the expenses.
Merchant Category Grouping will be limited. The Single Transaction Limit and Monthly Credit Limit will be determined by the Club Student Affairs Representative, although the limits will generally be much lower than as specified therein.
If a personal or non-business charge is made using the NYU Student Club Card, or accidental or emergency charges are made on the NYU Student Club Card by a student, the student user is required to contact their Card Administrator to provide reimbursement to the University as described under the Accidental -Personal Charges on the NYU Payment Card section in NYU Global Payment Card Procedure Manual.
Financial Record Retention Policy for Sponsored Programs
Payment Card Industry Data Security Standard
Procurement Policy (Purchasing Policies and Procedures Manual)
Retention and Destruction of Records Policy
Overview of New Travel and Expenses Policy for NYU Community
Card Application Forms
Application forms are available at the Payment Card web portal, URL is listed below:
Email completed and approved application(s) to firstname.lastname@example.org
- Purchasing Card (P-Card) Application
- Purchasing Card Application for Cardholders outside of the US
- Corporate Travel Account (CTA) Card Application
- Fleet Card Application (email email@example.com to request an application)
- American Express Travel & Entertainment Card Application (For security purposes return completed form via FAX to: 212-443-0694)
Payment Card News & Reminders
Mandatory Training Sessions posted on iLearn
- Link to Cardholders training session – FIN 210 (NYUHome login required)
- Link to Card Approver’s training session – FIN 211 (NYUHome login required)
Treasury - Global Payment Card Team:
Global Banking & Cash Management
105 East 17th Street, 3rd Floor
New York, NY 10003
Payment Card Phone Lines:
Toll Free: 1-866-698-5601 Mailbox: 43222
Bank of America
24/7 Customer Service by region:
(including USD Cross Border) Toll Free: 1-888449-2273
International Free Phone: 00800 0456 7890
International Direct Dial: +44 (0)207 839 1481
Local Direct Dial: (61) 2 8066 2412
- Dates of official enactment and amendments: Dec 1, 2008
- History: Updated 4/15/15, 11/1/17, and 9/1/21
- Cross References: blank
About This Policy
Effective Date Supersedes NYU Global Payment Card Policy (03/15/2015; Update on 03/29/2017 and 11/1/2017) Issuing Authority University Treasurer Responsible Officer Assistant Treasurer, Global Banking, Cash Management and Treasury Operations
Bank of America (BofA) Cards
The University transitioned the P-Card and CTA programs to a global platform with a corporate liability Master Card Program in 2015.
University (Corporate) Liability
P-Cards, CTA Cards, Student Club Cards, and Fleet Cards are paid by the University and liability is with the University.
Corporate Travel Account (CTA) Card
The CTA Card is used for business travel expenses for infrequent travelers in a department (for example, those that travel 1-3 times/year); individuals who do not have a Travel Card and University guests / visitors (e.g., job applicants, speakers). The CTA is a university liability card and does not impact the Cardholder's personal credit.
These specialized Payment Cards are utilized to purchase fuel and conduct maintenance on University owned vehicles.
Global Payment Cardholder
Cardholders who are managing NYU programs and facilities at locations outside of the United States, including NYU Global Academic Centers, and who are living at these locations on a permanent basis or longer than six months at a time.
Global Academic Centers
NYU locations outside of New York and Brooklyn.
Bank of America’s online reconciliation system is called Global Reporting and Account Management (GRAM). All card transaction reviews and approvals are performed in GRAM, including the uploading of purchase receipts and required purchase expense descriptions.
Purchase of goods or services totaling $2,000 or less.
Merchant Category Code (MCC)
A system of four-digit codes, maintained by the card networks, (e.g., MasterCard, Visa), used to identify a merchant's principal trade, profession or line of business; an MCC is assigned to a merchant by the merchant or merchant acquirer. Examples include: 4215-Fedex, 5942-Amazon Marketplace, 8299-Schools and Educational Services.
University employees are advised to use established University methods to incur business expenses in accordance with the University's Buying and Paying Guide. When expenses are related to travel, the T&E Card or the Departmental CTA Card should be used.
A university liability credit card issued to an employee of NYU for the purpose of making authorized business purchases on the University’s behalf. This term does not refer to the Travel Cards (T&E) (see definition), nor does it refer to an individual’s personal card used as an expense reimbursement tool – both of which are not covered under this Policy. This is a generic term for any Payment Card issued through the Global Payment Card Program, including the Purchasing Card, Corporate Travel Account (CTA) Cards, Fleet Cards, Student Club Cards, each of which are defined in this Section.
Purchasing Card (P-Card)
The NYU Purchasing Card, commonly referred to as a “P-Card,” is a tool offered to New York University employees who are responsible for procuring goods and services for their department. The P-Card is a university liability card used for purchasing Low-Dollar Items generally not available on the i-Buy market place; it has no effect on the Cardholder’s personal credit. The P-Card provides University employees with a quick and convenient method of payment.
Student Club Cards
These departmental Payment Cards are designed to fulfill the purchasing needs of selected NYU Student Clubs.
A commitment by the University involving the exchange of money or property, an obligation to perform services requiring payment or use of University resources, or the assumption of a liability (e.g., indebtedness) or potential liability, currently or in the future (e.g., NYU agreeing to indemnify another party).
Travel Cards (T&E) Cards
These cards are American Express (AMEX) Travel and Entertainment (T&E) personal liability cards that are used to pay for business travel and entertainment expenses. The issuance of the Travel Card is recommended for frequent travelers. The traveler is responsible for submitting expense reimbursement requests to Accounts Payables after each trip. Due to the individual liability on the card, the Cardholder's credit rating may be impacted if payment is delayed. The University’s governing Policy for the Travel Card is the NYU Travel and Expenses Policy and is not covered by this Policy.
University Community (Expense Reimbursement Policy)
All NYU faculty, including visiting faculty; researchers, including persons participating in research at or under the auspices of NYU; employees; professional staff, including medical, dental, and nursing staff; volunteers; fellows, trainees, and post-doctoral appointees; students; consultants, vendors, and contractors.
University Funds (Expense Reimbursement Policy)
All funds received from internal or external sources and owned by the University, which carry fiduciary responsibilities.
NYU Travel and Expenses Policy
Financial Record Retention Policy for Sponsored Programs
Payment Card Industry Data Security Standard
Procurement Policy (Purchasing Policies and Procedures Manual)
Retention and Destruction of Records Policy