About the SET Card Program
The purpose of the Single Event Travel (SET) Card program is to reduce the amount of travel advances issued thereby minimizing overall risk to the university. The SET Card is a one-time use card that works as a declining balance credit card. The SET Card has a PIN feature that allows for cash to be withdrawn at ATM’s. There are no monthly fees and no foreign transaction service charges.
The SET Cards were initially established for Education Abroad programs that were previously being issued large sums of money. The first SET Card was issued in November 2016 and 9 cards were issued as part of the pilot program in 2017. Given that the pilot program was a success, Education Abroad requested SET Cards to be issued for all of their programs.
SET Cards are now being utilized by Education Abroad and Intercollegiate Athletics with the possibility of it being utilized by other departments that need travel advances.
Restrictions can be set by:
- Overall credit card limit
- Single transaction limit
- Merchant Category Codes (MCC’s)
- Cash withdrawal limit
The SET Card program is administered through the Office of Procurement Services. The transaction allocations are completed by the end-user department and the reconciliation is completed by Financial Services. All SET Card transactions will need to adhere to the university’s Fiscal and Travel policy.
The SET Card program utilizes a VISA credit card as the purchasing instrument. The credit card is issued by United Missouri Bank (UMB) through a contract established by the State of Missouri, Division of Purchasing and Materials Management.