Sunday, February 17, 2008

Receipts reveal too much information

Merchants need to make sure their credit card terminals are not making life easy for card thief's. Take a look at a customers receipt is it showing more then the last 5 digits of the cardholders account number? If it is your in violation of the Fair and Accurate Transactioions Act of 2003 or FACTA. Why with FACTA being assed, which prohibits mechants from printing full card numbers on receipts beginning Jan 1, 2008 still appearing on receipts? If you think that you will require the full card number in the event of a chargeback your mistaken. This is what the merchants needs in the event of a chargeback. A expiration date, a transaction ID, the last four digits of the card number and an authorization code, according to VISA nothing else. So if your receipts are showing full account numbers get in touch wih your processor and change that printer quick, or better yet contact Preferred Merchant Services and we will provide a compliant unit to your business.

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