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Editor's note: The following questions were posted to the Ask The Green Sheet section of GS Online's MLS Portal, a space for making inquiries directly to The Green Sheet staff.

Our response (below) is an example of how we follow up on a posted question. Here we responded to the original posting and then turned it into a news story: "Truncation Applicable to Merchant Receipts?" ran in the March 28, 2005 issue (05:03:02) of The Green Sheet.

Follow a Thread on Card Receipt Truncation

This question was asked in the MLS Forum by "Debitboy." I thought that you may be able to provide the information:

"Do Visa and MasterCard require the account number to be on the merchant receipt for validation in retrieval and chargeback situations?"

- 4Core

Recent huge news reports on ID theft caused several calls from merchant[s] to me on this. Can we truncate on both copies? What's the ruling from Visa/MasterCard?

- Chinatown

4Core and Chinatown:

Currently, no rule-making bodies, whether federal or state legislatures or card Associations, require merchant copies of receipts to truncate account numbers. The number of digits that terminals are allowed to print, and whether they can print the expiration date, vary by agency or organization.

All POS terminals will, however, need to be in compliance with card Association regulations on truncating information on customer receipts. Visa's rule says that all electronic POS equipment must be compliant by July 1, 2006. Many U.S. states have their own schedules for compliance, and merchants should be familiar with the rules of the state in which they do business.

- Editor

A Few Comments From ETA ...

Following are some of the comments our readers made at The Green Sheet's booth at the 2005 Electronic Transactions Association's (ETA) Annual Meeting and Expo:

How does The Green Sheet benefit your business?

  • Provide leads for value-added partners/distributors; create brand awareness
  • Keep contacts and builds business
  • Excellent advertising channel
  • Recruiting
  • Education
  • Information provided
  • Excellent industry news and information; ad opportunities
  • Research and product information
  • Great information to keep up to date on
  • Keeping current with the new trends
  • The ads let me see who to target as up and coming ISOs

Thanks, and keep reading!

- Editor

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.
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