Year 2000 Terminal Compliance
The push is on to get all point-of-sale terminals modified to handle credit cards with expiration dates of 2000 and beyond.
Apparently, efforts to solve the year 2000 problem have not been moving fast enough for Visa USA. The association has instructed its members to cease issuing cards to consumers bearing "00" expiration dates until further notice.
While Visa seems concerned, MasterCard International has declined to issue a similar edict, although a spokesman says MasterCard is "highly recommending" that its member banks not proceed with general issuance of cards bearing year 2000 expiration dates.
In addition, Visa has sent notice that all terminals must be Year 2000 complaint by the end of March 1997, or significant fines will be levied against bank processing members.
Many banks have begun notifying their ISOs that the responsibility for these modifications fall on the ISO, which suggests that any fines levied may well be passed along.
