Code 10 Authorization for Risk Management
There are numerous risk management solutions that can help prevent fraud and unnecessary monetary loss for any business. In today's increasingly electronic business world, keeping credit card and customer information confidential is vital. Fraud can happen anywhere; whether you sell goods over the internet or phone, or have face-to-face transactions with your customers. “Code 10” is a simple way to detect suspicious activity just by answering a series of yes/no questions to verify the cardholder’s information. By following a few simple tips and guidelines, you can manage your risks and detect fraudulent activity before it gets out of hand.
To learn more about protecting your business, click here.
Truncation - Protecting Customers' Credit Card Numbers
In an effort to minimize the opportunity for credit card fraud, Visa and MasterCard, along with numerous state legislatures, have mandated that credit card account numbers and expiration dates be masked on consumers' receipts. New truncation compliance does not apply to transactions in which the only way to record the card number is via hand writing or an imprint or copy of the card.
State Legislative Requirements
Some states have already implemented laws concerning card truncation. Penalties for non-compliance vary by state. We recommend visiting your state's public information sites to determine if your state is one of those requiring card account truncation.
Visa Requirements
Effective July 1, 2006, for all existing terminals, Visa USA mandates that all but the last four digits of the cardholder account number, and the entire expiration date, be truncated on the cardholder copy of all transaction receipts generated from Point of Sale terminals.
MasterCard Requirements
Effective April 1, 2005 MasterCard requires all cardholder receipts generated by Point of Sale terminals, must reflect only the last four digits of the primary account number.
Update Your Terminal
Contact Merchant Services at 1-866-451-4004 or email customer service and a merchant services representative will contact you to update your terminal. Please include your merchant identification number in the email.