States Requiring Full (Cardholder and Merchant) Receipt Truncation:
Colorado - as of 01/01/2006
Tennessee - as of 01/01/2007
California - as of 01/01/2009
Under the current legislation in Colorado, Tennessee and California, a merchant is required to truncate both the cardholder and merchant copy of the receipt by masking the card number and the expiration date as follows:
Card number truncation is defined as masking all but … more
The continuing adoption of credit and debit cards worldwide has cushioned the effects of a U.S. slowdown. Visa and MasterCard, which collect fees to shuttle payments between financial institutions, are insulated from rising credit-card defaults because the networks process transactions and don’t make loans to cardholders. Banks that issued Visa and MasterCard to cardholders … more
However the resilience of Visa can be seen in the contribution of debit products in the US as consumers continue to more frequently use debit as a method of payment. In fact, 95% of the volume in the Visa system comes from people that use debit cards which don’t have a credit limit or a credit card from people that either pay their bill in full every month or occasionally revolve and never revolve at more than 50% of their line. Visa is … more
Read more about April 2009 Interchange adjustments...
