In an on going effort to increase card holder security, Visa and Mastercard (V/MC) recently issued a policy adjustment that requires all merchants to truncate both the merchant copy and customer copy of credit card receipts. This means that both copies should only showthe last 4 digits of a credit card number.
The good news for you is
There is no need to purchase new equipment to stay in compliance.
I want to emphasize that point because many sales guys in this industry will use compliance as a way to sell more equipment. If you've been approached in this fashion, save yourself some money and kindly tell them to take a hike. Or not so kindly. Whatever you prefer.
Staying in compliance should be a simple matter of downloading a software update on your terminal or POS system. Even though your won't have the full card number on your copy, you will still have access to more detailed information on merchant reports if a question should ever arise on a particular transaction.
Your credit card processor is responsible for keeping you informed of these policy changes. If you haven't been advised to truncate, give your processor a call and have them do it right away. Failure to stay in compliance could result in fines. Big fines, actually. No joke.
Get Truncated Here. It's the hip thing to do.
