August 3, 2008

New Credit Card Processing Legislation Passed In Tennessee and California

New legislation has been passed in Tennessee and California that will change the credit card information that is printed on receipts, the information is now required to be truncated on both the customer copy and the merchant copy of the credit card receipt. This will affect many merchants in these two states and require that they comply with this new legislation in regards to credit card processing. More details on this new credit card processing legislation are listed below:
Tennessee
Effective January 1, 2007, a new provision of the Tennessee Consumer Protection Act went into effect. The new consumer makes it illegal to electronically print more than the last 5 digits of a credit card number and the card expiration date on receipts retained by merchants and the receipt provided to customers.
This is an excerpt taken from the Chattanooga Bar Association, www.chattbar.org/www/docs/114, regarding the change to the law in Tennessee regarding credit card truncation:
In 2005, the legislature prohibited persons who accept credit cards or debit cards for business to print or cause to be printed more than five digits of the card number or the expiration date on either the receipt retained by the merchant or the receipt provided to the […]

Full Article At: KnowHow-Now.com Articles

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