Fair and Accurate Credit Transaction Act of 2003 (FACTA).
|In an effort to maintain the highest levels of consumer and merchant security, we would like to remind you that credit and debit card number truncation and expiration date masking are federally mandated by the Fair and Accurate Credit Transaction Act of 2003 (FACTA).|
According to the rules provided by FACTA, all receipts must have the card number truncated, which means that no more than the last five (5) digits can be shown; the other numbers are usually masked by X’s. Similarly, the entire expiration date of the card must be masked, again, usually by X’s, on cardholder receipts. These rules were put in place to protect consumer identity and security.
The federal FACTA rules need to be followed over state-specific regulations, unless the state calls for rules that are more stringent than FACTA (and still meet FACTA rules). In that case, the merchant must follow the state regulations. However, in situations where the state rules call for less stringent provisions than FACTA, FACTA rules must be followed. Terminal downloads provided by North American Bancard are properly built to truncate and mask. However, if any of your merchants discover that the cardholder receipt does not abide by the rules, please have them contact Technical Support right away.
If you have any questions regarding FACTA regulations or this announcement, please contact your ISO Support Representative or the ISO Support Team.