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MasterCard Updates You Need To Know About
MasterCard Updates You Need To Know About
MasterCard cards are issued with account numbers beginning with a “5”. Beginning in 2017, MasterCard cards will also be issued with account numbers beginning with a “2”.  The cards beginning with a 2 will be processed in the same manner as current MasterCard cards.

MasterCard requires that all businesses with point-of-sale systems accepting the current 5 series cards must also be able to accept the cards with the new 2 series number. Please contact DBS directly to determine if any action is needed to ensure your system is in compliance and can accept the new 2 series cards.

Your failure to accept the new 2 series MasterCard cards after June 30, 2017 may result in non-compliance assessments being passed on to you from MasterCard– as well as potential lost revenue associated with not accepting customers’ cards.

 

Please click here to see MasterCard's website about this change.

 

The MasterCard fee schedule for non-compliance is:

•             Up to $2,500 per occurrence for first 30 days

•             Up to $5,000 per occurrence for days 31-60

•             Up to $10,000 per occurrence for days 61-90

•             Up to $20,000 per occurrence for subsequent violations

 

It is the client's responsibility to contact us before June 30, 2017. Please reach out to our Sales team at sales@dbs4pos.com or by phone (302) 395-0900 ext. 812.  

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