Thursday, August 20, 2009

Completing the Sales Receipt

The following information and requirements are relevant to the completion of the sales receipt:
  • Include all goods on one sales receipt. All goods and services purchased in the same transaction must be included on a single sales receipt.
  • Sales receipt information requirements. The following information must be included on the sales receipt.
    • A description of the goods. A description of the goods and services and their price, including applicable taxes, must be entered on the sales receipt in detail sufficient to identify the transaction. If no currency is identified on the sales receipt, the transaction is considered to have taken place in the currency that is legal tender at the point of interaction. If the merchant offers multiple currencies, then the sales receipt must indicate all of the following information:
      • The transaction amount in the merchant's local currency (the goods or services total).
      • The converted transaction amount in the currency chosen and agreed to by the cardholder and the merchant (the sale total).
      • The currency symbol of each.
      • The method by which the currency agreed to by the cardholder was converted from the amount in the merchant's local currency.
    • The transaction date. The transaction date must be entered on the sales receipt.
    • An imprint of the card. A legible imprint of the card must be made on the sales receipt, or the merchant may electronically record the customer's card information and the merchant location. If a transaction is completed without obtaining a card imprint or electronically derived card information, the merchant must note legibly on the sales receipt sufficient detail to identify the cardholder, the merchant, and the card issuer. This information must include at least the name and address of the merchant, the name or trade name of the card issuer as it appears on the face of the card, the account number, the security code, the expiration date (or dual date), the cardholder name, and any company name.If the transaction is completed without obtaining a card imprint or electronically derived card information, the merchant is considered to have verified the true identity of the customer as the cardholder, unless the merchant obtained and noted on the sales receipt independent evidence of the cardholder's true identity.

      Transactions based on mail orders, telephone orders, preauthorized orders, electronic commerce orders, Guaranteed Reservations and Advanced Resort Deposits may be completed without a card imprint.
    • The authorization number. If an authorization is obtained from the card issuer, unless the transaction is an offline chip-read transaction, the authorization number must be entered on the sales receipt. If more than one authorization is obtained over the course of the transaction (as may occur for hotel, motel, or vehicle rental transactions), all authorization numbers, the amounts authorized, and the date of each authorization must be entered on the sales receipt.
    • The primary account number. The primary account number (PAN) must be truncated on all cardholder-activated terminal sales receipts. Subject to local and national laws, PAN truncation is permitted on any other sales receipt type. It is recommended that only the last four digits of the PAN are printed on the receipt. Truncated digits should be replaced with fill characters such as "x," "*," or "#," and not with blank spaces or numeric characters.
    • Delayed presentment. When the merchant receives approval for delayed presentment, the authorization number and the words "Delayed Presentment" must be noted legibly on the sales receipt.
    • Cardholder identification. For unique transactions processed in a face-to-face environment (with the exception of truck stop transactions and card-read transactions where a non-signature CVM is used), the merchant must record on the sales receipt a description of the unexpired, official government document provided as identification by the cardholder, including any serial number, expiration date, jurisdiction of issue, customer name (if not the same name as embossed on the card), and customer address.
    • The transaction certificate. The transaction certificate is not required on the sales receipt. However, if the acquiring bank elects to record the receipt of a transaction certificate on the sales receipt, then the merchant must enter the complete transaction certificate on the sales receipt.
    • Prohibited information. The sales receipt or any other document must not reflect the following information:
      • The PIN, any part of the PIN, or any fill characters representing the PIN.
      • The card security code (CVC2, CVV2 or CID), which is indent-printed on the signature panel of the card.
  • Obtain the cardholder's signature. In a face-to-face environment, the merchant must give the cardholder the option of a signature-based transaction. Unless the cardholder uses a PIN, the cardholder must sign the sales receipt.
    • Compare signatures. Unless the cardholder uses a PIN, the merchant must compare the signature on the sales receipt with the signature on the card to determine whether they appear to be the same.
    • Discrepancy between signatures. If the merchant believes that the signature on the card does not match the signature on the sales receipt, the merchant must contact the acquiring bank for instructions. The signature would not match if the signature panel were signed "John P. Smith" and the sales receipt "Stan Smith" or K. Smith." The signature would be acceptable if signed "John P. Smith," "J. P. Smith" or "John Smith." The signature would be acceptable if a title such as Mr., Mrs., or Dr. is missing or is included.
    • Signature not required. Transactions based on mail orders, telephone orders, preauthorized orders, electronic commerce orders, Guaranteed Reservations, Advanced Resort Deposits and Express Checkouts may be completed without the cardholder's signature. The merchant must type or legibly print on the signature line of the sales receipt the letters "TO", "MO", "PO", "EC", "Guaranteed Reservation / No Show," "Signature on File – Express Check-out," or "Advance Deposit" as appropriate. The merchant must retain and make available to the acquiring bank upon request the cardholder's written request to the merchant for preauthorization. The merchant must not deliver goods or perform services covered by a preauthorization after receiving notification that the preauthorization is canceled or that the card covered by the preauthorization is not to be honored.
  • Give the cardholder a copy of the receipt. The merchant must provide the cardholder with a true and completed copy of the sales receipt.

1 comment:

  1. Are these requirements for sales receipts something of "good business practices" or of dictated by FTC laws?

    ReplyDelete