Wednesday, December 2, 2009

Point-of-Sale (POS) Card Retention

Acquirers and merchants are required to recover a card by reasonable and peaceful means if:
  • The card issuer advises the acquirer or merchant to recover the card in response to an authorization request.
  • The Electronic Warning Bulletin file or an effective regional Warning Notice lists the account number.
After recovering a card, the merchant must notify its authorization center or its acquirer and receive instructions for returning the card. If mailing the card, the merchant first should cut the card in half through the magnetic stripe.

Returning Recovered Cards

The acquirer must follow these procedures when returning a recovered card to the issuer:
  • If the merchant has not already done so, the acquirer must cut the card in half vertically through the magnetic stripe.
  • The acquirer must forward the recovered card to the issuer within five calendar days of receiving the card along with the first copy (white) of the Interchange Card Recovery Form (ICA-6). The additional copies are file copies for the acquirer's records. A recovered card must be returned to the security contact of the issuer.
Returning Counterfeit Cards

The acquirer or merchant must return counterfeit cards to the issuer by following the instructions provided by its authorization center. The following information identifies an issuer:
  • The issuers bank identification number (BIN) embossed on the front of the card.
  • The member ID imprinted in the Card Source Identification area on the back of the card.

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