Do your receipts still display the customer's full credit card number? If so, switch to an updated system or you'll risk violating a new law.
You still have at least a year to update your cash registers or other receipt-printing devices, but it's smart to start now.
Here's the deal: On Dec. 4, President Bush signed a bill that renews and alters the(FCRA). It requires that business receipts display no more than the last five digits of credit card and debit card numbers and no more than the first five digits of Social Security numbers.
You can either truncate the numbers or black them out. Receipts cannot show card expiration dates.
Cash registers and other machines in use before Jan. 1, 2005, must comply with the law within three years. Machines put in service after Jan. 1, 2005, have a year to adopt the standards.
Technically, the law doesn't apply to transactions in which an imprint, copy or handwriting is the sole means of recording a card number. But if you still handle credit transactions one of those old-fashioned ways, you'd be wise to switch to machine-generated receipts to avoid identity theft accusations.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/5797/make-sure-customer-receipts-comply-with-new-credit-law "