As your payments partner, we are committed to keeping you up-to-date with industry changes and card brand developments.
With effect from April 2020, both Visa and Mastercard will require all transactions - relating to returned products, cancelled services, or a price adjustment related to a prior purchase - are authorised in much the same way as debit transactions are authorised today.
- A two-year exemption has been granted for merchants located in Ireland and the UK, meaning they will have until April 2022 to comply.
- Visa have exempted airlines and mass transit models (under certain Merchant Category Codes) from this requirement. Mastercard have not cited any specific merchant exemptions.
Action required:
Please ensure that your terminal provider is aware and is working to ensure this functionality is updated within your terminal estate.
Should you have any questions, please contact your relationship manager.