Fair and Accurate Credit Transactions Act (FACTA) Announcement
– J.D. Associates Support Department
Are your register receipts in compliance with the law? Do you know the law? If not, it could cost you lots of money and your professional reputation. You can’t afford to lose either. J.D. Associates can help you get compliant with the law.
Let’s start with the law: Fair and Accurate Credit Transactions Act, or FACTA, makes it illegal for a retailer to electronically print more than the last 5 digits, or a credit/debit card number in full, on the receipt. It’s also against the law to print the card’s expiration date on the receipt; it must be deleted. The account information must be shortened, or truncated.
Check your receipts today to ensure you’re in compliance with a law that’s been in effect for all businesses since December 1, 2006. It was originally passed in December 2003 and has been phased in gradually. It required merchants with new electronic card-processing machines to comply by December 2004; merchants with older machines were given December 1, 2006 as their deadline for compliance.
Make sure your receipt design is in compliance with the law. If not, J.D. Associates can help you by reviewing the design and making the necessary changes on your receipt. Non-compliance could encourage a lawsuit from the Federal Trade Commission (FTC). Consumers can collect damages and attorney’s fees. In short, it could ruin you financially. Any retail store producing receipts that display complete credit card numbers can be penalized and closed. They can also be placed on the ‘terminated merchant file’ which may prevent them accepting credit cards in the future.
What Should You Do?
If you have a current support plan, call the Support Desk 978-840-2096 x1 to schedule a support call to delete the expiration date from your receipt. Minutes could save you thousands.
If you don’t have a current support plan, call the Support Desk 978-840-2096 x1 to discuss your options. You might consider purchasing a 3/6/12-month Support Plan to get your software questions answered on-demand.
