Rants, Raves, Reviews


Visa and Mastercard must be losing some money

By Gary R, in , posted: 26-Jun-2007 09:15

For years businesses who accept credit card transactions have had a designated floor limit which means that the business can accept CC payments up to a certain amount when the 'card is not present' before obtaining authorisation for the transaction. The card is not present in instances of mail and phone orders. This is where the transaction is manually processed via a 'zip zap' machine.

Today we received a letter:

'From 9 July 2007, all manually processed phone and mail order transactions for Visa and MasterCard merchants must be authorised. Previously, authorisation was only needed if a transaction was over a certain value (or 'floor limit'). Visa and Mastercard International have set these limits to $0 for all manually processed paper based credit card transactions where the card is not present. That simply means you have to call for authorisation no matter what the value of the transaction'.

Not a problem for us because we have 'on-line' electronic CC processing terminals.











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Gary R
Wellington
New Zealand


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