MasterCard is already issuing cards beginning with a '2' to some cardholders. You don’t want to miss potential sales because your terminal is not updated. MasterCard is also sending out secret shoppers to verify businesses are prepared. While MasterCard will not issue fines for a few months, it is imperative your business is ready for the 2-series.
MasterCard is helping businesses like yours prepare for this important expansion by conducting assessments to uncover any internal systems and processes potentially affected by the expansion to 2-series.
All merchant POS (Point of Sale) terminals and related systems, webpage checkout software and anywhere a MasterCard card number is accepted or housed, must be 2-series ready. If your terminal is not updated for 2-series acceptance, your business could suffer unnecessary financial losses or be subject to non-compliance fees from MasterCard.
Click here for more details from MasterCard on timing, how this impacts different audiences and more. Or reach out to your support help desk at the phone number listed on your monthly statement.