Wednesday, April 5, 2017

MasterCard May 1st 2017 Mandate for New Numbers - Will RMS Process the New Cards?

As retailers report receiving more letters and emails from WorldPay, Heartland and other merchant services companies related to the MasterCard 2 Series Bank Identification Number (BIN) Mandate, the biggest question is "will I be able to accept and process the new cards if I am using the Microsoft Dynamics RMS point of sale software?"

A quick reminder that this mandate goes in to effect on May 1st, 2017. Not being able to accept and process the new number sequence on these MasterCard credit cards means fines of up to $20,000 per the letters and emails that have been shared with us.

As for the question, the short answer is "yes, but...". We've done some testing and RMS appears to handle the new card numbers. However, there are quite a few variables at play related to the version of RMS being used and any add-ons being used with RMS.

There is also the reality that new payment processing requirements are being introduced on a fairly regular basis and RMS is not being updated to accommodate these requirements. A better solution is looking at Card Defender which integrates with RMS but assumes all the payment processing liability using the latest in payment processing terminals as well as being updatable to meet or exceed present as well as future payment processing requirements.

Because of the variables involved, as well as future payment processing requirements, the best answer to the question is "Yes, but please contact RITE at 888-267-7483 or in order to discuss your specific situation and look at the best course of action".

No comments:

Post a Comment