Finance
Credit Card Compliance

Attention: Yale Credit Card Merchants

FACT compliance

The December 4, 2006 deadline for compliance with FACT, the Federal Fair and Accurate Credit Transactions Act of 2003, is rapidly approaching.

FACT prohibits any person who accepts credit and debit cards from printing more than 5 digits of the card number on the receipt given to the cardholder.

If your credit card swipe machine or cash register prints the entire credit card number on the receipt given to the customer please contact Agnes.Siniscalchi@Yale.edu for assistance.

PCI compliance

The credit card associations (American Express, Mastercard, Visa and Discover) have established the Payment Card Industry Data Security Standard for all merchants. Compliance with these standards will increase consumer confidence, reduce fraud and identity theft and ensure that Yale can continue to accept credit card payments.

Each department that accepts credit card payments will be contacted by Treasury Services to schedule a one hour meeting to complete the PCI self-assessment questionnaire.  No preparation is required on the part of the department. Treasury will need access to the swipe machine/cash register/software and the credit card statement reconciliation.

For questions regarding PCI compliance please contact Agnes.Siniscalchi@Yale.edu.