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#1523047 - 03/17/11 02:50 PM Debit Card with PIN based transactions only
JoeCompliance
Unregistered

We have a customer that wants a debit card that only allows PIN based transactions. Shazam said ok but check with compliance. I could find nothing wrong with it other then it should be ok'd by management as well.

Does anyone see any compliance issues with setting the card up to only allow PIN based transactions?

Thanks

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#1523117 - 03/17/11 03:18 PM Re: Debit Card with PIN based transactions only
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
In essence, that's an ATM card that can be used in a network with POS capability. NYCE allows it, as an example. But it could not be used at a retailer that doesn't accept regional ATM cards.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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