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Visa Pushes Back PIN Pad Fine Threat To 2012

Written by Evan Schuman
October 15th, 2009
After some serious retail pushback—particularly in the gas station sector—Visa has relented and agreed to back off an earlier PIN pad compliance deadline originally set for July 1, 2010, some 7-and-a-half months away. The new policy isn't threatening fines until Aug. 1, 2012.

But the changes were mostly fueled by strong retail lobbying efforts. Beyond the convenience retailers that NACS represents, several of the nation's largest chains—including at least one major department store—were threatening to abruptly cut off PIN debit at the deadline, possibly switching to signature debit to temporarily sidestep the issue. The tactic is not dissimilar from what Best Buy did this summer when it threatened Visa over contactless payment debit charges.

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Posted in In-Store, Payment Systems, Premium Content, Security/Fraud, Software
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