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Visa Relaxing Its Retail Credit Card Security Threats

Written by Evan Schuman
August 15th, 2007

For more than a year, Visa has ominously warned large retailers that it would enforce a strict Sept. 30, 2007, deadline for many of the nation's largest retailers to either be certified that they comply with industry credit card security requirements or face fines and being expelled from discounted credit card fee programs.

But as the deadline has gotten closer—and the percentage of retailers certified as compliant is still quite low--Visa has been forced to back off, albeit slightly. This month, Visa has been quietly floating memos that will soften the pain for non-compliant retailers, as it's become clear that non-compliants will have strength in numbers come early October.

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Posted in IT Strategy/Industry, Mobile/Wireless/Contactless, Payment Systems, Premium Content, Security/Fraud
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One Comment | Read Visa Relaxing Its Retail Credit Card Security Threats

  1. I.F. Says:
    August 17th, 2007 at 12:42 pm

    Looks to me like more evidence that the banks are seeing the writing on the wall: their interchange practices are untenable, and their policies are hurting the same retailers they depend on for transaction and processing fee revenue. No wonder so many bars and convenience stores are going credit-free lately.

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