I got a letter today outlining new regulations from creditcard companies, and while most was standard stuff (reporting security incidents, destorying outdated cards, etc....), one point stuck out to me:
"Do not store the following under any circumstance:
- Card-validation code (three-digit value printed on the signature panel of a mastercard, visa, discover, JCB or Diners Club card, and four-digit code printed on the front of an American Express card."
Wouldn't this effectively kill rebills? I know some banks will still let cards through without the 3-digit code, but in most cases transaction will be declined without it.
If this policy is enforced (seems doubtful though), I think it would effectively kill creditcard rebills....don't you ???
"Do not store the following under any circumstance:
- Card-validation code (three-digit value printed on the signature panel of a mastercard, visa, discover, JCB or Diners Club card, and four-digit code printed on the front of an American Express card."
Wouldn't this effectively kill rebills? I know some banks will still let cards through without the 3-digit code, but in most cases transaction will be declined without it.
If this policy is enforced (seems doubtful though), I think it would effectively kill creditcard rebills....don't you ???





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