Pop Quiz: Credit Card Authorization Forms

Credit Card Authorization Forms Pop Quiz Answers

1. 1. 1. 1. 1. No. Per PCI 3.2, neither Primary Account Number (PAN) nor Card Verification Code (CVV) can be stored on paper after authorization.

                

            2. No. Per PCI 3.4, you must render PAN unreadable anywhere it is stored (including on portable digital media, backup media, or in logs) using one of four cited approaches.

                

            3. No. Per PCI 4.2, vendors should never send unprotected PANs by end-user messaging technologies (for example, e-mail, instant messaging, SMS, chat, etc.).

                

            4. No. Most cards, except regulated debit, can qualify for multiple rates depending on how the transaction is submitted. For example, MasterCard World card rates:

                

               MasterCard World card rates:
               Rate Name	Rate	Qualified Rate Reason
               Standard	2.95% + $.10	Not all criteria met for another rate.
               Merit I	2.05% + $.10	Key-entered or ecommerce and valid authorization + other criteria met.
               Full UCAF	1.87% = $.10	Ecommerce;Cardholder authentication and other criteria met.

                

               Ecommerce includes online paypage and other electronic payment channels where customer initiates payment.

            5. No. If a customer authorizes to store a card, there's specific rules for storing and processing the initial transaction and all subsequent transactions. For example, all subsequent transactions must be sent with the correct transaction type- recurring, installment, or unscheduled credential on file- and that's driven by the payment processing technology on the first transaction. Failure to comply can result in issuer chargeback, reason code 72, no authorization. (Any time rules not followed an authorization is invalid.)