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MasterCard Fines Start NOW

On Monday, I told you all about a MasterCard fine schedule but I was unsure on when it was going to start. Well, as it turns out Level 2 and 3 merchants are being fined NOW, not sometime after the December 2010 date.

That's right, some Level 2 merchants have already received their first $25K fine from MasterCard under their new fine program. Apparently, that's how many of the acquirer's found out about the program!

Posted by Branden Williams on July 29, 2009 4:43 AM |

Comments

Branden,

Do MasterCard and/or Visa list either the individual fines meted out, or at least a "total fines this year" table? I have been unable to find this information anywhere - interested to know if you have any clues!

Thanks,
Emma.

Posted by: Emma Jenkins | August 6, 2009 3:58 AM

Other than the breakdown I put in the previous post, there is not too much readily available information for us lay people! You should contact your Acquiring Bank to get an exact number for your company.

Posted by: Branden Williams Author Profile Page | August 6, 2009 4:41 AM

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