Common use of MAGNETIC STRIPE CARD CHARGES Clause in Contracts

MAGNETIC STRIPE CARD CHARGES. When presented with a Card at the point of sale you must: • Verify that the Card is not visibly altered or mutilated. • Verify that the customer is the Cardholder (Cards are not transferable). • Obtain an Authorization Approval. • Capture Magnetic Stripe data by swiping the Card (unless the Charge was already initiated by waving the contactless chip Card in close proximity to the point of sale system). • Match the Card number and the expiration date on the Card to the same information on the Sales Draft. • Ensure the name that prints on the Sales Draft matches the name on the front of the Card except when the Cardholder name is not captured on the Sales Draft or for prepaid Cards that do not show a name on their face. • Validate the Card's presence by taking an imprint of the Card (the imprint is for your records). Failure to validate the Card's presence by taking an imprint of the Card can render merchant liable for Chargebacks if the Cardholder disputes the Charge, except when the Cardholder name is not captured on the Sales Draft or for prepaid Cards that do not show a name on their face.