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New Terminal Compliance with Visa/Mastercard?

 
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kumafa
New Merchant


Joined: 21 Feb 2009
Posts: 1
Location: California

PostPosted: Sat Feb 21, 2009 10:46 pm    Post subject: New Terminal Compliance with Visa/Mastercard? Reply with quote

Hi,

We are a small business in CA and have a Hypercom T7P-T terminal. Recently we've heard from our merchant service that a terminal compliance issue is going into effect from Visa/Mastercard and all of a sudden, our terminal is outdated and needs to be updated. The 'only' way to update is by signing a terminal lease from them. It just sounds fishy!

I just want to confirm with any experts here if there is a new terminal compliance measure that is going into effect soon? Also, we can't just download/re-program our current terminal, instead of getting a new one? Thanks!
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stymiee
Site Administrator


Joined: 08 Jan 2021
Posts: 99

PostPosted: Fri Feb 27, 2009 6:43 pm    Post subject: Reply with quote

Sounds fishy to me, too. I'd ignore them and wait until you get an official notification on your processing statement before doing anything about it.
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nelsonkist
New Merchant


Joined: 14 Dec 2009
Posts: 17

PostPosted: Tue Dec 15, 2009 5:44 am    Post subject: Reply with quote

You get an official notification on your processing statement before doing anything about it.I would like to make it clear that not all processors are charging their merchants for PCI.
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sunny34
New Merchant


Joined: 21 May 2010
Posts: 1

PostPosted: Fri May 21, 2010 3:32 am    Post subject: http://www.creditcardbest.net Reply with quote

Thanks for the wonderful discussion.I am also running a small scale business and sure this kind of informative topic provides a big help to us.
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tyefighter
New Merchant


Joined: 25 May 2010
Posts: 2

PostPosted: Tue May 25, 2010 10:08 am    Post subject: Reply with quote

Yes your terminal could be out of compliance if it is an older machine. Do NOT lease a terminal, buy one instead. Terminals only cost between $150 and $350 and most companies will let you pay it off your processing. If you lease a terminal it could cost you well into the $1500 to $2500 range after your lease is over. Never ever sign a lease for equipment.
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