What is PAN Truncation?
Primary Account Number (PAN) Truncation is a simple and effective way of disguising cardholder account numbers on transaction receipts and is only applicable with a thermal printer. Each customer’s card account details are replaced by a set of asterisks (****) followed by the last few digits of the account number on their copy of the receipt. This keeps their account details secret and stops fraudsters who could otherwise steal and use the information. (You will retain the account number in full on your merchant copy of the receipt should any queries arise). It is highly recommended by all card schemes that merchants should have this fraud prevention measure. All handepay’s electronic payment solutions are equipped with this security measure besides Address Verification Service (AVS), Card Security Code (CSC) checking, chip and PIN and thermal printers.
Primary Account Number (PAN) Truncation, is a simple and effective way of disguising cardholder account numbers on transaction receipts. Each customers card account details are replaced by a set of asterisks (****) on their copy of the receipt. This keeps their account details secret and stops fraudsters who could otherwise steal and use the information. (You will retain the account number in full on your merchant copy of the receipt should any queries arise). It is highly recommended by all card schemes that merchants should have this fraud prevention measure.
Primary Account Number (PAN) Truncation, is a simple and effective way of disguising cardholder account numbers on transaction receipts. How does it work? A software update to your terminal is all it takes to enable each customers card account details to be replaced by a set of asterisks (****) on their copy of the receipt. This keeps their account details secret and stops fraudsters who could otherwise steal and use the information. (You will retain the account number in full on your merchant copy of the receipt should any queries arise). What do I need to do? If you rent your terminal from Streamline you will already have this functionality. Further information can be found in Section 14 of your Merchant Operating Instructions. If you own your own POS terminal and you do not already have this functionality you must arrange for your equipment to be urgently upgraded. Visa and MasterCard mandatory implementation dates have already passed You will need to contact your terminal supplier
Primary Account Number (PAN) truncation is a security measure used at point-of-sale (POS) terminals to guard against fraud. When a customer pays for goods or services with a credit or debit card, the card’s numbers are truncated on the sales receipt with the missing digits replaced by wild cards such as asterisks. In some cases only the last four numbers are revealed, but a minimum of four digits must be replaced to comply with the regulation. PAN truncation allows the customer to identify which card he or she used while protecting the account. Paper receipts that are carelessly thrown away, lost or stolen, previously provided thieves with everything they needed to commit identity theft or fraud. Stealing a credit or debit card number not only allows bilking of the account, but can also lead to opening new lines of credit, unbeknownst to the victim. By the time the victim learns of the new credit lines, the thief has vanished, leaving financial ruin in his or her wake. The MasterCard™
