What will happen on January 1st, 2009 that will prevent me from processing an FSA/HSA card for my customers?
Visa/Mastercard will check for an identifying number in the credit card transaction stream (VISA: “MVV” or Merchant Verification Value, Mastercard: “Assigned ID”). They will deny the transaction if that number is not recognized. Grocery stores and other merchants have been subject to this check for all of 2008. Merchants with an MCC (Merchant Category Code) of 5912 (Drug Stores/Pharmacies) or 5122 (Drug Proprietaries and Sundries) will be subject as well in 2009.
