MasterCard Looks to Ban Merchant Account Cross Sales
The international credit card issuer will be fining merchant accounts up to $50,000 as it enforces rule 5.10.1 that prohibits merchants from exchanging information for the purpose of cross-sales, according to CCBill.com CEO Ron C, who announced the news via post on GFY message board.
The news that enforcement of the rule has begun was welcomed by Gunner from ATK Cash.
“I can only hope this is the first in a series of changes which will bring an end to their borderline illegal activites, thereby rectifying some of the damage they've done to quality programs,” Gunner told XBIZ. “There are people in this industry who have made deceptive billing practices their business model. I have no pity for them whatsoever.”
MasterCard’s rule 5.10.1, “sales or exchange of information,” states that “a merchant must not sell, purchase, provide, exchange or in any manner disclose card account number, transaction, or personal information of or about a Cardholder to anyone other than its acquirer, to the [MasterCard], or in response to a valid government demand. This prohibition applies to card imprints, TIDs, carbon copies, mailing lists, tapes, database files, and all other media created or obtained as a result of a transaction.”