The Mastercard Unique Terminal ID mandate is another attempt to stem and more quickly identify fraud at merchants using integrated retail point of sale solutions. This mandate was announced back in 2013, and requires unique terminal identifiers for each independent card reading device at a single location, not to be confused with the acquiring TID.
Effective January 1, 2017, merchants who do not adhere to the MasterCard Unique Terminal ID mandate will fall into a status of noncompliance. Fines for non-compliance go into effect December 31, 2017. Multiple card-reading devices, such as PIN pads and terminals, connected to a single host terminal are each required to have a Unique Device ID to remain compliant and avoid potential fines from Mastercard.
MasterCard Fines will be assessed for each transaction that violates this mandate.
If you do not regularly update your POS software, as is also required for PCI Compliance, you’re probably not compliant. with MasterCard and may be fined. Action: contact your POS provider for further information. Read your merchant statement messages for these and other critical alerts.
I just received email saying I qualified for the Chip-enabled point of sale system terminal rebate program. With the April 30 deadline approaching, American Express is being proactive. I don’t actually qualify because I don’t have a retail store. If I tried to collect later, it would be denied because they verify the type of merchant account you have, and mine is ecommerce.
EMV chip smart card.
Check out our Chip-enabled point of sale terminal buyers guide.
The Hypercom T7Plus is a diehard credit card terminal. With supplies nearly gone, prices are discounted heavily. Now priced at $69 with a new merchant account, as long as supplies last. It’s probably one of the most popular terminals ever made because of it’s reliability.
Price is for the newer 1 MB model shown on far right.
Is this the right terminal for you? Choose if this is your situation:
- Small business with retail swipe transactions
- You need a solution to hold you over for less than 3 years
- You’re cash short and just need something
- You want a back up for other units you already have
Do not choose if this is your situation:
- Key enter transactions only (Choose one of our computer based virtual terminals instead, and never pay for hardware again.)
- Process more than $50,000/mth. (Call for one of our solutions that provides more merchant value- protecting against internal and external fraud, reduces credit card processing costs with any processor automatically etc)
This item is not for sale with your existing merchant account. Other terminals are available to use with your existing merchant account. Call for advice.
Read about the Hypercom T7Plus end of life.