March 06, 2003
According to the Washington Post, Visa receipts will soon show a lot less credit card information. Receipts will no longer show expiration dates and the card number will be limited to the last 4 digits.
All this to help curtail identity theft. I'd love to see Visa's analysis of how many identity thieves use the information from receipts to obtain credit card numbers and how this effort helps.
From a marketing and PR standpoint, it's certainly a good move - I wonder if Visa's lawyers determined the card numbers and expiration dates on receipts represent a liability risk?
Many point of sale (POS) terminals will have to be updated to comply with the new policy. Verifone, Trintech, and Hypercom should see some nice bumps in spending.