Visa, MasterCard Debit Card Labeling Requirement

Constantine Cannon, lead counsel for United States merchants in the Visa Check/MasterMoney Antitrust Litigation, CV 96-5238, has issued a press release reminding merchants of their rights under the settlement - including noting that one requirement was that all Visa and MasterCard debit cards be reissued by January 1, 2007, to clearly add "Debit" on their face - and telling merchants to contact Constantine Cannon "if you find that cards are being presented for payment that may be Visa and MasterCard signature debit cards lacking proper visual and/or electronic identification" or if they "encounter any problems obtaining BINs from your processor."