MasterCard has revised its Standards to allow for collection agents to accept signature debit cards in the US. This revision is effective immediately and will be reflected in upcoming versions of MasterCard Rules.
This change does not affect MasterCard’s credit transaction rules, and those transactions will remain prohibited as satisfactory payment for uncollectable obligations. The change is strictly effective in the United States, and additionally does not affect MasterCard’s Payday Lending Standards.
The adjustment will have an effect on collections agencies because it allows them to change the way in which customers provide payment. The modification also has the potential to heighten the scope of PCI assessments and requirements within the collections realm. A-LIGN can assist your organization with your PCI compliance through security consulting related to PCI DSS, conducting gap assessments, validating compliance through a Report on Compliance or Self-Assessment, and penetration testing.