New U.S. Executive Order for Russian-Issued Cards
As your merchant advocate, we want to take just a moment of your time to let you know about a recent United States Executive Order impacting all U.S. processors. It may have an impact on your business, especially if a high percentage of your clientele uses internationally-issued payment cards.On March 20, 2014, the President signed Executive Order 13662 (an expansion of 13660 and 13661), titled, “Blocking Property of Additional Persons Contributing to the Situation in Ukraine.” While the details are lengthy and complex, what we’d like our merchant customers to know is that all U.S. processors now have new orders on how to handle transaction requests on payment cards issued by certain banks in Russia.
What does this mean for you?
Essentially, you may receive declines when trying to authorize certain payment cards issued from the flagged Russian banks. If this occurs, just request another form of payment from the customer. Your clerks will not be made aware of why the card is declined and likely will not be prompted to call for a voice authorization.
We just wanted to give you a heads-up as to why you are possibly seeing an increase in declines, especially if your business processes foreign payment cards. This Executive Order is completely out of our control, as it was issued and is enforced by the U.S. government.
Please contact your merchant services provider (MSP) if you would like more information.