MasterCard Extends Zero Liability to Business Credit Cards

MasterCard

Extends Zero Liability to Business Credit Cards

MasterCard International announced today that it is extending

its zero liability policy to holders of MasterCard business

credit cards. The zero liability policy, which exempts cardholders

from paying any fraudulent charges due to their cards being

lost or stolen, has existed for consumer credit cards since

1994.

According

to a company press release, the zero liability policy will go

into effect September 1st for all Mastercard business credit

card and business debit card users, as long as cardholders meet

"certain conditions including having exercised reasonable

care in safeguarding their cards and notifying their issuing

bank of the loss, theft and/or unauthorized use of their cards."

Exactly what activities encompass "reasonable care"

were not detailed, nor were any exact notification timeframes

offered.

Published 03/23/06 (Modified 05/07/12)