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.
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Published (Modified )