Maestro Global Rules (PDF) - MasterCard

United States Region
10.2 Settlement
10.2 Settlement
Issuers that have been designated by the Corporation as having substandard
performance may be subject to noncompliance assessments.
In addition to the Rules in Chapter 10, “Settlement and Reconciliation,” Rule
10.2 in part 1 of this rulebook, the following applies:
The Interchange System only provides Settlement/reconciliation services to
Principals, Acquiring Customers and/or their processors.
Principals are responsible for Settlement with their Sponsored Customers, and
Merchants.
10.2.3 Settlement Currency
10.3 Reconciliation
All Transactions must be settled in U.S. currency; internationally acquired
Transactions will be converted to U.S. currency at exchange rates determined
by the Corporation.
In addition to the Rules in Chapter 10, “Settlement and Reconciliation,” Rule
10.3 in part 1 of this rulebook, the following applies:
Principals are responsible for reconciliation with their Sponsored Customers,
and Merchants.
13.8 Pre-authorized Transactions
The following replaces Chapter 13, “Liabilities and Indemnification,” paragraph
1 of Rule 13.8 in part 1 of this rulebook:
An Issuer is liable for any Transaction, for which the Acquirer obtained a
pre-authorization, and, which the Acquirer stored and forwarded to the Issuer
within twenty (20) minutes of the pre-authorization.
13.10 Manually-entered PAN
In addition to the Rules in Chapter 13 “Liabilities and Indemnification,” in part 1
of this rulebook, the following applies:
An Issuer is not liable to the Acquirer for Transactions completed at a Merchant
through manual entry of a PAN that is accepted by the Issuer and subsequently
determined to have been generated through use of a fraudulent Card and/or
unauthorized use of a PIN.
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20-30 9 November 2012 • Maestro Global Rules