Mastercard revised standards for Credential On File support in Hungary

On July 15, 2022, Mastercard revised their standards for processing Credential On File (COF) transactions in Hungary.

If you store cardholders’ credentials for ease of checkout, you must make sure that the appropriate stored credential identifiers are sent in the transaction message. You also must capture your customers’ consent to store their credentials whilst following the data storage requirements.

What do you need to do to prepare for this mandate?

The revision to the COF rules in Hungary mean that you must:

• Collect the initial mandate from the cardholder that authorizes you to save their credentials. This can happen at the same time as the transaction or separately from it

• Save the payment credentials (excluding CVC2, which must not be stored)

• Identify the transaction as a COF payment by sending the correct stored credential identifiers

• Delete or update credentials that were previously entered by the cardholder

If you do not meet these requirements, Mastercard will start assessing compliance fines from January 1, 2023.