Mastercard has delayed its planned changes to Final Authorization Submission rules in the Europe region until May 22, 2024.
From the new date, the clearing record for each transaction authorized as a final authorization must be submitted within three calendar days of the authorization approval date.
Mastercard has delayed its planned changes to Final Authorization Submission rules in the Europe region until May 22, 2024.
If you were impacted, you will have received an email from us on March 28, 2023, regarding Mastercard making some changes to the rules for Final Authorization Submission in the Europe region*.
These changes have now been delayed by one year and will not be in force until May 22, 2024.
From the new date of May 22, 2024, the clearing record for each transaction authorized as a final authorization must be submitted within three calendar days of the authorization approval date. This has been reduced from seven calendar days.
This applies to all final ecommerce and Point Of Sale (POS) Mastercard or Maestro-branded authorization transactions and for all product categories (consumer debit, consumer prepaid, consumer credit, and business). If you do not submit the clearing record within three calendar days, you may be issued scheme assessments (fees) from Mastercard.
Mastercard is making these improvements to accelerate the processing of clearing data; allowing data to be processed and shared faster, enabling consumers to view their transactions faster and making funds available to you as a merchant quicker.
Please refer back to our previous email for information on what actions you may need to take and the scheme fees that will apply for transactions captured outside of the new clearing times.
*Excluding: Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russian Federation, Tajikistan, Turkey, Turkmenistan, Ukraine and Uzbekistan.
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