Visa Eases up on Triple DES Deadline in Face of ‘Migration Challenges’

(May 28, 2010) Visa Inc. has “relaxed enforcement” of the July 1, 2010, deadline for petroleum retailers to install software that meets the so-called Triple Data Encryption Standard (also called 3DES or TDES) in response to requests from the major oil companies, including ExxonMobil, the card network said in a statement released this week. While the July 1 deadline remains in effect, “Visa will provide some flexibility regarding non-compliance fines for certain acceptance segments, but will continue to encourage full compliance as quickly as possible by working closely with acquirers in managing the TDES migration plans,” Visa said in the statement. Continue Reading