Return and Credit Policy Disclosure for Card-Present Merchants

For card-present transactions, the policy disclosure should occur before the sale is completed. The following (or similar) statements should be printed on thetransaction receipt near the signature field.

Disclosure Statement


No Refunds or Returns or Exchanges The merchant does not accept returned merchandise and does not issue refunds or merchandise exchanges.
Exchange Only The merchant agrees to exchange returned merchandise for similar merchandise that is equal in price to the original item.
In-Store Credit Only The merchant accepts returned merchandise and provides the customer with an in-store credit for the value of the returned item.
Special Circumstances The merchant and the customer have agreed to special terms (for example late delivery fees or restocking charges). Any special terms must be written on the sales receipt or invoice). The customer’s signature on the receipt or invoice proves acceptance of the agreed-upon special terms.
Timeshare The merchant is required to provide a full refund when a sales receipt has been processed and the customer has cancelled the transaction within 10 calendar days of the transaction date.

Return and Credit Policy Disclosure for Card-Absent Merchants

  • Mail order and telephone order (MO / TO). For the disclosure to be compliant with industry rules, your return and refund policies may be mailed, e-mailed, or faxed to the customer. To complete the sale, the customer should sign and return the disclosure statement to you.
  • E-commerce. If you accept credit cards online, your website must communicate your return and refund policy to your customers and require them to acknowledge acceptance by clicking on an “Agree” or a similar affirmative button. The terms and conditions of the sale must be displayed on the same checkout screen that shows the total transaction amount or on one of the website pages the customer accesses during the checkout process.
  • Additionally, e-commerce merchants are required to make their credit and return policy available to all visitors through a link that is typically placed within the website’s header or footer, which makes it accessible from all pages.