What Is a Credit Card Receipt? Meaning, Tips, 10 Facts

Credit card receipt is a common requirement in today’s world. Everyone uses credit cards these days and it is important to be able to identify whether or not your purchase was made by using your card.

Credit card receipt is a document which contains all the details about the transaction done with your credit card, including your name, card number, transaction date, amount and any other

What Is a Credit Card Receipt?

A credit card receipt is an acknowledgment sent to credit card holders by a vendor, merchant, or bank in exchange for a credit card payment or purchase.

A credit card receipt is often a little piece of paper that details the amount of the transaction, the date of the transaction, and the name or store number of the merchant or bank that received the payment.

What Is a Credit Card Receipt?

Typically, credit card receipts contain an itemized description of the products purchased, while some sellers provide receipts that merely display the total amount paid.

What’s the Deal with Signing Credit Card Receipts?

Why do some retailers need signatures on receipts while others do not? Well, the practice of signing paper (and even digital) receipts exists for purposes of verification — retailers are expected to verify the signature on the back of a customer’s credit card with the one on the receipt, since a discrepancy might suggest possible fraud.

Even more significant for merchants, the fact that they have your signature demonstrates that they took reasonable measures to authenticate your identity, therefore protecting them against chargebacks.

However, you may have seen that retailers frequently do not demand a signature for low-priced sales. This is likely due to the fact that these businesses are already protected against chargeback risk by subscription-based payment processing services.

Or they simply choose to absorb the expense rather than get and store signed receipts. For example, Starbucks does not demand a signature for the purchase of coffee.

What Information Does a Credit Card Receipt Include?

There is more more on a credit card receipt than simply your name and signature. They also communicate several other essential bits of information.

Your Shortened Credit Card Number

This number, which is also known as your PAN (primary account number), must be shortened in compliance with the Fair and Accurate Credit Transactions Act, which aims to preserve consumer privacy. Although your card’s expiration date and CVV cannot be shown, these details may be included on handwritten or imprinted receipts.

Merchant Information

On a receipt, your store’s name, address, and merchant location ID number must appear.

Authorization Code

The card issuer will provide an authorisation code for each transaction, which must be clearly shown on the receipt.

Transaction Information

Additionally, the date, time, and amount of a transaction must be provided.

Should You Keep Your Receipts?

Below, we detail the numerous sorts of receipts that consumers and small business owners are required to preserve, as well as the length of time for which they should be kept.

What Is a Credit Card Receipt?


You should save all of your receipts for five years after the purchase date, since this will protect you in the case of an IRS audit. In this situation, simply displaying your credit card statements would not sufficient.

There are a few other reasons to keep your receipts:

Returning or Exchanging Items: While larger businesses may be able to check up prior transactions in their own payment systems if you supply the card used to complete the transaction, many merchants will only accept returns or exchanges if the original receipt is presented.

Generally speaking, a receipt is required to file a warranty claim on a covered product, such as electronics. In addition, card networks demand receipts for extended warranty programs.

Using Price Protection Programs: If you have a credit card that offers price protection, you will need the original purchase receipt in order to receive a refund for a reduced price.

Examining Monthly Charges on Statements: Receipts allow you to cross-reference transactions to the penny, which is significant since merchants occasionally enter incorrect dollar amounts or overcharge consumers.


Keep signed receipts for at least 18 months to defend against chargebacks. Customers have up to 540 days after the purchase to contest charges.

Consequently, payment processing services such as VEPS (Visa Easy Payment Service) and QPS (Quick Payment Service) safeguard businesses against chargebacks on minor transactions — generally those under $50. There is no need to archive receipts for minor transactions if your shop participates in these programs.

Why were customer signatures required?

Credit card firms have relied on receipt signatures for decades to avoid fraud. They required businesses to collect and keep client signatures so that, in the event of a transaction dispute, the retailer could show a signed receipt demonstrating the consumer was physically there and personally authorized the purchase.

Without this evidence, retailers were liable for chargeback-related damages. If the signature on the receipt did not match the signature on file or on the card, they were also responsible. Chip readers have replaced client signatures due to the development of EMV-compliant card readers.

Tips for Avoiding Receipt Mistakes

As with any part of personal money, there are mistakes that may be made when it comes to processing receipts, and many individuals will undoubtedly commit them. The following advice may hopefully assist you in avoiding the most common mistakes.

Make Sure Your Bill & Receipt Match at Restaurants

Frequently, staff enter transaction and payment data manually, leaving possibility for mistake (especially with split bills). While your check may properly reflect the entire amount, the amount actually charged (as printed on your receipt) may differ.

What Is a Credit Card Receipt?

Avoid Old-School Imprinting Machines

Some small businesses still utilize obsolete imprinting machines and carbon paper to record credit card transactions. All of your card information is duplicated and saved, as opposed to only the last four digits of your primary account number

Rip Up Unwanted Receipts

When you no longer need a receipt, you should shred it or rip it up before throwing it away. This will make it more difficult for dumpster divers to steal your identity.

Verify & Keep Gift Card Receipts

Verify that a gift card has been correctly activated when purchasing one by examining the transaction amount on the receipt. If your gift card is destroyed, left blank, or stolen, having the receipt on hand will also assist you reclaim any remaining amount.

Check Digital Receipts

Some establishments provide the option to get a receipt through email, which can be useful for tech-savvy customers. If you choose this option, verify that you received the email. We recommend checking your email at the moment of sale if you have a smartphone.

Don’t Leave “Tip” Blank

Always complete the tip section on a receipt. If a receipt has a section for gratuity, you should always fill it out. When gratuities are not suitable, put “0.00” or cross it out. This prevents unauthorized tips from being added by others.

Take the Customer Copy

Take the customer copy when you leave a business or restaurant, even if you don’t intend to retain it (though we recommend doing so).

What Is a Credit Card Receipt?

Since store and customer copies include identical information, unethical merchants might theoretically fill in the tip box on the customer copy and charge you the inflated amount.

Can someone get a credit card number from a store receipt?

No, there is no legal method to obtain a credit card number from a retail receipt. Under the Fair and Accurate Credit Transactions Act, electronic receipts must never disclose sensitive card information.

File a complaint with the Federal Trade Commission if you get an electronic receipt that displays your whole credit card number, expiration date, or Card Verification Value number.

However, handwritten or printed receipts may reveal critical credit card information. If you find a retailer that still issues physical receipts, you should pay in cash to protect yourself.

How to keep credit card information safe

Even though the four largest credit card issuers no longer need cardholders to sign the back of their cards, you and your customers may desire to take further safeguards to maintain account security, as EMV-compliant systems are typically viewed as secure. Here are some everyday recommendations for cardholders:

  • Don’t let others use your credit card. Add an authorized user to your credit card account if you want someone to be able to make purchases on your behalf. This assures that there are no holdups at the firm, where workers can readily verify the identification of the cardholder.
  • Don’t leave your card unattended. A lost or stolen card can be used anywhere, causing retailers and customers inconvenience.
  • Monitor your online accounts. Notify the merchant, your credit card provider, or your bank of any suspicious charges.

How can I check my credit card purchases?

Either online or through the credit card company’s mobile application is the simplest way to monitor your credit card purchases.

Either of these techniques will allow you to view the most recent information on purchases made with your credit card, including pending charges. Alternately, you may view your purchases on your credit card statement each month.

Should your business stop asking customers to sign credit card receipts?

Some businesses continue to gather client signatures on debit and credit card transactions, despite the fact that significant retailers abandoned signature requirements for credit cards following announcements from card companies.

Before deciding which option makes the most sense for your organization, examine the following criteria.

1. Is your business EMV compliant?

If you have not yet upgraded to EMV-compliant credit card readers, you cannot bypass signature verification for Visa and Discover transactions.

Visa says that 75 percent of U.S. shops have adopted EMV technology as of March 2019. This leaves 25% who have not yet upgraded their systems. Contact your credit card processor about upgrading your card reader if you have not yet adopted EMV technology. In addition to allowing you to cease collecting signatures on receipts, it substantially reduces your risk of credit card fraud at the time of sale.

EMV technology has been effective against fraud despite the absence of a signature requirement during the past year. Visa says that counterfeit fraud at EMV-compliant shops has decreased by 76% from September 2015, as of September 2018. EMV has gained traction among retailers and customers. Currently, EMV accounts for 86,1% of retail transactions.

2. Does your POS system allow you to eliminate signature authorization for credit card transactions?

If you already have an EMV-compliant credit card terminal or card reader, contact your POS system supplier to determine whether the software has been updated to eliminate this step from the checkout process.

Numerous POS suppliers have modified their systems to allow businesses to decide whether or not to continue needing consumers to sign for sales. Some, such as Square, provide various alternatives for receipt signatures. You have the option of always requiring receipt signatures, never requiring receipt signatures, or only requiring receipt signatures for transactions exceeding $25.

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3. Does your business use signatures for proof of approval?

If your company needs receipt signatures for further purposes, such as authorizing a work order, accepting finished work, or agreeing to a sales policy (such as “all purchases are final”), you may need to continue collecting signatures.

Lisa Coyle, writing for 360 Payments, states, “Even if you opt to remove signature requirements from your EMV credit card receipts, you may find it advantageous to include them in your contract or work order. Signatures are useful for a great deal more than approving credit card transactions.”

Additionally, restaurants will likely continue to need receipt signatures to encourage tipping. If, for example, your business is a sit-down restaurant that does not provide a pay-at-the-table option that allows customers to add a tip before paying with a credit card, it is generally not a good idea to eliminate receipt signatures.

What Is a Credit Card Receipt?

Before charging a customer’s credit card, it is less embarrassing to have them sign paper receipts with tip suggestions than to ask them how much they wish to tip.

4. Are you nervous about chargebacks or credit card fraud?

All merchants may fear chargebacks and payment card fraud. Those that have deployed EMV-compliant systems ought to be far less concerned. In 2015, when EMV-compliant technology was first introduced, skeptics feared that the chip-and-signature approach was less secure than chip-and-PIN.

In contrast to magnetic-stripe cards, which debuted in the 1960s and are on the verge of obsolescence today, it is practically difficult to replicate chip cards. This decreases credit card fraud and boosts card legitimacy. As a result of EMV’s enhanced anti-fraud technology and better security, merchant liability for chargebacks is reduced.


A credit card receipt is a printout or email that details the transaction’s components. Vendors, shops, and merchants are permitted to offer consumers with credit card receipts, which serve as proof of payment for products and services. The POS system of the vendor creates and prints a receipt for the payer.

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