The newly-named Visa Dispute Monitoring Program (VDMP) takes effect October 1st, along with stricter thresholds for allowable disputes.
Updated Visa Dispute Rules Start Oct 1st
Category: Visa
Breaking down the latest from Visa and Mastercard
Cathy’s latest XBIZ.com piece, Major Card Brands Roll Out New Changes, focuses on recent updates from Visa and Mastercard aimed at reducing chargebacks, while highlighting advances in the anti-chargeback tools at our disposal, including 3-D Secure 2.0 and Visa’s Merchant Purchase Inquiry program.
While rules are getting stricter, the tools we can use to fight chargebacks are stronger than ever…. (Visa) will allow processors supporting VMPI to respond to a bank inquiry almost immediately, ensuring it does not become a chargeback.
Visa Announces Lower Chargeback Thresholds
Visa has announced stricter chargeback rules affecting its dispute monitoring programs for both merchants and acquiring banks.
Continue reading “Visa Announces Lower Chargeback Thresholds”
New Visa Claims Resolution Aims to Resolve Disputes Faster
As of April 15, 2018, Visa Claims Resolution (VCR) was introduced with enhanced dispute rules and a new workflow and process. VCR is intended to decrease the time needed to resolve claims, and offers the following benefits to acquirers, merchants, and issuers:
Continue reading “New Visa Claims Resolution Aims to Resolve Disputes Faster”
Card Association News
Part of our job at SegPay is to make sure merchants are up to date on the latest news and rules changes from Visa and Mastercard. The card brands are also making a concerted effort to improve their communication to all members of their value chain by publishing news and articles on a regular basis. We recommend bookmarking their sites to make sure you never miss an update:
Don’t hesitate to contact us if you ever need help or clarification with any Visa or MasterCard rules or requirements.