We’re always on the lookout for changes that will impact our merchants. Visa recently announced it’s updating the guidelines for its High Brand Risk (HBR) program. The program sets the global acquiring standards for reducing exposure associated with high-risk transactions. These changes will be implemented by early next year and here are a few things you should expect:
- Visa will require high-risk merchants processing card not present transactions to be registered.
- There will be a $500 registration fee charged once the program begins along with an annual $500 renewal fee.
- Registrations will be completed by April 17, 2021 and you’ll be charged on this date even if your actual registration was earlier.
- The annual renewal feel will be charged in September of each year starting September 2022.
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: