Visa has announced stricter chargeback rules affecting its dispute monitoring programs for both merchants and acquiring banks.
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:
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.