To provide a successful chargeback representment case, Visa and other credit card companies allow (indeed, they urge) merchants to provide compelling evidence to support their case. The details on the allowed compelling evidence are included with the reason code description and details. Remember that each credit card company has its own distinct list of reason […]
On Friday, July 13th, 2012 it was announced that Visa, MasterCard, and a number of large credit card issuers had reached an out of court settlement with US merchants regarding a Class Action Lawsuit on Interchange and card rules. The settlement is complex and impacts an estimated 7 million or more merchants, not just those […]
by Linda Bustos In the noble quest to fight online fraud, online retailers are feeling the pressure from credit card companies and banks to implement 3D secure technologies – namely Verified by Visa and MasterCard SecureCode. In some countries, merchant participation is mandatory to process certain cards. Read More
Holiday Sales Will Reach Their Highest Level This Year — Are You Ready? Holiday sales are expected to reach a record high of up to $1.57 trillion in the period from November 2023 to January 2024! You can also expect more of these sales to be completed with the click of a button rather than […]
You’ve done all you can to secure the sale, the customer has received what they purchased and now your focus is growing your revenue. But what happens if there is an issue with the purchase after is complete? Verifi and Visa have been building solutions and processes to promote a balanced and equitable payment ecosystem. […]
Verifi ISSUER CDRN DATA PROCESSING AGREEMENT Updated: March 1, 2024 This CDRN Issuer Data Processing Agreement (“DPA”) is an agreement between you and the entity you represent or have the authority to bind such entity hereto (“Issuer” or “you”), on the one hand, and Verifi, Inc., a California corporation (“Verifi”), on the other hand. […]
Consumer spending patterns are predictable based on seasonality, industry, or payment type; but what a customer does after spending is unpredictable. When a consumer is dissatisfied with a product or service, how a merchant handles the post-purchase experience is critical to customer retention and dispute prevention. Merchants need to protect their business from losing revenue […]
8-Digit BINs In 2017, Visa announced it would adopt the International Organization for Standardization (ISO) eight-digit BIN, effective April 2022. With the expansion of payment methods in recent years, there has been a need to expand the number of Bank Identifying Numbers (BINs) in circulation. Between 2020 and 2022, Visa has assigned eight-digit BINs […]
Parcelado installment disputes now supported in Brazil A large percentage of transactions in Brazil and other Latin American regions are installment payments, referred to as “parcelado”. In the April 2023 release, greater support will be offered for Rapid Dispute Resolution (RDR) pre-disputes that are raised from this payment method. Visa-participating acquirers will now be able […]
Descriptor Best Practices One of the most common reasons for disputes is unrecognizable descriptors. In a recent Merchant Digest, Visa shared reminders and clarification details related to the Merchant Name and Descriptor fields. This reiteration of the correct usage of the Merchant Name / Descriptor field benefits the entire ecosystem by increasing customer recognition of […]