Visa Claims Resolution
New From Visa !
With the number of disputes rising, and processing time and costs increasing, Visa is excited to introduce the Visa Claims Resolution (VCR) initiative. To improve the efficiency of handling disputes,
Visa is focused on automating and simplifying the dispute-resolution process while also keeping pace with the needs of the payment industry. As changes are made, sharing them with you is part of our
commitment to merchants as we help your payment process run smarter and more efficiently. This document covers the major changes to dispute processing and benefits to merchants. Download the Free PDF VCR Guide Now!
New Fraud Rules/Process
Visa will apply new rules to the dispute process to target both card present, and card not present fraud. The following rules will be enforced once VCR goes live:
• Maximum Fraud per Account – Visa will place a limit (35) on the number of card-absent fraud disputes that can be processed on a single account number within a 120 day time period.
• Block Future Fraud If Account Not Closed – With VCR, it will be up to the issuer to decide if they wish to close an account once fraud is reported. However, failure to close an account prevents the issuer from initiating fraud disputes on any new transactions on that account, across all merchants.
• Bundling – If certain conditions apply, merchants may “bundle” their response where multiple transactions occurred on a single account and merchant. A single response questionnaire is used to reply to multiple disputes at once.
The Benefits – A Summary
VCR is designed to provide benefits to all stakeholders, including merchants, throughout the dispute cycle as well as through other means. The following summarizes the benefits provided to merchants with VCR:
1. Reduction in dispute volume (through system enforced rules)
2. Proactive dispute resolution
3. Identify, track and monitor abuse
4. Better customer experience VCR comprehensively evaluates Visa Net and dispute data, reducing
dispute volume by blocking invalid disputes from entering the system Through a series of new
products and services, VCR gives merchants a proactive way to resolve disputes through Visa Merchant
Purchase Inquiry Proactively identify re mediating transactions such as credits, reversals and adjustments through Associated Transactions Indices provide Visa a mechanism to proactively
identify training opportunities or abuse prompting quicker troubleshooting and resolution Quicker timelines provide a better customer experience and faster resolution.