Here are some upcoming Visa changes and dates that we'd like to share with our customers and partners.
Updated Policy for Subscription Merchants offering Free Trials or Introductory Promotions
To enable greater customer transparency and control, easier cancellations and clearer dispute rights, Visa is updating its rules related to transactions at merchants that offer free trials or introductory offers as part of an ongoing subscription service.
This will be effective from 18 April 2020.
Read the full Visa update here.
Visa Chargeback Monitoring Program Renamed as Visa Dispute Monitoring Program
The Visa Chargeback Monitoring program will be renamed as the Visa Dispute Monitoring Program. Visa is also reminding clients of upcoming changes to fraud and dispute thresholds.
In April 2018, Visa replaced the term ‘chargeback’ with ‘dispute’. As such, the Visa Rules have been modified to reflect the new term. To comply with the new naming convention, as of 1 October 2019, the visa chargeback Monitoring Program (VCMP) will be renamed as the Visa Dispute Monitoring Program (VDMP).
This will be effective from 1 October 2019.
Read the full Visa update here.
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