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Visa International Operating Regulations
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Contents
Contents ....................................................................................................................................... iii
Summary of Changes.................................................................................................................... 1
Quick Reference.......................................................................................................................... 1
Overview................................................................................................................................... 1
Summary of Changes.................................................................................................................. 5
Major Topics............................................................................................................................ 5
Miscellaneous Topics............................................................................................................... 16
AP Region Major Topics.......................................................................................................... 25
LAC Region Major Topics....................................................................................................... 28
U.S. Region Major Topics....................................................................................................... 29
Other Revisions........................................................................................................................ 31
About the Operating Regulations................................................................................................ 33
General Overview........................................................................................................................ 33
What are Operating Regulations?........................................................................................... 33
What Do Operating Regulations Include?............................................................................... 34
Organization................................................................................................................................. 34
Operating Regulations Structure............................................................................................. 34
Authoring Style............................................................................................................................. 36
General Authoring Conventions............................................................................................... 36
Contents Numbering.................................................................................................................... 37
Section Numbering................................................................................................................... 37
Chapter 1: Visa Operating Regulations Governance................................................................. 39
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Core Principle 1.1........................................................................................................................ 39
The Operating Regulations...................................................................................................... 39
Core Principle 1.2........................................................................................................................ 39
Visa Management.................................................................................................................... 39
Core Principle 1.3........................................................................................................................ 39
Compliance............................................................................................................................... 39
Core Principle 1.4........................................................................................................................ 40
Consistency.............................................................................................................................. 40
Core Principle 1.5........................................................................................................................ 40
Conflicts.................................................................................................................................... 40
Core Principle 1.6........................................................................................................................ 40
Variances and Waivers............................................................................................................ 40
Use and Application of Bylaws and Operating Regulations........................................................ 41
Obligation to Comply with Bylaws and Visa International Operating Regulations................... 41
Use and Application of Operating Regulations........................................................................ 41
Obligation to Comply with Operating Regulations................................................................... 43
Local, Domestic, and Regional Operating Regulations and Private Agreements........................ 44
Regional Operating Regulations.............................................................................................. 44
National, Group Members, and Private Agreements............................................................... 44
Extensions to the Operating Regulations.................................................................................... 45
Publications with Equivalent Authority..................................................................................... 45
Variances or Waivers to the Operating Regulations................................................................... 45
Variances or Waivers - Procedures......................................................................................... 45
Confidentiality of Visa Materials.................................................................................................. 47
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Confidentiality Requirements................................................................................................... 47
Visa Right to Monitor, Audit, Inspect, or Investigate................................................................... 48
Visa Right to Monitor, Audit, Inspect, or Investigate............................................................... 48
Member Rights and Obligations.............................................................................................. 50
General Investigation Responsibilities..................................................................................... 50
Merchant Investigation Responsibilities................................................................................... 53
Operating Regulations Compliance and Enforcement................................................................ 53
Fines and Penalties - General................................................................................................. 53
Fines and Penalties Process................................................................................................... 54
Fines and Penalties for Repetitive and Willful Violation.......................................................... 56
Compliance - General.............................................................................................................. 57
Compliance Enforcement Appeals........................................................................................... 57
Right of Termination of Merchant or Agents............................................................................... 57
Visa Rights............................................................................................................................... 57
Member Obligations................................................................................................................. 59
Chapter 2: Visa System Participation......................................................................................... 61
Core Principle 2.1........................................................................................................................ 61
Bylaws and Operating Regulations......................................................................................... 61
Core Principle 2.2........................................................................................................................ 61
Third Party Registration........................................................................................................... 61
Core Principle 2.3........................................................................................................................ 62
Liabilities and Indemnifications................................................................................................ 62
Membership.................................................................................................................................. 62
General Membership................................................................................................................ 62
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Sponsored Member.................................................................................................................. 63
Member Acquisition.................................................................................................................. 63
Quarterly Operating Certificate................................................................................................ 65
Online Submission and Electronic Signature.......................................................................... 67
Acquirer Licensing.................................................................................................................... 68
Agents - Third Party and VisaNet Processors............................................................................ 68
General Agent Requirements.................................................................................................. 68
VisaNet Processor Requirements............................................................................................ 71
Third Party/ISO Requirements................................................................................................. 75
Card Manufacturers and Personalizers................................................................................... 84
Fines Related to Agents.......................................................................................................... 85
Liabilities and Indemnifications.................................................................................................... 86
Members and Agents............................................................................................................... 86
Visa Systems........................................................................................................................... 86
Visa Programs and Products................................................................................................... 87
Chapter 3: The Visa License........................................................................................................ 89
Core Principle 3.1........................................................................................................................ 89
Intellectual Property................................................................................................................. 89
Core Principle 3.2........................................................................................................................ 89
Brand and Licensed Technology............................................................................................. 89
Core Principle 3.3........................................................................................................................ 90
BIN Licensing........................................................................................................................... 90
Marks License.............................................................................................................................. 90
Marks License Grant................................................................................................................ 90
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Sponsorships/Partnerships Including Olympics....................................................................... 92
BIN License and Administration.................................................................................................. 94
License..................................................................................................................................... 94
Administration........................................................................................................................... 95
Sales and Transfers................................................................................................................. 99
Mergers and Acquisitions........................................................................................................ 100
Membership Status.................................................................................................................. 100
BIN Licensee................................................................................................................................ 101
Responsibilities......................................................................................................................... 101
BIN Use........................................................................................................................................ 102
Member Use............................................................................................................................ 102
Merchant Use and Disclosure of BIN Information................................................................... 103
Non-Visa BINs............................................................................................................................. 107
Non-Visa-Assigned BINs.......................................................................................................... 107
Software License......................................................................................................................... 108
Ownership and Confidentiality................................................................................................. 108
Non-Transferability................................................................................................................... 108
Limitations................................................................................................................................ 109
Software Enhancements/Modifications........................................................................................ 109
Enhancements/Modifications.................................................................................................... 109
Use of Visa Systems................................................................................................................... 110
Visa Systems Use.................................................................................................................... 110
Visa U.S. Regulation II Certification Program............................................................................. 114
Visa U.S. Regulation II Certification Program - AP Region, LAC Region, and U.S. Region.... 114
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Chapter 4: The Visa Brand........................................................................................................... 115
Core Principle 4.1........................................................................................................................ 115
Brand Prominence................................................................................................................... 115
Core Principle 4.2........................................................................................................................ 115
Communications....................................................................................................................... 115
Core Principle 4.3........................................................................................................................ 115
Visa-Owned Mark on a Payment Device................................................................................ 115
Core Principle 4.4........................................................................................................................ 116
Corporate Names..................................................................................................................... 116
Core Principle 4.5........................................................................................................................ 116
Denote and Promote Visa....................................................................................................... 116
Core Principle 4.6........................................................................................................................ 116
Card Acceptance Outside of Country of Issuance.................................................................. 116
Core Principle 4.7........................................................................................................................ 117
Card Acceptance at Point-of-Sale........................................................................................... 117
Marks............................................................................................................................................ 117
General Use of Marks............................................................................................................. 117
Use of Product Marks.............................................................................................................. 124
Corporate Identity........................................................................................................................ 125
Use of Brand in Corporate Identity.......................................................................................... 125
Use of Marks on Cards............................................................................................................... 127
Marks Usage Requirements.................................................................................................... 127
Multiple Marks on Card........................................................................................................... 127
Competitive Marks................................................................................................................... 129
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General Card Design............................................................................................................... 131
Member Identification................................................................................................................... 132
Member Identification on Card................................................................................................ 132
Affinity/Co-Branded Card Programs............................................................................................ 134
Non-Member Marks on Cards................................................................................................. 134
Global Co-Branded Card Program Requirements................................................................... 139
Affinity/Co-Branded Card Program Requirements................................................................... 140
Brand Positioning......................................................................................................................... 154
Card and Product Positioning.................................................................................................. 154
Use of Marks in Promotions, Advertisements, and Solicitations................................................. 156
Solicitations.............................................................................................................................. 156
Promotional Material................................................................................................................ 157
Member Sponsorships................................................................................................................. 160
Sponsorships Usage Requirements........................................................................................ 160
Electron Mark/Identifier................................................................................................................ 162
Electron Marks Usage Requirements...................................................................................... 162
Interlink Program Marks.............................................................................................................. 163
Interlink Program Marks Usage Requirements........................................................................ 163
Plus Program Marks.................................................................................................................... 164
Plus Program Marks Usage Requirements............................................................................. 164
Chapter 5: Visa Products and Services...................................................................................... 167
Core Principle 5.1........................................................................................................................ 167
Issuing and Technology Standards......................................................................................... 167
Core Principle 5.2........................................................................................................................ 167
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Issuing and Using Visa Products............................................................................................ 167
Core Principle 5.3........................................................................................................................ 168
Card Design Requirements and Standards............................................................................. 168
Card Issuance.............................................................................................................................. 168
Issuer Responsibilities - General............................................................................................. 168
Account Range and BIN Use.................................................................................................. 170
Account Number Specifications............................................................................................... 171
PIN Issuance............................................................................................................................ 171
Expiration Date Standards....................................................................................................... 173
Issuer Performance Standards................................................................................................ 173
Card Manufacture and Delivery................................................................................................... 174
Card Shipping and Security..................................................................................................... 174
Card Embossing, Printing, Encoding, and Personalization..................................................... 176
Issuer Requirements - General................................................................................................... 178
Exchange Rates....................................................................................................................... 178
Cardholder Liability.................................................................................................................. 179
Provisional Credit..................................................................................................................... 181
Cardholder Applications........................................................................................................... 182
Confidentiality of Cardholder Information................................................................................ 183
Data Retention and Transmission........................................................................................... 184
Disputed Transactions - Canada Region................................................................................ 185
Cardholder Notifications........................................................................................................... 186
Insurance Program - U.S. Region........................................................................................... 189
Other Issuer Requirements...................................................................................................... 190
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Magnetic-Stripe Requirements.................................................................................................... 191
General Magnetic-Stripe Requirements................................................................................... 191
Magnetic-Stripe Encoding........................................................................................................ 191
Chip Card Requirements............................................................................................................. 192
General Chip Card Requirements........................................................................................... 192
Chip Card Technology Requirements..................................................................................... 198
Cardholder Verification Method............................................................................................... 200
Card Authentication Method.................................................................................................... 202
Cardholder Account Selection................................................................................................. 203
Chip Card Post-Issuance Updates.......................................................................................... 204
Chip Issuer Liability.................................................................................................................. 205
EMV Liability Shift.................................................................................................................... 207
Proximity/Contactless Cards.................................................................................................... 210
Mobile Payment Devices......................................................................................................... 214
Limited Use Products.................................................................................................................. 215
Restricted Use Cards............................................................................................................... 215
Non-Standard Cards.................................................................................................................... 216
Non-Standard Card General Requirements............................................................................ 216
Visa Mini Cards........................................................................................................................ 217
Visa Mini Cards - U.S. Region................................................................................................ 217
Visa Micro Tag......................................................................................................................... 218
Unembossed Cards................................................................................................................. 218
Virtual Accounts........................................................................................................................... 219
Virtual Accounts - General Requirements............................................................................... 219
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Virtual Accounts - Consumer Programs.................................................................................. 220
V.me by Visa............................................................................................................................... 220
V.me by Visa - General Requirements.................................................................................... 220
Visa Prepaid Products - Consumer and Commercial Card Requirements.................................. 221
Visa Prepaid Products - General Requirements..................................................................... 221
Consumer Products..................................................................................................................... 228
Visa Consumer Products - General Requirements................................................................. 228
Visa Classic Cards................................................................................................................... 228
Visa Charge Card.................................................................................................................... 229
Visa Traditional Rewards Cards - U.S. Region....................................................................... 230
Visa Debit Cards...................................................................................................................... 232
Visa Electron Cards................................................................................................................. 234
Visa Gold/Premier Cards......................................................................................................... 235
Visa Infinite Cards.................................................................................................................... 238
Visa Platinum Cards................................................................................................................ 246
Visa Signature Cards............................................................................................................... 255
Visa Signature Preferred Cards - U.S. Region........................................................................ 266
Visa Check Cards - U.S. Region............................................................................................. 269
Secured Cards......................................................................................................................... 272
V PAY...................................................................................................................................... 273
Campus Cards......................................................................................................................... 274
Visa Rewards Cards - AP Region and CEMEA Region.......................................................... 275
Visa Consumer Prepaid Card Requirements.......................................................................... 276
Visa Prepaid Load Service...................................................................................................... 279
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Visa Prepaid Products - Visa ReadyLink................................................................................ 280
Visa TravelMoney.................................................................................................................... 282
Original Credit Transaction.......................................................................................................... 284
Original Credit Transaction - General Requirements.............................................................. 284
Visa Money Transfer................................................................................................................... 285
Money Transfer Original Credit General Requirements....................................................... 285
Visa Commercial Products.......................................................................................................... 286
Visa Commercial Products - General Requirements............................................................... 286
Visa Meetings Card................................................................................................................. 295
Prepaid Commercial................................................................................................................. 296
Visa Agro Card - LAC Region................................................................................................. 297
Visa Cargo - LAC Region........................................................................................................ 299
Visa Commercial Business Products........................................................................................... 300
Commercial Business Products General Requirements.......................................................... 300
Visa Business Enhanced Cards.............................................................................................. 302
Visa Business Platinum Cards................................................................................................ 303
Visa Signature Business Cards............................................................................................... 303
Visa Business Check Cards.................................................................................................... 311
Visa Business Electron Cards................................................................................................. 312
Visa Business Debit................................................................................................................. 312
Visa Business Debit Cards - AP Region................................................................................. 313
Visa Infinite Business Cards - Canada Region....................................................................... 314
Visa Commercial Purchasing Products....................................................................................... 319
Purchasing Cards - General.................................................................................................... 319
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Visa Fleet Cards...................................................................................................................... 320
Visa Large Purchase Advantage U.S. Region .................................................................... 323
Visa Commercial Corporate Products......................................................................................... 325
Visa Corporate Prepaid Cards................................................................................................. 325
Visa Corporate Debit - LAC Region........................................................................................ 326
Commercial Corporate Products - U.S. Region...................................................................... 327
Visa Commercial Products Programs and Services.................................................................... 328
V Distribution Program............................................................................................................. 328
Centralized Card Issuance...................................................................................................... 329
Authorization Request and Settlement Amount Match U.S. Region.................................... 330
Global Support Services.............................................................................................................. 330
Visa Global Customer Assistance Services............................................................................ 330
Emergency Cash Disbursement and Emergency Card Replacement..................................... 335
Stand-In Processing................................................................................................................. 338
Lost or Stolen Card Reporting................................................................................................. 339
Emergency Request Fines and Penalties............................................................................... 340
Global Refund Service............................................................................................................. 340
Cardholder Loyalty Program........................................................................................................ 342
Visa Extras - U.S. Region....................................................................................................... 342
Visa Loyalty Platform Services................................................................................................ 343
Visa Incentive Network - U.S. Region..................................................................................... 343
Visa SavingsEdge - U.S. Region............................................................................................ 344
Credit Bureau Reporting - U.S. Region....................................................................................... 346
Credit Bureau Reporting Requirements - U.S. Region............................................................ 346
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Commercial Data Management and Reporting........................................................................... 348
Commercial Solutions.............................................................................................................. 348
Enhanced Data........................................................................................................................ 350
POS Balance Inquiry Service...................................................................................................... 351
POS Balance Inquiry Service Requirements........................................................................... 351
Visa POS Solutions Program - U.S. Region............................................................................... 352
Visa POS Solutions Program Requirements - U.S. Region.................................................... 352
Visa PIN Debit Gateway Service - U.S. Region.......................................................................... 353
Visa PIN Debit Gateway Service Requirements - U.S. Region............................................... 353
Plus Program............................................................................................................................... 353
Plus Program Requirements.................................................................................................... 353
Visa Global ATM Network........................................................................................................... 355
Visa Global ATM Network Requirements................................................................................ 355
ATM Operators......................................................................................................................... 356
ATM Balance Inquiry Service.................................................................................................. 360
ATM Fees................................................................................................................................ 361
Global ATM Network PIN Requirements................................................................................. 366
ATM Issuer Requirements - U.S. Region................................................................................ 367
ATM Access Fee Fines........................................................................................................... 368
Preauthorized Payment Cancellation Service............................................................................. 369
Preauthorized Payment Cancellation Service Requirements.................................................. 369
Visa Payment Controls................................................................................................................ 370
Visa Payment Controls Service Information............................................................................ 370
Visa Account Updater.................................................................................................................. 371
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Visa Account Updater Requirements...................................................................................... 371
Health Care Eligibility Service - U.S. Region.............................................................................. 372
Health Care Eligibility Service Requirements - U.S. Region................................................... 372
Visa Risk Products and Services................................................................................................ 373
Visa Advanced Authorization................................................................................................... 373
Visa Advanced ID Solutions - U.S. Region............................................................................. 374
BankruptcyPredict Service - U.S. Region................................................................................ 374
MoneyChoices - U.S. Region.................................................................................................. 377
Address Verification Service (AVS)......................................................................................... 378
Card Recovery Bulletin (CRB)................................................................................................. 379
Exception File.......................................................................................................................... 382
National Card Recovery File - U.S. Region............................................................................ 383
Account Number Verification Service...................................................................................... 383
Verified by Visa............................................................................................................................ 385
Verified by Visa Participation Requirements........................................................................... 385
Verified by Visa Non-Compliance Penalties............................................................................ 387
Cardholder Authentication........................................................................................................ 388
VisaVue Online............................................................................................................................ 390
VisaVue Online Requirements................................................................................................. 390
Visa Online................................................................................................................................... 390
Use of Visa Online................................................................................................................... 390
Visa Membership Management................................................................................................... 391
Client Portfolio Management Self-Service Tools Requirements.............................................. 391
VisaNet Gateway Services - AP Region..................................................................................... 392
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VisaNet Gateway Services Requirements - AP Region.......................................................... 392
Visa Transaction Alerts Service.................................................................................................. 392
Visa Transaction Alerts Service Requirements....................................................................... 392
Visa Chip Services...................................................................................................................... 393
Visa Chip Services Requirements........................................................................................... 393
Chapter 6: Payment Acceptance................................................................................................. 395
Core Principle 6.1........................................................................................................................ 395
Display of Marks...................................................................................................................... 395
Core Principle 6.2........................................................................................................................ 395
Honor All Cards Properly Presented....................................................................................... 395
Core Principle 6.3........................................................................................................................ 396
No Surcharging Unless Required by Law............................................................................... 396
Core Principle 6.4........................................................................................................................ 396
Merchant Qualification Standards............................................................................................ 396
Merchant Agreement................................................................................................................... 397
General Merchant Requirements............................................................................................. 397
Required Merchant Information............................................................................................... 403
Acquirer's Jurisdiction.............................................................................................................. 405
Payment Service Providers and Sponsored Merchants.......................................................... 407
International Airline Program................................................................................................... 408
Acquirer Due Diligence............................................................................................................ 409
Electronic Commerce Acquirer Agreement............................................................................. 410
Point-of-Transaction - Display of Marks...................................................................................... 410
Display of Marks at the Point of Sale...................................................................................... 410
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Display of Marks at an ATM.................................................................................................... 414
Display of Marks Online.......................................................................................................... 414
Manual Cash Disbursement.................................................................................................... 416
Point-of-Transaction Terminals.................................................................................................... 416
Point-of-Transaction Terminal General Requirements............................................................ 416
Magnetic-Stripe Terminals....................................................................................................... 418
Chip-Reading Terminals.......................................................................................................... 420
Proximity/Contactless Payment Terminals.............................................................................. 429
Automated Fuel Dispensers.................................................................................................... 435
Unattended Acceptance Terminals.......................................................................................... 438
Electronic Signature Capture Terminals.................................................................................. 439
Terminals without a Printer...................................................................................................... 440
Account Number-Verifying Terminals...................................................................................... 441
Mobile Payment Acceptance Solution..................................................................................... 441
Honoring Cards............................................................................................................................ 442
General Acceptance Requirements......................................................................................... 442
Uniform Services...................................................................................................................... 444
Discount at the Point of Sale.................................................................................................. 446
Cardholder Choice................................................................................................................... 447
Limited Acceptance.................................................................................................................. 449
Card Acceptance Canada Region........................................................................................... 449
Card Acceptance Prohibitions..................................................................................................... 450
General Prohibitions................................................................................................................. 450
Other Prohibitions.................................................................................................................... 455
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Surcharges................................................................................................................................... 457
Surcharge Requirements in Australia AP Region................................................................ 457
U.S. Credit Card Surcharge Requirements - AP Region, LAC Region, and U.S. Region........ 459
Authorization Requirements......................................................................................................... 464
General Authorization Requirements....................................................................................... 464
ATM Declines........................................................................................................................... 469
T&E Authorizations.................................................................................................................. 470
Floor Limits.............................................................................................................................. 473
Partial Authorization................................................................................................................. 475
Authorization Reversals........................................................................................................... 476
Card and Cardholder Verification................................................................................................ 477
Validation and Verification Requirements................................................................................ 477
Address Verification Service.................................................................................................... 482
PIN Verification........................................................................................................................ 483
Transaction Receipts................................................................................................................... 484
Transaction Receipt General Requirements............................................................................ 484
Transaction Receipt Data Requirements................................................................................. 486
Electronic and Manual Transaction Receipts.......................................................................... 488
Transaction Receipt Delivery to Cardholder............................................................................ 497
Transaction Deposits................................................................................................................... 500
General Transaction Deposit Requirements............................................................................ 500
Transaction Deposit Time Limits............................................................................................. 500
Transaction Deposit Restrictions............................................................................................. 502
Credits and Refunds.................................................................................................................... 503
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General Credit and Refund Requirements.............................................................................. 503
Proper Disclosure of Refund Policy......................................................................................... 505
Transaction Reversals............................................................................................................. 507
Convenience Fees....................................................................................................................... 508
Convenience Fee General Requirements............................................................................... 508
Chip Card Acceptance................................................................................................................. 511
Chip Card Acceptance General Requirements....................................................................... 511
Chip Authorization.................................................................................................................... 515
EMV Liability Shift and Fallback.............................................................................................. 517
Visa Easy Payment Service (VEPS) Transactions...................................................................... 519
Visa Easy Payment Service (VEPS) - General Requirements................................................ 519
Card-Not-Present Transactions................................................................................................... 525
Mail/Phone Order and Electronic Commerce Authorization Requirements............................. 525
Mail/Phone Order and Electronic Commerce Merchant Outlet Requirements........................ 526
Electronic Commerce General Requirements......................................................................... 527
Merchant Website Requirements............................................................................................. 532
Verified by Visa Participation Requirements........................................................................... 533
Electronic Commerce Financial Responsibility........................................................................ 534
Payment Service Providers......................................................................................................... 536
Payment Service Providers (PSP) General Requirements..................................................... 536
Payment Service Providers (PSP) Acquirer Requirements..................................................... 538
High-Risk Internet Payment Service Providers....................................................................... 540
Up-Selling and Negative Option Transactions............................................................................ 542
Up-Selling and Negative Option General Requirements......................................................... 542
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Recurring Transactions................................................................................................................ 543
Recurring Transaction General Requirements........................................................................ 543
Installment Transactions.............................................................................................................. 546
Installment Transaction General Requirements...................................................................... 546
Delayed Delivery Transactions.................................................................................................... 547
Delayed Delivery Transaction General Requirements............................................................. 547
Delayed Delivery Transaction Receipt Requirements............................................................. 548
Advance Payment Transactions - U.S. Region........................................................................... 548
Advance Payment General Requirements.............................................................................. 548
Dynamic Currency Conversion.................................................................................................... 551
Dynamic Currency Conversion - General Requirements........................................................ 551
Dynamic Currency Conversion - Merchant Requirements...................................................... 554
Dynamic Currency Conversion - Acquirer Requirements........................................................ 556
Manual Cash Disbursements....................................................................................................... 557
Manual Cash Disbursements Requirements........................................................................... 557
Minimum and Maximum Cash Disbursement Amounts........................................................... 561
Manual Cash Disbursement Restrictions................................................................................. 561
Cash-Back Services..................................................................................................................... 562
Cash-Back Services General Requirements........................................................................... 562
Cash-Back Transaction Requirements.................................................................................... 566
ATM Transactions........................................................................................................................ 566
ATM Transaction General Requirements................................................................................ 566
ATM Transaction Receipts...................................................................................................... 570
ATM Misdispense..................................................................................................................... 572
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ATM Transaction Restrictions.................................................................................................. 572
Quasi-Cash Transactions............................................................................................................ 573
Quasi-Cash Transaction General Requirements..................................................................... 573
Wire Transfer Money Orders (WTMO).................................................................................... 575
Scrip......................................................................................................................................... 578
Sale of Travelers Cheques and Foreign Currency.................................................................. 578
Original Credit Transactions........................................................................................................ 579
Original Credit Transaction Processing Requirements............................................................ 579
Money Transfer Original Credit Transactions.............................................................................. 582
Money Transfer Original Credit Transaction Processing Requirements.................................. 582
Mobile Commerce Transactions - AP Region............................................................................. 585
Mobile Commerce Transactions in India - AP Region............................................................ 585
Account Funding Transactions.................................................................................................... 585
Account Funding Transaction Processing Requirements........................................................ 585
Aggregated Transactions............................................................................................................. 586
Aggregated Transaction Requirements................................................................................... 586
Deferred Payments - U.S. Region............................................................................................... 589
Deferred Payment Transactions.............................................................................................. 589
Acquirer Performance Standards - U.S. Region......................................................................... 589
Retrieval Performance Rates - U.S. Region........................................................................... 589
Chargeback Performance Rates - U.S. Region...................................................................... 590
In-Transit...................................................................................................................................... 591
In-Transit Service - General Requirements............................................................................. 591
In-Transit Service - Authorization Requirements..................................................................... 593
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In-Transit Service - Processing Requirements........................................................................ 594
General T&E................................................................................................................................ 595
General T&E Requirements..................................................................................................... 595
T&E Delayed or Amended Charges........................................................................................ 595
Airline Merchants......................................................................................................................... 597
International Airline Merchant Requirements........................................................................... 597
Car Rental Merchants.................................................................................................................. 598
Delayed or Amended Charges................................................................................................ 598
Car Rental Advance Deposit................................................................................................... 601
Visa Reservation Service for Car Rentals - U.S. Region........................................................ 604
Hotels and Cruise Lines.............................................................................................................. 608
Hotel and Cruise Line General Requirements......................................................................... 608
Hotel Guaranteed Reservations.............................................................................................. 609
Advance Deposit Service......................................................................................................... 612
Priority Check-Out Service...................................................................................................... 616
Central Reservation Service.................................................................................................... 618
Timeshare Merchants.................................................................................................................. 619
General Timeshare Merchant Requirements........................................................................... 619
Real-Time Clearing - U.S. Region............................................................................................... 619
Automated Fuel Dispensers Real-Time Clearing - U.S. Region.............................................. 619
Gambling...................................................................................................................................... 620
Online Gambling...................................................................................................................... 620
Gambling Credits..................................................................................................................... 622
In-Transit Gambling.................................................................................................................. 622
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Debt Repayment Program - U.S. Region.................................................................................... 625
Debt Repayment Program....................................................................................................... 625
Government and Education Payments........................................................................................ 627
Tax and Other Government Payments - AP Region............................................................... 627
Tax Payment Program Requirements - U.S. Region.............................................................. 628
Tax Payment Program Fee Requirements - U.S. Region....................................................... 629
Government and Higher Education Payment Program Requirements.................................... 631
Travelers Cheques....................................................................................................................... 633
Travelers Cheque Acceptance and Encashment.................................................................... 633
Health Care Transactions............................................................................................................ 634
Preauthorized Health Care Program Requirements - U.S. Region......................................... 634
Healthcare Auto-Substantiation - U.S. Region........................................................................ 635
Easy Pay Transaction - General Requirements - LAC Region............................................... 636
Easy Pay - Authorization - LAC Region.................................................................................. 637
V.me by Visa............................................................................................................................... 637
V.me by Visa - Merchant Requirements................................................................................. 637
Visa Access Token...................................................................................................................... 638
General Requirements............................................................................................................. 638
Visa POS Offers Redemption Platform U.S. Region............................................................... 639
Visa POS Offers Redemption Platform Requirements U.S. Region..................................... 639
Chapter 7: Transaction Processing............................................................................................. 641
Core Principle 7.1........................................................................................................................ 641
Provide Authorization and Settlement Service........................................................................ 641
Core Principle 7.2........................................................................................................................ 641
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Rules Differ by Acceptance Environments.............................................................................. 641
Core Principle 7.3........................................................................................................................ 641
Financial Responsibility for Processed Transactions.............................................................. 641
Core Principle 7.4........................................................................................................................ 642
Authorize, Clear, and Settle International Transactions.......................................................... 642
Access to Visa Systems.............................................................................................................. 642
VisaNet Access........................................................................................................................ 642
Data Quality................................................................................................................................. 644
Authorization and Clearing Data Requirements...................................................................... 644
Account BIN Range..................................................................................................................... 647
Account Range Table.............................................................................................................. 647
Account Level Processing....................................................................................................... 647
General Authorization Requirements........................................................................................... 648
Authorization Services............................................................................................................. 648
Authorization Computer Interface Requirements..................................................................... 649
Authorization Processing......................................................................................................... 651
Issuer Authorization Requirements.......................................................................................... 653
Member Authorization Services............................................................................................... 654
Code 10 Authorizations - U.S. Region.................................................................................... 655
Authorization Amount............................................................................................................... 656
Manual Authorizations................................................................................................................. 658
Manual Authorization Procedures............................................................................................ 658
Emergency Authorizations........................................................................................................... 659
Emergency Authorization Procedures..................................................................................... 659
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Partial Authorizations................................................................................................................... 661
Partial Authorization Service Requirements............................................................................ 661
Non-Visa Transaction Authorizations.......................................................................................... 662
Processing Requirements........................................................................................................ 662
Stand-In Processing (STIP)......................................................................................................... 663
Stand-In Processing Requirements......................................................................................... 663
Authorization Request Monitoring................................................................................................ 665
Authorization Request Monitoring Requirements.................................................................... 665
Authorization Response Standards............................................................................................. 666
Approval, Referral, and Decline Rate Standards.................................................................... 666
Automated Referral Service......................................................................................................... 668
Automated Referral Service (ARS) - U.S. Region................................................................... 668
Referral Responses..................................................................................................................... 670
Referral Response Requirements............................................................................................ 670
Authorization Reversals, Rejections, and Declines..................................................................... 675
Authorization Reversals and Rejections.................................................................................. 675
Declined Authorizations............................................................................................................... 676
Decline Response Requirements............................................................................................ 676
Allowable Decline and Referral Reasons by Product.............................................................. 677
VisaNet Clearing.......................................................................................................................... 678
VisaNet Clearing - General Requirements.............................................................................. 678
Domestic Interchange.............................................................................................................. 683
Interchange Files and Tapes................................................................................................... 684
Currency Requirements........................................................................................................... 684
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ATM Clearing........................................................................................................................... 685
Non-Visa Transaction Processing - U.S. Region.................................................................... 686
Single Message System (SMS)................................................................................................... 686
General Requirements............................................................................................................. 686
Online Financial and Deferred Clearing...................................................................................... 687
Online Financial and Deferred Clearing General Requirements - U.S. Region....................... 687
Online Financial Transactions................................................................................................. 688
Clearing Reversals and Adjustments.......................................................................................... 689
Clearing Reversals................................................................................................................... 689
Adjustments.............................................................................................................................. 691
Duplicate or Erroneous Data....................................................................................................... 692
Duplicate or Erroneous Data Processing Requirements......................................................... 692
Settlement.................................................................................................................................... 695
General Settlement Requirements........................................................................................... 695
Settlement Account Requirements.......................................................................................... 695
Late Settlement Fee................................................................................................................ 696
Settlement Financial Obligations............................................................................................. 696
National Net Settlement........................................................................................................... 696
Payment to Merchants............................................................................................................. 698
Transaction Receipt Processing.................................................................................................. 699
Transaction Receipt Processing Time Limits.......................................................................... 699
Transaction Receipt Processing - Invalid or Illegible Account Number................................... 702
Original Credit.............................................................................................................................. 704
Original Credit - General......................................................................................................... 704
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Money Transfer Original Credit................................................................................................... 706
Money Transfer Original Credit - General............................................................................... 706
Bill Payment................................................................................................................................. 709
Bill Payment Requirements - AP Region................................................................................ 709
Bill Payment - U.S. Region......................................................................................................... 710
Bill Payment - U.S. Region...................................................................................................... 710
Chapter 8: Risk Management....................................................................................................... 711
Core Principle 8.1........................................................................................................................ 711
Adherence to Risk and Fraud Controls................................................................................... 711
Core Principle 8.2........................................................................................................................ 711
Report All Fraud Activity to Visa............................................................................................. 711
Core Principle 8.3........................................................................................................................ 711
Protect Visa Account and Transaction Data........................................................................... 711
Core Principle 8.4........................................................................................................................ 712
Protect Against Illegal Activities............................................................................................... 712
Security and Fraud Control Requirements.................................................................................. 712
General Security and Fraud Control Requirements................................................................ 712
Account and Transaction Information Security............................................................................ 714
Data Security........................................................................................................................... 714
Confidential Consumer Cardholder Information...................................................................... 718
Information Security Programs................................................................................................ 719
Fines and Penalties................................................................................................................. 722
Corporate Risk Reduction........................................................................................................... 723
Corporate Risk Reduction - General....................................................................................... 723
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Corporate Risk Reduction - Acquirer Requirements............................................................... 725
Anti-Money Laundering............................................................................................................ 727
Anti-Money Laundering Compliance........................................................................................ 728
Acquirer Risk Program - U.S. Region..................................................................................... 729
Compliance Monitoring................................................................................................................ 730
Member Activity Monitoring Requirements.............................................................................. 730
Chargeback Monitoring............................................................................................................ 735
Fraud Monitoring...................................................................................................................... 743
High-Brand Risk Merchant Monitoring..................................................................................... 751
Brand Protection.......................................................................................................................... 759
Global Brand Protection Program............................................................................................ 759
Fraud Reporting........................................................................................................................... 763
Fraud Reporting Requirements............................................................................................... 763
Fraud Reporting Compliance.................