Visa International Operating Regulations...Visa International Operating Regulations viii VISA PUBLIC...
Transcript of Visa International Operating Regulations...Visa International Operating Regulations viii VISA PUBLIC...
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Visa International Operating Regulations
15 October 2013
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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.................................................................................................................. 8
Major Topics............................................................................................................................ 8
Variance Topics....................................................................................................................... 24
Miscellaneous Topics............................................................................................................... 25
AP Region Major Topics.......................................................................................................... 42
Canada Region Major Topics.................................................................................................. 43
CEMEA Region Major Topics.................................................................................................. 45
LAC Region Major Topics....................................................................................................... 45
U.S. Region Major Topics....................................................................................................... 47
Other Revisions........................................................................................................................ 48
About the Operating Regulations................................................................................................ 49
General Overview........................................................................................................................ 49
What are Operating Regulations?........................................................................................... 49
What Do Operating Regulations Include?............................................................................... 50
Organization................................................................................................................................. 50
Operating Regulations Structure............................................................................................. 50
Authoring Style............................................................................................................................. 52
General Authoring Conventions............................................................................................... 52
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Contents Numbering.................................................................................................................... 53
Section Numbering................................................................................................................... 53
Chapter 1: Visa Operating Regulations Governance................................................................. 55
Core Principle 1.1........................................................................................................................ 55
The Operating Regulations...................................................................................................... 55
Core Principle 1.2........................................................................................................................ 55
Visa Management.................................................................................................................... 55
Core Principle 1.3........................................................................................................................ 55
Compliance............................................................................................................................... 55
Core Principle 1.4........................................................................................................................ 56
Consistency.............................................................................................................................. 56
Core Principle 1.5........................................................................................................................ 56
Conflicts.................................................................................................................................... 56
Core Principle 1.6........................................................................................................................ 56
Variances and Waivers............................................................................................................ 56
Use and Application of Bylaws and Operating Regulations........................................................ 57
Obligation to Comply with Bylaws and Visa International Operating Regulations................... 57
Use and Application of Operating Regulations........................................................................ 57
Obligation to Comply with Operating Regulations................................................................... 59
Local, Domestic, and Regional Operating Regulations and Private Agreements........................ 60
Regional Operating Regulations.............................................................................................. 60
National, Group Members, and Private Agreements............................................................... 60
Extensions to the Operating Regulations.................................................................................... 61
Publications with Equivalent Authority..................................................................................... 61
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Variances or Waivers to the Operating Regulations................................................................... 61
Variances or Waivers - Procedures......................................................................................... 61
Confidentiality of Visa Materials.................................................................................................. 63
Confidentiality Requirements................................................................................................... 63
Visa Right to Monitor, Audit, Inspect, or Investigate................................................................... 64
Visa Right to Monitor, Audit, Inspect, or Investigate............................................................... 64
Member Rights and Obligations.............................................................................................. 65
General Investigation Responsibilities..................................................................................... 65
Operating Regulations Compliance and Enforcement................................................................ 67
Fines and Penalties - General................................................................................................. 67
Fines and Penalties Process................................................................................................... 68
Fines and Penalties for Repetitive and Willful Violation.......................................................... 69
Compliance Enforcement Appeals........................................................................................... 70
Right of Termination of Merchant or Agents............................................................................... 71
Visa Rights............................................................................................................................... 71
Member Obligations................................................................................................................. 73
Chapter 2: Visa System Participation......................................................................................... 75
Core Principle 2.1........................................................................................................................ 75
Bylaws and Operating Regulations......................................................................................... 75
Core Principle 2.2........................................................................................................................ 75
Third Party Registration........................................................................................................... 75
Core Principle 2.3........................................................................................................................ 76
Liabilities and Indemnifications................................................................................................ 76
Membership.................................................................................................................................. 76
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Member Acquisition.................................................................................................................. 76
Operating Certificate................................................................................................................ 78
Online Submission and Electronic Signature.......................................................................... 79
Acquirer Licensing.................................................................................................................... 80
Agents - Third Party and VisaNet Processors............................................................................ 81
General Agent Requirements.................................................................................................. 81
VisaNet Processor Requirements............................................................................................ 84
Third Party/ISO Requirements................................................................................................. 88
Card Manufacturers and Personalizers................................................................................... 97
Fines Related to Agents.......................................................................................................... 98
Liabilities and Indemnifications.................................................................................................... 99
Members and Agents............................................................................................................... 99
Visa Systems........................................................................................................................... 100
Visa Programs and Products................................................................................................... 100
Chapter 3: The Visa License........................................................................................................ 103
Core Principle 3.1........................................................................................................................ 103
Intellectual Property................................................................................................................. 103
Core Principle 3.2........................................................................................................................ 103
Brand and Licensed Technology............................................................................................. 103
Core Principle 3.3........................................................................................................................ 104
BIN Licensing........................................................................................................................... 104
Marks License.............................................................................................................................. 104
Marks License Grant................................................................................................................ 104
Sponsorships/Partnerships Including Olympics....................................................................... 106
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BIN License and Administration.................................................................................................. 107
License..................................................................................................................................... 107
Administration........................................................................................................................... 107
Mergers and Acquisitions........................................................................................................ 110
Membership Status.................................................................................................................. 111
BIN Licensee................................................................................................................................ 111
Responsibilities......................................................................................................................... 111
BIN Use........................................................................................................................................ 111
Member Use............................................................................................................................ 111
Merchant Use and Disclosure of BIN Information................................................................... 113
Non-Visa BINs............................................................................................................................. 117
Non-Visa-Assigned BINs.......................................................................................................... 117
Software License......................................................................................................................... 118
Ownership and Confidentiality................................................................................................. 118
Non-Transferability................................................................................................................... 118
Limitations................................................................................................................................ 118
Software Enhancements/Modifications........................................................................................ 119
Enhancements/Modifications.................................................................................................... 119
Use of Visa Systems................................................................................................................... 119
Visa Systems Use.................................................................................................................... 119
Use of Visa-Owned Technology.................................................................................................. 122
Use of Visa-Owned Chip Technology - U.S. Region.............................................................. 122
Visa U.S. Regulation II Certification Program............................................................................. 122
Visa U.S. Regulation II Certification Program - AP Region, LAC Region, and U.S. Region.... 122
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Chapter 4: The Visa Brand........................................................................................................... 125
Core Principle 4.1........................................................................................................................ 125
Brand Prominence................................................................................................................... 125
Core Principle 4.2........................................................................................................................ 125
Communications....................................................................................................................... 125
Core Principle 4.3........................................................................................................................ 125
Visa-Owned Mark on a Payment Device................................................................................ 125
Core Principle 4.4........................................................................................................................ 126
Corporate Names..................................................................................................................... 126
Core Principle 4.5........................................................................................................................ 126
Denote and Promote Visa....................................................................................................... 126
Core Principle 4.6........................................................................................................................ 126
Card Acceptance Outside of Country of Issuance.................................................................. 126
Core Principle 4.7........................................................................................................................ 127
Card Acceptance at Point-of-Sale........................................................................................... 127
Marks............................................................................................................................................ 127
General Use of Marks and Marketing Materials...................................................................... 127
Use of Product Marks.............................................................................................................. 134
Corporate Identity........................................................................................................................ 135
Use of Brand in Corporate Identity.......................................................................................... 135
Use of Marks on Cards............................................................................................................... 136
Marks Usage Requirements.................................................................................................... 136
Multiple Marks on Card........................................................................................................... 137
Competitive Marks................................................................................................................... 138
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General Card Design............................................................................................................... 140
Member Identification................................................................................................................... 141
Member Identification on Card................................................................................................ 141
Affinity/Co-Branded Card Programs............................................................................................ 142
Non-Member Marks on Cards................................................................................................. 142
Global Co-Branded Card Program Requirements................................................................... 143
Affinity/Co-Branded Card Program Requirements................................................................... 144
Brand Positioning......................................................................................................................... 148
Card and Product Positioning.................................................................................................. 148
Use of Marks in Promotions, Advertisements, and Solicitations................................................. 150
Solicitations.............................................................................................................................. 150
Promotional Material................................................................................................................ 151
Member Sponsorships................................................................................................................. 154
Sponsorships Usage Requirements........................................................................................ 154
Electron Mark/Identifier................................................................................................................ 155
Electron Marks Usage Requirements...................................................................................... 155
Interlink Program Marks.............................................................................................................. 155
Interlink Program Marks Usage Requirements........................................................................ 155
Plus Program Marks.................................................................................................................... 156
Plus Program Marks Usage Requirements............................................................................. 156
Chapter 5: Visa Products and Services...................................................................................... 159
Core Principle 5.1........................................................................................................................ 159
Issuing and Technology Standards......................................................................................... 159
Core Principle 5.2........................................................................................................................ 159
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Issuing and Using Visa Products............................................................................................ 159
Core Principle 5.3........................................................................................................................ 160
Card Design Requirements and Standards............................................................................. 160
Card Issuance.............................................................................................................................. 160
Issuer Responsibilities - General............................................................................................. 160
Account Range and BIN Use.................................................................................................. 162
Account Number Specifications............................................................................................... 162
PIN Issuance............................................................................................................................ 162
Expiration Date Standards....................................................................................................... 164
Card Manufacture and Delivery................................................................................................... 165
Card Shipping and Security..................................................................................................... 165
Card Embossing, Printing, Encoding, and Personalization..................................................... 166
Issuer Requirements - General................................................................................................... 168
Exchange Rates....................................................................................................................... 168
Cardholder Liability.................................................................................................................. 170
Provisional Credit..................................................................................................................... 172
Cardholder Applications........................................................................................................... 173
Confidentiality of Cardholder Information................................................................................ 173
Data Retention and Transmission........................................................................................... 174
Disputed Transactions - Canada Region................................................................................ 175
Cardholder Notifications........................................................................................................... 176
Insurance Program - U.S. Region........................................................................................... 178
Other Issuer Requirements...................................................................................................... 180
Magnetic-Stripe Requirements.................................................................................................... 181
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Magnetic-Stripe Encoding........................................................................................................ 181
Chip Card Requirements............................................................................................................. 182
General Chip Card Requirements........................................................................................... 182
Chip Card Technology Requirements..................................................................................... 187
Cardholder Verification Method............................................................................................... 189
Card Authentication Method.................................................................................................... 191
Cardholder Account Selection................................................................................................. 192
Chip Card Post-Issuance Updates.......................................................................................... 193
Chip Issuer Liability.................................................................................................................. 194
EMV Liability Shift.................................................................................................................... 196
Proximity/Contactless Cards.................................................................................................... 198
Mobile Payment Devices......................................................................................................... 201
Non-Standard Cards.................................................................................................................... 203
Non-Standard Card General Requirements............................................................................ 203
Visa Mini Cards........................................................................................................................ 203
Visa Micro Tag......................................................................................................................... 204
Unembossed Cards................................................................................................................. 204
Virtual Accounts........................................................................................................................... 205
Virtual Accounts - General Requirements............................................................................... 205
Virtual Accounts - Consumer Programs.................................................................................. 205
V.me by Visa............................................................................................................................... 206
V.me by Visa - General Requirements.................................................................................... 206
Visa Prepaid Products - Consumer and Commercial Card Requirements.................................. 206
Visa Prepaid Products - General Requirements..................................................................... 206
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Visa Mobile Prepaid................................................................................................................. 213
Consumer Products..................................................................................................................... 215
Visa Consumer Products - General Requirements................................................................. 215
Visa Classic Cards................................................................................................................... 216
Visa Charge Card.................................................................................................................... 216
Visa Traditional Rewards Cards - U.S. Region....................................................................... 217
Visa Debit Cards...................................................................................................................... 219
Visa Electron Cards................................................................................................................. 220
Visa Gold/Premier Cards......................................................................................................... 221
Visa Infinite Cards.................................................................................................................... 224
Visa Infinite Privilege Cards - Canada Region........................................................................ 228
Visa Platinum Cards................................................................................................................ 230
Visa Signature Cards............................................................................................................... 233
Visa Signature Preferred Cards - U.S. Region........................................................................ 237
Visa Check Cards - U.S. Region............................................................................................. 239
Secured Cards......................................................................................................................... 242
V PAY...................................................................................................................................... 243
Campus Cards......................................................................................................................... 243
Visa Rewards Cards - AP Region and CEMEA Region.......................................................... 244
Visa Consumer Prepaid Card Requirements.......................................................................... 245
Visa Prepaid Load Service...................................................................................................... 248
Visa Prepaid Products - Visa ReadyLink................................................................................ 249
Visa TravelMoney.................................................................................................................... 251
Original Credit Transaction.......................................................................................................... 253
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Original Credit Transaction - General Requirements.............................................................. 253
Visa Money Transfer................................................................................................................... 254
Money Transfer Original Credit – General Requirements....................................................... 254
Visa Commercial Products.......................................................................................................... 255
Visa Commercial Products - General Requirements............................................................... 255
Visa Meetings Card................................................................................................................. 263
Prepaid Commercial................................................................................................................. 265
Visa Agro Card - LAC Region................................................................................................. 265
Visa Cargo - LAC Region........................................................................................................ 267
Visa Commercial Business Products........................................................................................... 268
Commercial Business Products General Requirements.......................................................... 268
Visa Business Enhanced Cards.............................................................................................. 270
Visa Business Platinum Cards................................................................................................ 271
Visa Platinum Business Cards - LAC Region......................................................................... 271
Visa Signature Business Cards............................................................................................... 275
Visa Business Check Cards.................................................................................................... 282
Visa Business Electron Cards................................................................................................. 283
Visa Business Debit................................................................................................................. 283
Visa Business Debit Cards - AP Region................................................................................. 285
Visa Infinite Business Cards.................................................................................................... 285
Visa Infinite Business Cards - Canada Region....................................................................... 287
Visa Commercial Purchasing Products....................................................................................... 292
Purchasing Cards - General.................................................................................................... 292
Visa Fleet Cards...................................................................................................................... 293
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Visa Large Purchase Advantage – U.S. Region .................................................................... 296
Visa Commercial Corporate Products......................................................................................... 297
Visa Corporate Prepaid Cards................................................................................................. 297
Visa Premium Corporate Cards - LAC Region........................................................................ 298
Visa Corporate Debit - LAC Region........................................................................................ 308
Commercial Corporate Products - U.S. Region...................................................................... 308
Visa Commercial Products Programs and Services.................................................................... 309
V Distribution Program............................................................................................................. 309
Centralized Card Issuance...................................................................................................... 310
Authorization Request and Settlement Amount Match – U.S. Region.................................... 311
Global Support Services.............................................................................................................. 312
Visa Global Customer Assistance Services............................................................................ 312
Emergency Cash Disbursement and Emergency Card Replacement..................................... 316
Stand-In Processing................................................................................................................. 320
Lost or Stolen Card Reporting................................................................................................. 320
Emergency Request Fines and Penalties............................................................................... 321
Cardholder Loyalty Program........................................................................................................ 321
Visa Extras - U.S. Region....................................................................................................... 321
Visa Loyalty Platform Services................................................................................................ 323
Visa Incentive Network - U.S. Region..................................................................................... 323
Visa SavingsEdge - U.S. Region............................................................................................ 324
Visa Integrated Redemption Requirements - U.S. Region...................................................... 325
Credit Bureau Reporting - U.S. Region....................................................................................... 326
Credit Bureau Reporting Requirements - U.S. Region............................................................ 326
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Commercial Data Management and Reporting........................................................................... 328
Commercial Solutions.............................................................................................................. 328
Enhanced Data........................................................................................................................ 330
POS Balance Inquiry Service...................................................................................................... 331
POS Balance Inquiry Service Requirements........................................................................... 331
Visa POS Solutions Program...................................................................................................... 332
Visa POS Solutions Program Requirements........................................................................... 332
Visa PIN Debit Gateway Service - U.S. Region.......................................................................... 333
Visa PIN Debit Gateway Service Requirements - U.S. Region............................................... 333
Plus Program............................................................................................................................... 333
Plus Program Requirements.................................................................................................... 333
Visa Global ATM Network........................................................................................................... 334
Visa Global ATM Network Requirements................................................................................ 334
ATM Operators......................................................................................................................... 335
ATM Balance Inquiry Service.................................................................................................. 338
ATM Fees................................................................................................................................ 339
Global ATM Network PIN Requirements................................................................................. 344
ATM Issuer Requirements - U.S. Region................................................................................ 344
ATM Access Fee Fines........................................................................................................... 345
Preauthorized Payment Cancellation Service............................................................................. 345
Preauthorized Payment Cancellation Service Requirements.................................................. 345
Visa Payment Controls................................................................................................................ 346
Visa Payment Controls Service Information............................................................................ 346
Visa Account Updater.................................................................................................................. 347
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Visa Account Updater Requirements...................................................................................... 347
Visa Risk Products and Services................................................................................................ 348
Visa Advanced Authorization................................................................................................... 348
MoneyChoices - U.S. Region.................................................................................................. 349
Address Verification Service (AVS)......................................................................................... 349
Card Recovery Bulletin (CRB)................................................................................................. 350
Exception File.......................................................................................................................... 352
National Card Recovery File - U.S. Region............................................................................ 353
Account Number Verification Service...................................................................................... 353
Verified by Visa............................................................................................................................ 355
Verified by Visa Participation Requirements........................................................................... 355
Verified by Visa Non-Compliance Penalties............................................................................ 358
Cardholder Authentication........................................................................................................ 358
VisaVue Online............................................................................................................................ 360
VisaVue Online Requirements................................................................................................. 360
Visa Online................................................................................................................................... 360
Use of Visa Online................................................................................................................... 360
Visa Membership Management................................................................................................... 361
Client Portfolio Management Self-Service Tools Requirements.............................................. 361
VisaNet Gateway Services - AP Region..................................................................................... 361
VisaNet Gateway Services Requirements - AP Region.......................................................... 361
Visa Transaction Alerts Service.................................................................................................. 362
Visa Transaction Alerts Service Requirements....................................................................... 362
Chapter 6: Payment Acceptance................................................................................................. 363
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Core Principle 6.1........................................................................................................................ 363
Display of Marks...................................................................................................................... 363
Core Principle 6.2........................................................................................................................ 363
Honor All Cards Properly Presented....................................................................................... 363
Core Principle 6.3........................................................................................................................ 364
No Surcharging Unless Required by Law............................................................................... 364
Core Principle 6.4........................................................................................................................ 364
Merchant Qualification Standards............................................................................................ 364
Merchant Agreement................................................................................................................... 365
General Merchant Requirements............................................................................................. 365
Required Merchant Information............................................................................................... 371
Jurisdiction of the Acquirer...................................................................................................... 373
Payment Service Providers and Sponsored Merchants.......................................................... 375
International Airline Program................................................................................................... 376
Acquirer Due Diligence............................................................................................................ 377
Electronic Commerce Acquirer Agreement............................................................................. 378
Point-of-Transaction - Display of Marks...................................................................................... 378
Display of Marks at the Point of Sale...................................................................................... 378
Display of Marks at an ATM.................................................................................................... 380
Display of Marks Online.......................................................................................................... 381
Manual Cash Disbursement.................................................................................................... 382
Point-of-Transaction Terminals.................................................................................................... 382
Point-of-Transaction Terminal General Requirements............................................................ 382
Magnetic-Stripe Terminals....................................................................................................... 383
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Chip-Reading Terminals.......................................................................................................... 385
Proximity/Contactless Payment Terminals.............................................................................. 391
Automated Fuel Dispensers.................................................................................................... 396
Unattended Acceptance Terminals.......................................................................................... 398
Electronic Signature Capture Terminals.................................................................................. 400
Terminals without a Printer...................................................................................................... 400
Mobile Payment Acceptance Solution..................................................................................... 401
Honoring Cards............................................................................................................................ 401
General Acceptance Requirements......................................................................................... 401
Uniform Services...................................................................................................................... 403
Discount at the Point of Sale.................................................................................................. 404
Cardholder Choice................................................................................................................... 405
Limited Acceptance.................................................................................................................. 406
Card Acceptance Canada Region........................................................................................... 407
Card Acceptance Prohibitions..................................................................................................... 408
General Prohibitions................................................................................................................. 408
Other Prohibitions.................................................................................................................... 412
Surcharges................................................................................................................................... 413
Surcharge Requirements in Australia – AP Region................................................................ 413
U.S. Credit Card Surcharge Requirements - AP Region, LAC Region, and U.S. Region........ 415
Authorization Requirements......................................................................................................... 420
General Authorization Requirements....................................................................................... 420
ATM Declines........................................................................................................................... 424
T&E Authorizations.................................................................................................................. 425
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Floor Limits.............................................................................................................................. 428
Partial Authorization................................................................................................................. 430
Authorization Reversals........................................................................................................... 431
Card and Cardholder Verification................................................................................................ 431
Validation and Verification Requirements................................................................................ 431
Address Verification Service.................................................................................................... 437
PIN Verification........................................................................................................................ 438
Transaction Receipts................................................................................................................... 439
Transaction Receipt General Requirements............................................................................ 439
Transaction Receipt Data Requirements................................................................................. 447
Electronic and Manual Transaction Receipts.......................................................................... 448
Transaction Receipt Delivery to Cardholder............................................................................ 450
Transaction Deposits................................................................................................................... 452
General Transaction Deposit Requirements............................................................................ 452
Transaction Deposit Time Limits............................................................................................. 452
Transaction Deposit Restrictions............................................................................................. 452
Credits and Refunds.................................................................................................................... 454
General Credit and Refund Requirements.............................................................................. 454
Proper Disclosure of Refund Policy......................................................................................... 455
Transaction Reversals............................................................................................................. 456
Convenience Fees....................................................................................................................... 457
Convenience Fee General Requirements............................................................................... 457
Chip Card Acceptance................................................................................................................. 460
Chip Card Acceptance General Requirements....................................................................... 460
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Chip Authorization.................................................................................................................... 463
EMV Liability Shift and Fallback.............................................................................................. 464
Visa Easy Payment Service (VEPS) Transactions...................................................................... 466
Visa Easy Payment Service (VEPS) - General Requirements................................................ 466
Card-Not-Present Transactions................................................................................................... 470
Mail/Phone Order and Electronic Commerce Authorization Requirements............................. 470
Mail/Phone Order and Electronic Commerce Merchant Outlet Requirements........................ 471
Electronic Commerce General Requirements......................................................................... 472
Merchant Website Requirements............................................................................................. 476
Verified by Visa Participation Requirements........................................................................... 477
Electronic Commerce Financial Responsibility........................................................................ 479
Payment Service Providers......................................................................................................... 480
Payment Service Providers (PSP) General Requirements..................................................... 480
Payment Service Providers (PSP) Acquirer Requirements..................................................... 481
High-Risk Internet Payment Service Providers....................................................................... 484
Up-Selling and Negative Option Transactions............................................................................ 486
Up-Selling and Negative Option General Requirements......................................................... 486
Recurring Transactions................................................................................................................ 487
Recurring Transaction General Requirements........................................................................ 487
Installment Transactions.............................................................................................................. 489
Installment Transaction General Requirements...................................................................... 489
Delayed Delivery Transactions.................................................................................................... 490
Delayed Delivery Transaction General Requirements............................................................. 490
Delayed Delivery Transaction Receipt Requirements............................................................. 491
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Advance Payment Transactions - U.S. Region........................................................................... 491
Advance Payment General Requirements.............................................................................. 491
Dynamic Currency Conversion.................................................................................................... 493
Dynamic Currency Conversion - Merchant Requirements...................................................... 493
Dynamic Currency Conversion - Acquirer Requirements........................................................ 495
Manual Cash Disbursements....................................................................................................... 495
Manual Cash Disbursements Requirements........................................................................... 495
Minimum and Maximum Cash Disbursement Amounts........................................................... 498
Manual Cash Disbursement Restrictions................................................................................. 498
Cash-Back Services..................................................................................................................... 499
Cash-Back Services General Requirements........................................................................... 499
Cash-Back Transaction Requirements.................................................................................... 503
ATM Transactions........................................................................................................................ 503
ATM Transaction General Requirements................................................................................ 503
ATM Misdispense..................................................................................................................... 507
ATM Transaction Restrictions.................................................................................................. 508
Quasi-Cash Transactions............................................................................................................ 509
Quasi-Cash Transaction General Requirements..................................................................... 509
Wire Transfer Money Orders (WTMO).................................................................................... 510
Scrip......................................................................................................................................... 512
Sale of Travelers Cheques and Foreign Currency.................................................................. 512
Original Credit Transactions........................................................................................................ 513
Original Credit Transaction Processing Requirements............................................................ 513
Money Transfer Original Credit Transactions.............................................................................. 515
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Money Transfer Original Credit Transaction Processing Requirements.................................. 515
Account Funding Transactions.................................................................................................... 518
Account Funding Transaction Processing Requirements........................................................ 518
Aggregated Transactions............................................................................................................. 519
Aggregated Transaction Requirements................................................................................... 519
Deferred Payments - U.S. Region............................................................................................... 520
Deferred Payment Transactions.............................................................................................. 520
In-Transit...................................................................................................................................... 521
In-Transit Service - General Requirements............................................................................. 521
In-Transit Service - Authorization Requirements..................................................................... 522
In-Transit Service - Processing Requirements........................................................................ 522
General T&E................................................................................................................................ 522
T&E Delayed or Amended Charges........................................................................................ 522
Airline Merchants......................................................................................................................... 524
International Airline Merchant Requirements........................................................................... 524
Car Rental Merchants.................................................................................................................. 525
Delayed or Amended Charges................................................................................................ 525
Car Rental Advance Deposit................................................................................................... 527
Visa Reservation Service for Car Rentals - U.S. Region........................................................ 529
Hotels and Cruise Lines.............................................................................................................. 533
Hotel and Cruise Line General Requirements......................................................................... 533
Hotel Guaranteed Reservations.............................................................................................. 533
Advance Deposit Service......................................................................................................... 536
Priority Check-Out Service...................................................................................................... 540
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Timeshare Merchants.................................................................................................................. 541
General Timeshare Merchant Requirements........................................................................... 541
Real-Time Clearing - U.S. Region............................................................................................... 542
Automated Fuel Dispensers Real-Time Clearing - U.S. Region.............................................. 542
Gambling...................................................................................................................................... 542
Online Gambling...................................................................................................................... 542
Gambling Credits..................................................................................................................... 545
Debt Repayment Program - U.S. Region.................................................................................... 545
Debt Repayment Program....................................................................................................... 545
Government and Education Payments........................................................................................ 547
Tax and Other Government Payments - AP Region............................................................... 547
Government Payment Requirements - CEMEA Region.......................................................... 548
Government Payment Service Fee Requirements - CEMEA Region...................................... 549
Government and Higher Education Payment Program Requirements.................................... 550
Travelers Cheques....................................................................................................................... 552
Travelers Cheque Acceptance and Encashment.................................................................... 552
Health Care Transactions............................................................................................................ 553
Preauthorized Health Care Program Requirements - U.S. Region......................................... 553
Healthcare Auto-Substantiation - U.S. Region........................................................................ 554
Easy Pay Transaction - General Requirements - LAC Region............................................... 555
Easy Pay - Authorization - LAC Region.................................................................................. 556
Visa Access Token...................................................................................................................... 557
General Requirements............................................................................................................. 557
Chapter 7: Transaction Processing............................................................................................. 559
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Core Principle 7.1........................................................................................................................ 559
Provide Authorization and Settlement Service........................................................................ 559
Core Principle 7.2........................................................................................................................ 559
Rules Differ by Acceptance Environments.............................................................................. 559
Core Principle 7.3........................................................................................................................ 559
Financial Responsibility for Processed Transactions.............................................................. 559
Core Principle 7.4........................................................................................................................ 560
Authorize, Clear, and Settle International Transactions.......................................................... 560
Access to Visa Systems.............................................................................................................. 560
VisaNet Access........................................................................................................................ 560
Data Quality................................................................................................................................. 562
Authorization and Clearing Data Requirements...................................................................... 562
Account BIN Range..................................................................................................................... 568
Account Range Table.............................................................................................................. 568
Account Level Processing....................................................................................................... 568
General Authorization Requirements........................................................................................... 569
Authorization Services............................................................................................................. 569
Authorization Processing......................................................................................................... 569
Issuer Authorization Requirements.......................................................................................... 571
Member Authorization Services............................................................................................... 572
Authorization Amount............................................................................................................... 573
Manual Authorizations................................................................................................................. 575
Manual Authorization Procedures............................................................................................ 575
Emergency Authorizations........................................................................................................... 576
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Emergency Authorization Procedures..................................................................................... 576
Partial Authorizations................................................................................................................... 577
Partial Authorization Service Requirements............................................................................ 577
Non-Visa Transaction Authorizations.......................................................................................... 578
Processing Requirements........................................................................................................ 578
Stand-In Processing (STIP)......................................................................................................... 579
Stand-In Processing Requirements......................................................................................... 579
Authorization Request Monitoring................................................................................................ 581
Authorization Request Monitoring Requirements.................................................................... 581
Authorization Response Standards............................................................................................. 582
Approval, Referral, and Decline Rate Standards.................................................................... 582
Referral Responses..................................................................................................................... 583
Referral Response Requirements............................................................................................ 583
Authorization Reversals, Rejections, and Declines..................................................................... 586
Authorization Reversals and Rejections.................................................................................. 586
Declined Authorizations............................................................................................................... 587
Decline Response Requirements............................................................................................ 587
Allowable Decline and Referral Reasons by Product.............................................................. 588
VisaNet Clearing.......................................................................................................................... 588
VisaNet Clearing - General Requirements.............................................................................. 588
Domestic Interchange.............................................................................................................. 591
Interchange Files and Tapes................................................................................................... 592
Currency Requirements........................................................................................................... 592
ATM Clearing........................................................................................................................... 593
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Non-Visa Transaction Processing - U.S. Region.................................................................... 594
Single Message System (SMS)................................................................................................... 594
General Requirements............................................................................................................. 594
Online Financial and Deferred Clearing...................................................................................... 595
Online Financial and Deferred Clearing General Requirements - U.S. Region....................... 595
Online Financial Transactions................................................................................................. 595
Clearing Reversals and Adjustments.......................................................................................... 596
Clearing Reversals................................................................................................................... 596
Adjustments.............................................................................................................................. 597
Duplicate or Erroneous Data....................................................................................................... 598
Duplicate or Erroneous Data Processing Requirements......................................................... 598
Settlement.................................................................................................................................... 600
General Settlement Requirements........................................................................................... 600
Settlement Account Requirements.......................................................................................... 601
Late Settlement Fee................................................................................................................ 601
Settlement Financial Obligations............................................................................................. 601
National Net Settlement........................................................................................................... 602
Payment to Merchants............................................................................................................. 604
Transaction Receipt Processing.................................................................................................. 605
Transaction Receipt Processing Time Limits.......................................................................... 605
Transaction Receipt Processing - Invalid or Illegible Account Number................................... 607
Original Credit.............................................................................................................................. 608
Original Credit - General......................................................................................................... 608
Money Transfer Original Credit................................................................................................... 610
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Money Transfer Original Credit - General............................................................................... 610
Bill Payment - U.S. Region......................................................................................................... 613
Bill Payment - U.S. Region...................................................................................................... 613
Chapter 8: Risk Management....................................................................................................... 615
Core Principle 8.1........................................................................................................................ 615
Adherence to Risk and Fraud Controls................................................................................... 615
Core Principle 8.2........................................................................................................................ 615
Report All Fraud Activity to Visa............................................................................................. 615
Core Principle 8.3........................................................................................................................ 615
Protect Visa Account and Transaction Data........................................................................... 615
Core Principle 8.4........................................................................................................................ 616
Protect Against Illegal Activities............................................................................................... 616
Security and Fraud Control Requirements.................................................................................. 616
General Security and Fraud Control Requirements................................................................ 616
Account and Transaction Information Security............................................................................ 618
Data Security........................................................................................................................... 618
Confidential Consumer Cardholder Information...................................................................... 621
Information Security Programs................................................................................................ 622
Fines and Penalties................................................................................................................. 625
Corporate Risk Reduction........................................................................................................... 626
Corporate Risk Reduction - General....................................................................................... 626
Corporate Risk Reduction - Acquirer Requirements............................................................... 627
Anti-Money Laundering............................................................................................................ 629
Anti-Money Laundering Compliance........................................................................................ 630
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Acquirer Risk Program - U.S. Region..................................................................................... 631
Compliance Monitoring................................................................................................................ 632
Member Activity Monitoring Requirements.............................................................................. 632
Chargeback Monitoring............................................................................................................ 634
Fraud Monitoring...................................................................................................................... 643
High-Brand Risk Merchant Monitoring..................................................................................... 649
Brand Protection.......................................................................................................................... 657
Global Brand Protection Program............................................................................................ 657
Fraud Reporting........................................................................................................................... 660
Fraud Reporting Requirements............................................................................................... 660
Fraud Reporting Compliance................................................................................................... 662
Fraud Losses and Investigation............................................................................................... 664
Card Recovery............................................................................................................................. 666
Return of Recovered Cards..................................................................................................... 666
Recovered Counterfeit Cards.................................................................................................. 669
Card Recovery at the Point of Sale........................................................................................ 669
Card Recovery at an ATM....................................................................................................... 670
Recovered Card Handling Fees.............................................................................................. 671
Recovered Card Rewards....................................................................................................... 672
Counterfeit Losses....................................................................................................................... 675
Counterfeit Transaction Liability.............................................................................................. 675
Global Compromised Account Recovery (GCAR)................................................................... 676
POS Entry Mode Compliance Liability - AP Region................................................................ 681
Authentication Requirements....................................................................................................... 682
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PIN Requirements.................................................................................................................... 682
Triple DES................................................................................................................................ 684
Card Verification Value (CVV)................................................................................................. 685
Card Verification Value 2 (CVV2)............................................................................................ 686
Authentication Fines and Penalties......................................................................................... 688
Terminated Merchant File............................................................................................................ 689
Terminated Merchants............................................................................................................. 689
Chapter 9: Dispute Resolution..................................................................................................... 693
Core Principle 9.1........................................................................................................................ 693
Attempt to Honor/Post all Transactions................................................................................... 693
Core Principle 9.2........