Visa Core Rules and Visa Product and Service Rules

Visa Core Rules and

Visa Product and Service Rules

13 April 2024

Version 1.2 (4 June 2024)

The trademarks, logos, trade names and service marks, whether registered or unregistered

(collectively the “Trademarks”) are Trademarks owned by Visa. All other trademarks not

attributed to Visa are the property of their respective owners.

Visa is committed to providing our partners and interested parties with greater insight into

Visa’s operations. As part of our effort, we are pleased to provide access to the latest edition

of the Visa Core Rules and Visa Product and Service Rules, which govern participation of our

financial institution clients in the Visa system.

To protect cardholders and merchants and maintain the integrity of the Visa system, we have

omitted proprietary and competitive information, as well as certain details from the rules

relating to the security of the network.

Any regional or country-specific rules within the Visa Core Rules and Visa Product and Service

Rules apply only to the operations of financial clients within the relevant region or country,

and any rules marked with the name of a region(s) or country(ies) are applicable to financial

institutions operating in that region(s) or country(ies) only.

The Visa Rules must not be duplicated, in whole or in part, without prior written permission

from Visa.

If you have questions about Visa’s rules, please contact us.

Contents

Contents 3

Tables 28

Summary of Changes 44

Summary of Changes since the 14 October 2023 Visa Core Rules and Visa Product and

Service Rules 44

Introduction 63

The Visa Rules 63

1 Visa Core Rules 66

1.1 General 66

1.1.1 Governance 66

1.1.2 Local, Domestic, and Regional Rules and Private Agreements 73

1.1.3 Waivers 73

1.1.4 Operating Certificates 73

1.1.5 Confidentiality 74

1.1.6 Visa Rights 78

1.1.7 Use of VisaNet 81

1.1.8 Liabilities and Indemnifications 81

1.2 Licensing and Numerics Management 84

1.2.1 Licensing – General Membership 84

1.3 Use of Marks 85

1.3.1 Marks License 85

1.3.2 General Use of Marks 86

1.3.3 Integrity Risk 89

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1.3.4 Marketing, Promotion, and Advertising Materials 90

1.4 Issuance 95

1.4.1 Issuance Conditions 95

1.4.2 Account Numbers 96

1.4.3 Notification and Disclosure 96

1.4.4 Issuer Operational Standards 98

1.4.6 Zero Liability 101

1.5 Acceptance 101

1.5.1 General Acquirer Requirements 101

1.5.2 Merchant Agreements 107

1.5.3 Marks Display 108

1.5.4 Card Acceptance 108

1.5.5 Card Acceptance Prohibitions 117

1.5.6 Transaction Receipts 119

1.5.7 Merchant Deposits 119

1.5.8 Travelers Cheques 121

1.6 ATM 122

1.6.1 ATM Requirements 122

1.7 Transaction Processing 122

1.7.1 General Processing 122

1.7.2 Data Requirements 123

1.7.3 Acquirer Authorization Requests 124

1.7.4 Issuer Authorization Processing 125

1.7.5 Clearing 126

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1.7.6 Settlement 127

1.7.7 Reversals and Adjustments 127

1.8 Processing Products 129

1.8.1 Original Credits 129

1.9 Interchange 129

1.9.1 Interchange Reimbursement Fee (IRF) Determination and Payment 129

1.9.2 Interchange Reimbursement Fee (IRF) Adjustments and Compliance 130

1.10 Risk 132

1.10.1 Corporate Risk Reduction 132

1.10.2 Integrity Risk 137

1.10.3 Investigations 137

1.10.4 Information Security 138

1.10.5 High-Integrity Risk Activity 141

1.10.6 Recovered Cards 142

1.10.7 Counterfeit Losses 142

1.10.8 Agents 143

1.10.9 Card Manufacturing and Distribution 146

1.11 Dispute Resolution 147

1.11.1 Disputes 147

1.11.2 Arbitration and Compliance 149

1.12 Fees and Non-Compliance Assessments 150

1.12.1 Fee Assessment by Visa 150

1.12.2 Non-Compliance Assessments 150

2 Licensing and Numerics Management 157

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2.1 Membership 157

2.1.1 Member Acquisitions and Mergers 157

2.1.2 Acquirer Licensing 158

2.1.4 Changes to Member Information or Status 159

2.3 BIN and Acquiring Identifier License and Administration 160

2.3.1 BIN and Acquiring Identifier Use and License 160

2.3.2 Administration of BINs, Acquiring Identifiers, and Numerics 162

2.3.3 Account Range and BIN Use 164

2.3.4 Use and Disclosure of BIN Information 164

2.4 Marks License 165

2.4.1 Marks License Grant 165

2.5 Visa US Regulation II Certification Program 166

2.5.1 Visa US Regulation II Certification Program – US Region and US Territories 166

2.6 Product-Specific BIN Requirements 166

2.6.1 Visa Consumer Products 166

2.7 Client Portfolio Management Self-Service Tools 167

2.7.1 Client Portfolio Management Self-Service Tools Requirements 167

2.8 Non-Visa BINs and Acquiring Identifiers 168

2.8.1 Non-Visa-Assigned BINs and Acquiring Identifiers 168

2.9 EU Passporting 168

2.9.1 EU Passporting – Europe Region 168

3 Use of Marks 170

3.1 Marks License 170

3.1.1 Affinity/Co-Branded Card Programs 170

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3.1.2 Marks License Grant 171

3.1.3 Sponsorships and Partnerships, Including the Olympics 171

3.2 Use of Marks 172

3.2.1 Use of Marks by Members and Merchants 172

3.2.2 Use of Marks in Promotions, Advertisements, and Solicitations 173

3.2.3 Use of Marks on Cards 174

3.3 Other Card Requirements 176

3.3.1 Magnetic-Stripe Encoding 176

3.4 Point-of-Transaction Display of Marks 177

3.4.1 Display of Marks at the Point of Sale 177

4 Issuance 178

4.1 General Issuance 178

4.1.1 General Issuer Requirements 178

4.1.2 Visa Credit Card Issuance 185

4.1.3 Visa Charge Card Issuance 188

4.1.4 Debit Card Issuance 189

4.1.6 Affinity/Co-Brand and Global Co-Brand Issuance 190

4.1.7 Card Production Standards 194

4.1.8 Virtual Accounts 195

4.1.9 Issuer Disclosures 196

4.1.11 PIN Requirements 200

4.1.12 Data Retention and Transmission 201

4.1.13 Provisional Credit/Zero Liability 202

4.1.14 Issuer Requirements for Emergency Service Provision 206

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4.1.15 Insurance/Benefits 210

4.1.16 Click to Pay 212

4.1.17 Visa Token Service 214

4.1.18 Visa Digital Enablement Program 221

4.1.19 Chip Issuance Requirements 223

4.1.20 Pass-Through Digital Wallet Requirements 244

4.1.21 Payment Solution Providers 245

4.1.22 Card Personalization – Europe Region 247

4.1.23 Visa Mobile 247

4.2 Visa Electron 247

4.2.1 Visa Electron Issuer Requirements 247

4.3 Visa Check Card 248

4.3.1 Visa Check Card – Issuer Requirements 248

4.3.2 Secured Card – Issuer Requirements 249

4.4 Visa Gold 250

4.4.2 Visa Gold – Issuer Requirements 250

4.4.3 Visa Gold – Features and Benefits 251

4.5 Visa Platinum 253

4.5.1 Visa Platinum – Card Requirements 253

4.5.2 Visa Platinum – Customer Service Requirements 253

4.5.3 Visa Platinum – Issuer Requirements 253

4.5.4 Visa Platinum – Features and Benefits 254

4.5.5 Visa Platinum Prepaid – Issuer Requirements 255

4.6 Visa Rewards 256

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4.6.3 Visa Rewards – Features and Benefits 256

4.6.4 Visa Traditional Rewards – Issuer Requirements 257

4.6.5 Visa Traditional Rewards – Features and Benefits 258

4.8 Visa Signature 258

4.8.1 Visa Signature and Visa Signature Preferred – Card Requirements 258

4.8.2 Visa Signature and Visa Signature Preferred – Customer Service Requirements 259

4.8.3 Visa Signature and Visa Signature Preferred – Issuer Requirements 259

4.8.4 Visa Signature and Visa Signature Preferred – Features and Benefits 260

4.9 Visa Infinite 261

4.9.1 Visa Infinite/Visa Infinite Privilege – Card Requirements 261

4.9.2 Visa Infinite/Visa Infinite Privilege – Customer Service Requirements 262

4.9.3 Visa Infinite/Visa Infinite Privilege – Issuer Requirements 262

4.9.4 Visa Infinite/Visa Infinite Privilege – Features and Benefits 264

4.11 Campus Cards 266

4.11.1 Campus Card – Issuer Requirements 266

4.12 Prepaid 267

4.12.1 Prepaid – Issuer Requirements 267

4.12.5 Prepaid – Distribution of Cards Outside the Country of Issuance 270

4.12.6 Prepaid – Authorization Services/Funds Access 271

4.12.7 Prepaid – Partners 271

4.12.10 Prepaid – Visa TravelMoney 271

4.12.11 Prepaid – Visa Buxx 273

4.12.13 Prepaid – Employee Benefits/Healthcare 274

4.12.14 Prepaid – Visa Mobile 275

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4.12.15 Prepaid – Payroll/Salary 278

4.12.16 Prepaid – Visa Vale 279

4.13 Visa Commercial Card Products 279

4.13.1 Visa Commercial Card Issuance 279

4.13.2 Visa Commercial Card Data Management and Reporting 288

4.13.3 V Distribution Program 291

4.13.4 Visa Commercial Choice Travel Program and Visa Commercial Choice Omni

Program 292

4.14 Visa Small Business Product-Specific Issuance 294

4.14.1 Visa Business – Card Requirements 294

4.14.3 Visa Business – Issuer Requirements 296

4.14.4 Visa Business – Features and Benefits 296

4.16 Visa Platinum Business 299

4.16.1 Visa Platinum Business – Card Requirements 299

4.16.2 Visa Platinum – Customer Service Requirements 300

4.16.3 Visa Platinum Business – Issuer Requirements 301

4.16.4 Visa Platinum Business – Features and Benefits 302

4.17 Visa Signature Business 304

4.17.1 Visa Signature Business – Card Requirements 304

4.17.2 Visa Signature Business – Customer Service Requirements 305

4.17.3 Visa Signature Business – Issuer Requirements 306

4.17.4 Visa Signature Business – Features and Benefits 307

4.18 Visa Infinite Business, Visa Infinite Privilege Business 307

4.18.1 Visa Infinite Business, Visa Infinite Privilege Business – Card Requirements 307

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4.18.2 Visa Infinite Business, Visa Infinite Privilege Business – Customer Service

Requirements 308

4.18.3 Visa Infinite Business, Visa Infinite Privilege Business – Issuer Requirements 310

4.18.4 Visa Infinite Business, Visa Infinite Privilege Business – Features and Benefits 313

4.19 Visa Multi-Currency Solution 315

4.19.1 Visa Multi-Currency Solution Issuer Requirements 315

4.20 Visa SavingsEdge – US Region 316

4.20.1 Visa SavingsEdge Requirements – US Region 316

4.21 Visa Purchasing 317

4.21.1 Visa Purchasing – Issuer Requirements 317

4.22 Visa Fleet 318

4.22.1 Visa Fleet Card – Issuer Requirements 318

4.22.2 Visa Fleet Merchant Discount Program 319

4.23 Visa Large Purchase Advantage – US Region 321

4.23.1 Visa Large Purchase Advantage Requirements – US Region 321

4.24 Visa Meetings Card 322

4.24.1 Visa Meetings Card – Issuer Requirements 322

4.25 Visa Infinite Corporate – LAC Region 323

4.25.1 Visa Infinite Corporate Card Requirements – LAC Region 323

4.25.2 Visa Infinite Corporate – Issuer Requirements – LAC Region 323

4.25.3 Visa Infinite Corporate – Features and Benefits – LAC Region 324

4.26 Visa Platinum Corporate – LAC Region 325

4.26.1 Visa Platinum Corporate – Card Requirements – LAC Region 325

4.26.2 Visa Platinum Corporate Issuer Requirements – LAC Region 325

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4.26.3 Visa Platinum Corporate Features and Benefits – LAC Region 326

4.27 Visa Premium Corporate – LAC Region 326

4.27.1 Visa Premium Corporate – Issuer Requirements – LAC Region 326

4.28 Visa Signature Corporate – LAC Region 331

4.28.1 Visa Signature Corporate Issuer Requirements – LAC Region 331

4.29 Commercial Prepaid 332

4.29.1 Commercial Prepaid – Card Requirements 332

4.29.2 Corporate Prepaid – Features and Benefits 332

4.29.3 Business Prepaid – Features and Benefits 332

4.30 Visa Agro – LAC Region 333

4.30.1 Visa Agro – Card Requirements – LAC Region 333

4.30.2 Visa Agro – Customer Service Requirements – LAC Region 334

4.30.3 Visa Agro – Issuer Requirements – LAC Region 334

4.31 Visa Cargo – LAC Region 334

4.31.1 Visa Cargo Card Requirements – LAC Region 334

4.32 Visa Drive Card – Europe Region 335

4.32.1 Visa Drive Card – Europe Region 335

4.33 Visa SimplyOne – Europe Region 337

4.33.1 Visa SimplyOne Card – Europe Region 337

4.34 Visa Multichoice – Europe Region 338

4.34.1 Visa Multichoice Card – Europe Region 338

4.35 Carte Bleue Nationale Cards – Europe Region 339

4.35.1 Carte Bleue Nationale Cards Issuer Requirements – Europe Region (France) 339

4.36 Carte Bleue Nationale Affaires Cards – Europe Region (France) 340

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4.36.1 Carte Bleue Nationale Affaires Cards Issuer Requirements – Europe Region (France) 340

4.37 Visa Installment Credential 342

4.37.1 Visa Installment Credential – Issuer Requirements 342

4.38 Visa Infinite Business – CEMEA Region 346

4.38.1 Visa Infinite Business – Card Requirements – CEMEA Region 346

4.38.2 Visa Infinite Business – Customer Service Requirements – CEMEA Region 346

4.38.3 Visa Infinite Business – Issuer Requirements – CEMEA Region 346

4.38.4 Visa Infinite Business – Features and Benefits – CEMEA Region 347

5 Acceptance 349

5.1 Responsibilities Related to Information and Notification 349

5.1.1 Provision of Information, Registration, and Reporting 349

5.2 Acquirer Responsibilities Related to Merchants 350

5.2.1 Merchant Agreements, Merchant Onboarding, and Merchant Relationships 350

5.2.2 Acquirer and Payment Facilitator Responsibilities Related to Deposit Accounts 356

5.3 Payment Facilitators, Digital Wallet Operators, and Marketplaces 357

5.3.1 Acquirer Responsibilities and Liabilities in Marketplace, Payment Facilitator, and

Digital Wallet Operator Agreements 357

5.3.2 Payment Facilitator, Digital Wallet Operator, Marketplace, Ramp Provider

Responsibilities and Requirements 363

5.3.3 Digital Wallet Operators 367

5.3.4 Acquirer Responsibility for Marketplaces 369

5.3.5 Ramp Provider Acquirer Requirements 373

5.4 Merchant and Cardholder Interaction 375

5.4.1 Honoring Cards 375

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5.4.2 Conditions of Card Acceptance and Cardholder Rights 375

5.4.3 Merchant Use of Cardholder Account Information 377

5.5 Surcharges, Convenience Fees, and Service Fees 379

5.5.1 Surcharges – Allowances, Requirements, Restrictions, Amounts, and Disclosures 379

5.5.2 Convenience Fees – Allowances, Requirements, Restrictions, Amounts, and

Disclosures 387

5.5.3 Service Fees – Allowances, Requirements, Restrictions, Amounts, and Disclosures 388

5.6 Acceptance Devices 392

5.6.1 Acceptance Device Requirements – All Devices 392

5.6.2 Chip-Reading Device Requirements 400

5.6.3 Tap to Phone Solution 404

5.6.4 Unattended Cardholder-Activated Terminals – Transaction Cancellation 405

5.7 Merchant Authorization Requirements 405

5.7.2 Transaction Amount-Related Authorization Requirements 405

5.7.3 Non-Standard Authorizations 405

5.7.4 Merchant Authorization Processing 410

5.8 Specific Acceptance Environments and Procedures 418

5.8.1 Cash, Cash Equivalents, and Prepaid 418

5.8.2 Chip 431

5.8.3 QR Code 434

5.8.4 Electronic Commerce 435

5.8.5 Visa Digital Commerce 445

5.8.6 Mail/Phone Order Transactions 447

5.8.7 Aggregated Transactions 447

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5.8.8 T&E and Rental Transactions 448

5.8.9 Dynamic Currency Conversion 454

5.8.10 Visa Installment Solutions (VIS) 455

5.8.11 Advance Payments and Repeated Payments 456

5.8.12 Visa Easy Payment Service (VEPS) Transactions 463

5.8.13 Debt Repayment 470

5.8.14 Healthcare/Workplace Benefits 471

5.8.15 Visa Fleet Card 473

5.8.17 Up-Selling and Negative Option Merchants 473

5.8.18 Gambling 477

5.8.19 Mobility and Transport 479

5.8.20 Staged Digital Wallets and Stored Value Digital Wallets 480

5.8.21 Visa Rent Payment Program – US Region 480

5.8.22 Multi-Currency Pricing 481

5.8.23 Collection Requirements for a Debt or an Overdue Receivable Transaction 482

5.9 Transaction Receipt Requirements 483

5.9.1 Transaction Receipt Delivery to Cardholders 483

5.9.2 Transaction Receipt Data and Format Requirements 485

5.10 Returns, Credits, and Refunds 493

5.10.1 Merchant Processing 493

5.11 Acquirer Requirements for Non-Visa General Purpose Payment Network – LAC Region

(Brazil) 494

5.12 Payment Solution Providers 495

5.12.1 Acquirer Requirements for Consumer Bill Payment Service Providers 495

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5.12.2 Acquirer Responsibilities Related to Business Payment Solution Providers 503

6 ATM 508

6.1 Plus Program 508

6.1.1 Plus Program Issuer Participation Requirements 508

6.1.2 Plus Symbol 508

6.2 Visa Global ATM Network 509

6.2.1 Visa Global ATM Network Issuer Participation Requirements 509

6.2.2 Visa Global ATM Network Issuer General Requirements 509

6.2.3 Visa Global ATM Network Acquirer Participation Requirements 510

6.2.4 ATM Operator and Agent Requirements 511

6.2.6 ATM Processing Requirements 512

6.3 ATM Optional Services 516

6.3.1 ATM Optional Services Issuer Participation 516

6.3.2 ATM Optional Services Acquirer Participation 517

6.3.3 ATM Deposit Service 518

6.3.4 Return Foreign Currency Service 521

6.4 ATM Fees 522

6.4.1 ATM Access Fees 522

6.4.2 ATM Travelers Cheque Fee 524

7 Transaction Processing 525

7.1 VisaNet Systems Use 525

7.1.1 Use of VisaNet 525

7.2 Access to Visa Systems 527

7.2.1 Visa Extended Access 527

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7.2.2 Clearing Processors 529

7.2.3 Application Programming Interface Usage – Europe Region 529

7.3 Authorization 530

7.3.1 Authorization Routing 530

7.3.2 Authorization Service Participation 530

7.3.3 Member Provision of Authorization Services 531

7.3.4 Authorization Response Time Limits 532

7.3.5 Use of Visa Account Screen 533

7.3.6 Declines 533

7.3.7 Authorization Reversals and Authorization Holds 537

7.3.8 Visa Debit with PIN – US Region 537

7.3.9 Partial Authorization 537

7.3.11 Account Verification 545

7.3.12 Member Reporting Requirements – Europe Region 547

7.3.13 Visa Alias Directory Service – Europe Region 547

7.4 Processing of Specific Transaction Types 548

7.4.1 Account Funding Transactions 548

7.4.2 Manual Cash Disbursements 549

7.4.3 Automated Fuel Dispenser Transactions 549

7.4.4 Bill Payment Transactions 550

7.4.6 Online Gambling Transactions 551

7.4.7 Staged Digital Wallets and Stored Value Digital Wallets 551

7.4.8 Commercial Payables Transactions 557

7.4.9 Card-Absent Environment Transactions 558

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7.4.10 Visa Purchasing Card Transactions 558

7.4.11 Visa Fleet Card Transactions 558

7.4.12 Visa Commercial Card Transactions 559

7.4.13 Visa Drive Card Transactions – Europe Region 560

7.4.14 In-Transit Transactions – Europe Region 561

7.4.15 Authorization Request Content – Europe Region (United Kingdom) 561

7.4.16 Transactions Involving Cryptocurrency 562

7.4.17 Processing of Visa Scheme Transactions 565

7.5 Clearing 565

7.5.1 File Processing 565

7.5.2 Currency Conversion 566

7.5.3 PIN-Authenticated Visa Debit Adjustments – US Region 566

7.5.4 Reversals 567

7.5.5 Data Requirements 567

7.5.6 Clearing and Reversal Processing 568

7.6 Transaction Processing Time Limits and Dates 569

7.6.1 Processing Time Limits 569

7.7 Settlement 571

7.7.2 National Net Settlement Service (NNSS) Requirements 571

7.7.3 Settlement Requirements – AP Region 571

7.7.4 Settlement Requirements – Europe Region 572

7.7.6 Settlement Requirements – US Region 574

7.7.7 Member Readiness for Settlement 575

7.8 System Use – Europe Region 575

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7.8.1 Default Infrastructure – Europe Region 575

7.9 Authorization and Clearing Transaction Content 575

7.9.1 Transaction Message Content 575

7.9.2 Stop Payment Service 576

7.10 Strong Customer Authentication – Europe Region 576

7.10.1 Strong Customer Authentication – General Requirements 576

7.10.2 Delegated Authentication Program – Europe Region 577

7.11 Visa Digital Authentication Framework 578

7.11.1 Visa Digital Authentication Framework Requirements 578

8 Processing Products 580

8.1 Use of Visa Systems 580

8.1.1 VisaNet Access Points 580

8.1.2 Direct Connection to VisaNet 581

8.1.3 System Changes 581

8.2 Cardholder Loyalty Programs 582

8.2.1 Visa Loyalty Platform Services 582

8.2.2 Card Linked Offers – EuropeRegion 582

8.3 Visa Information Systems 584

8.3.1 Visa Online 584

8.3.2 Visa Analytics Platform 584

8.4 Original Credit Transactions 584

8.4.1 Original Credit Transactions – Originating Requirements 584

8.4.2 Original Credit Transactions – Recipient Issuer Requirements 586

8.4.4 Original Credit Transactions – Fast Funds 587

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8.5 Mobile Push Payment Transactions 588

8.5.1 Mobile Push Payment Transactions – Issuer Requirements 588

8.6 Visa Processing Services 589

8.6.1 Visa Account Updater 589

8.6.2 Visa Payment Controls 593

8.6.3 Straight Through Processing 593

8.7 Visa Software 593

8.7.1 Software License 593

8.8 Visa Innovation Center 594

8.8.1 Center Engagement 594

9 Interchange 597

10 Risk 598

10.1 Corporate Risk Reduction 598

10.1.1 Acquirer Risk Responsibilities 598

10.1.2 Electronic Commerce Merchant Requirements 598

10.1.3 Anti-Money Laundering 600

10.1.4 Blocking of BINs and Acquiring Identifiers 601

10.1.5 Crisis Management and Business Continuity – EuropeRegion 602

10.2 Agents and Processors 602

10.2.1 Member Requirements Related to VisaNet Processors and Visa Scheme Processors 602

10.2.2 Member Requirements Related to Third Party Agents 609

10.2.3 Member Requirements Related to Third Parties – Europe Region 615

10.2.4 Independent Sales Organizations – Europe Region 615

10.3 Account and Transaction Information Security 616

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10.3.1 Account, Cardholder, and Transaction Information Security 616

10.3.2 Confidential Consumer Cardholder Information 618

10.3.3 Data Protection 619

10.4 Activity and Compliance Monitoring 625

10.4.1 Member Activity Monitoring Requirements 625

10.4.2 Monitoring of Visa Compliance 629

10.4.3 Dispute Monitoring 629

10.4.4 Acquirer Dispute and Fraud Monitoring 635

10.4.5 Merchant Fraud Monitoring 639

10.4.6 High-Integrity Risk Activity 647

10.4.7 High-Risk Internet Payment Facilitator Requirements 648

10.4.8 Issuer Fraud Monitoring 649

10.5 Integrity Risk 651

10.5.1 Visa Integrity Risk 651

10.6 Fraud Reporting 652

10.6.1 Fraud Reporting Requirements 652

10.7 Card Recovery 654

10.7.1 Card Recovery at the Point of Sale 654

10.7.2 Card Recovery Bulletin (CRB) 657

10.8 Lost or Stolen Cards 658

10.8.1 Lost or Stolen Card Reporting 658

10.9 PIN Security Requirements 658

10.9.1 PIN Requirements 658

10.10 Account Data Compromise 659

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10.10.1 Global Compromised Account Recovery (GCAR) Program 659

10.11 Terminated Merchants 659

10.11.1 Retention of Merchant Records 659

10.11.2 Required Use of Terminated Merchant Database 659

10.12 Visa Risk Products 662

10.12.1 Address Verification Service (AVS) 662

10.12.2 Account Name Inquiry 664

10.12.3 Card Verification Value (CVV) and Card Verification Value 2 (CVV2) 665

10.12.4 Visa Risk Based Authentication Score 669

10.12.5 Visa Provisioning Intelligence 670

10.13 Advanced Authorization 670

10.13.1 Visa Advanced Authorization 670

10.14 Transaction Alerts 671

10.14.1 Transaction Alerts Requirements 671

10.15 National Card Recovery File 671

10.15.1 National Card Recovery File – US Region 671

10.16 Visa Secure 672

10.16.1 Visa Secure General Participation Requirements 672

10.16.2 Visa Secure Issuer Participation Requirements 672

10.16.3 Visa Secure Acquirer and Merchant Participation Requirements 677

10.16.4 Use of Visa Authentication Technology 678

10.17 Credit Bureau Reporting 679

10.17.1 Credit Bureau Reporting – US Region 679

10.18 Visa Merchant Screening Service 680

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10.18.1 Visa Merchant Screening Service – AP, CEMEA, and Europe Regions 680

10.19 Fraud Detection Systems 681

10.19.1 Fraud Detection Systems – Europe Region 681

10.20 Prepaid 682

10.20.1 Agent Use/Risk Controls 682

11 Dispute Resolution 683

11.1 Responsibilities for Dispute Resolution 683

11.1.1 Mutual Assistance Between Members 683

11.1.2 Issuer Responsibilities to Cardholders for Dispute Resolution 683

11.1.3 Visa Right to Grant Exceptions to Dispute Processing Requirements 683

11.2 Dispute Resolution General Requirements 684

11.2.1 Dispute Resolution Process General Requirements 684

11.2.2 Dispute Resolution Process – Dispute Category 10 (Fraud) and 11 (Authorization) 684

11.2.3 Dispute Resolution Process – Dispute Category 12 (Processing Errors) and 13

(Consumer Disputes) 687

11.3 Use of Visa Systems 689

11.3.1 Use of Visa Systems for Dispute Processing 689

11.3.2 Transaction Processing Requirements 689

11.3.3 Reversal of a Dispute 690

11.4 Dispute Amount 690

11.4.1 Dispute and Dispute Response Amount General Requirements 690

11.4.2 Currency Conversion Difference 691

11.4.3 Minimum Dispute Amounts 691

11.5 Dispute Rights and Restrictions 692

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11.5.1 Prohibition of Multiple Transactions in a Dispute 692

11.5.2 Use of Compelling Evidence 692

11.6 Dispute Categories and Conditions 698

11.6.1 Dispute Categories Table Format 698

11.7 Dispute Category 10: Fraud 699

11.7.1 Dispute Category 10: Cardholder Letter or Certification Requirements 699

11.7.2 Dispute Condition 10.1: EMV Liability Shift Counterfeit Fraud 700

11.7.3 Dispute Condition 10.2: EMV Liability Shift – Non-Counterfeit Fraud 704

11.7.4 Dispute Condition 10.3: Other Fraud – Card-Present Environment 708

11.7.5 Dispute Condition 10.4: Other Fraud – Card-Absent Environment 712

11.7.6 Dispute Condition 10.5: Visa Fraud Monitoring Program 718

11.8 Dispute Category 11: Authorization 720

11.8.1 Dispute Condition 11.1: Card Recovery Bulletin 720

11.8.2 Dispute Condition 11.2: Declined Authorization 722

11.8.3 Dispute Condition 11.3: No Authorization/Late Presentment 725

11.9 Dispute Category 12: Processing Errors 733

11.9.1 Dispute Condition 12.1: Late Presentment 733

11.9.2 Dispute Condition 12.2: Incorrect Transaction Code 737

11.9.3 Dispute Condition 12.3: Incorrect Currency 740

11.9.4 Dispute Condition 12.4: Incorrect Account Number 744

11.9.5 Dispute Condition 12.5: Incorrect Amount 747

11.9.6 Dispute Condition 12.6: Duplicate Processing/Paid by Other Means 750

11.9.7 Dispute Condition 12.7: Invalid Data 754

11.10 Dispute Category 13: Consumer Disputes 757

Contents

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11.10.1 Dispute Category 13: Cardholder Letter Requirements 757

11.10.2 Dispute Condition 13.1: Merchandise/Services Not Received 758

11.10.3 Dispute Condition 13.2: Cancelled Recurring Transaction 766

11.10.4 Dispute Condition 13.3: Not as Described or Defective Merchandise/Services 769

11.10.5 Dispute Condition 13.4: Counterfeit Merchandise 776

11.10.6 Dispute Condition 13.5: Misrepresentation 780

11.10.7 Dispute Condition 13.6: Credit Not Processed 785

11.10.8 Dispute Condition 13.7: Cancelled Merchandise/Services 788

11.10.9 Dispute Condition 13.8: Original Credit Transaction Not Accepted 795

11.10.10 Dispute Condition 13.9: Non-Receipt of Cash at an ATM 797

11.11 Arbitration 800

11.11.1 Required Documentation for Arbitration 800

11.12 Compliance 801

11.12.1 Compliance Filing Conditions 801

11.12.2 Compliance Time Limits 801

11.12.3 Compliance Conditions and Required Documentation 803

11.12.4 Compliance Right for Improperly Assessed Surcharge – Canada, US Region, and

US Territories 808

11.12.5 Data Compromise Recovery 809

11.13 Arbitration and Compliance Decision 809

11.13.1 Arbitration and Compliance Filing Authority 809

11.13.2 Use of V.I.P. System Authorization Records in Arbitration and Compliance 809

11.13.3 Withdrawal of an Arbitration or Compliance Case 810

11.13.4 Conditions for an Appeal to the Arbitration and Compliance Committee 810

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11.13.5 Appeal Time Limit 810

11.13.6 Appeal Review Fee 810

12 Fees and Non-Compliance Assessments 811

12.2 Issuance Non-Compliance Assessments 811

12.2.1 Fraud Activity Reporting Non-Compliance Assessments 811

12.3 Acceptance Non-Compliance Assessments 814

12.3.1 High-Risk Internet Payment Facilitator Non-Compliance Assessments 814

12.3.2 Chip Card Non-Compliance Assessments 814

12.3.3 Marketplace Non-Compliance Assessments 815

12.3.4 Mobility and Transport Non-Compliance Assessments 815

12.3.5 Dynamic Currency Conversion (DCC) 816

12.3.6 Consumer Choice 816

12.6 Risk Non-Compliance Assessments 816

12.6.1 Account and Transaction Information Security Non-Compliance Assessments 816

12.6.2 Anti-Money Laundering Program Non-Compliance Assessments 819

12.6.3 Authentication Non-Compliance Assessments 819

12.6.4 Visa Monitoring Program Non-Compliance Assessments 819

12.6.5 Dispute Monitoring Fees and Non-Compliance Assessments 821

12.6.6 High-Risk/High-Integrity Risk Acquirer Non-Compliance Assessments 824

12.6.7 Fraud Monitoring and Reporting Non-Compliance Assessments 824

12.6.10 Non-Compliance Assessments Related to Agents 825

12.7 Fees – General 827

12.7.1 Global Compromised Account Recovery (GCAR) Fees 827

12.8 Member-to-Member Fees 827

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13 April 2024 Visa Public 26

12.8.1 Automated Clearing House Service 827

12.8.2 Member-to-Member Fee Collection and Funds Disbursement 829

12.8.3 Investigative Services Fees 831

12.8.4 Rewards for Recovered Cards 831

Appendix A 834

Visa Supplemental Requirements 834

Glossary 844

Contents

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13 April 2024 Visa Public 27

Tables

Table 1-1: Asia-Pacific Region 69

Table 1-2: Canada Region 70

Table 1-3: Central and Eastern Europe, Middle East and Africa Region 70

Table 1-4: Europe Region 70

Table 1-5: Latin America and Caribbean Region 71

Table 1-6: US Region 71

Table 1-7: Permitted Cross-Border Acquiring (Canada Region and USRegion) 102

Table 1-8: Allowed Merchant Outlet Locations for Card-Present Transactions 103

Table 1-9: Allowed Additional Merchant Outlet Locations for Card-Absent Transactions 104

Table 1-10: Payment to Merchants, Sponsored Merchants, or Retailers Accounts – Brazil 121

Table 1-11: EMV Liability Shift Participation 148

Table 1-12: General Schedule of Non-Compliance Assessments – Tier 1 152

Table 1-13: General Schedule of Non-Compliance Assessments – Tier 2 152

Table 1-14: Non-Compliance Assessments for Significant Violations of the Visa Rules 155

Table 2-1: Regulatory Closure – Assuming Member Requirements 157

Table 3-1: Specific Marks Requirements – US Region and US Territories 175

Table 4-1: Product Category Identification – Europe Region 181

Table 4-2: Marketing Materials Approvals for Visa Products 183

Table 4-3: Visa Consumer Product Core Card Benefits – LAC Region 185

Table 4-4: Provision of Provisional Credit 202

Table 4-5: Provision of Emergency Cash Disbursements to Cardholders 207

Table 4-6: Provision of Emergency Card Replacements to Cardholders 208

Tables

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Table 4-7: Provision of Emergency Services to Cardholders 209

Table 4-8: Cardholder Benefits by Product Type – Canada Region 210

Table 4-9: Click to Pay Issuer Adoption Timeframe – CEMEA Region and Europe Region 212

Table 4-10: Visa Token Service Enablement and Digital Credential Updates – AP Region,

CEMEA Region, Europe Region, LAC Region, and US Region 214

Table 4-11: Contactless Payment Device Issuer Requirements 226

Table 4-12: Contactless Payment Device Issuer Requirements – Europe Region 227

Table 4-13: CVM Requirements for Contactless Payment Devices – AP Region and CEMEA

Region 230

Table 4-14: Domestic Contactless Transaction Offline Authorization Limits – AP Region 231

Table 4-15: Contactless Payment Device Issuance Requirements – AP Region, Canada

Region, CEMEA Region, Europe Region, and LAC Region 239

Table 4-16: Bill Payment Providers – Corresponding Card Products 246

Table 4-17: Visa Gold Card Product Requirements – AP Region (Japan) 251

Table 4-18: Visa Gold Product Minimum Level of Cardholder Rewards and Benefits (Option

1) – AP Region (Japan) 251

Table 4-19: Visa Gold Product Minimum Level of Cardholder Rewards and Benefits (Option

2) – AP Region (Japan) 252

Table 4-20: Visa Rewards Product Benefits – AP Region (Australia) 256

Table 4-21: Visa Commercial Card Core Features 281

Table 4-22: Visa Commercial Card Mandatory Core Services 285

Table 4-23: Visa Business Card Core Benefits – LAC Region 296

Table 4-24: Visa Business Card Core Benefits – LAC Region (Puerto Rico, U.S. Virgin Islands) 298

Table 4-25: Visa Multi-Currency Solution – Cardholder Disclosure Requirements 316

Table 4-26: Visa Premium Corporate Card Core Product Benefits – LAC Region 326

Tables

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Table 4-27: Visa Premium Corporate Card Core Product Benefits – LAC Region (Puerto

Rico, U.S. Virgin Islands) 327

Table 4-28: Corrective Actions for Issuer Failure to Meet Performance Standards for Visa

Premium Corporate Cards – LAC Region 330

Table 4-29: Visa Drive Card Requirements – Europe Region 335

Table 4-30: Service Requirements for France Domestic Transactions using Carte Bleue

Nationale Cards 339

Table 4-31: Service Requirements for France Domestic Transactions using Carte Bleue

Nationale Affaires Cards 341

Table 4-32: Visa Installment Credential – Region/Country/Territory-Specific Product and

Threshold Requirements 344

Table 4-33: VisaInstallment Credential Product Minimum Level of Cardholder Rewards 345

Table 5-1: Allowed Additional Marketplace Locations 364

Table 5-2: Surcharge Disclosure– AP Region (Australia) 381

Table 5-3: Surcharge Disclosure – Canada Region, US Region, and US Territories 386

Table 5-4: Convenience Fee Requirements 388

Table 5-5: Service Fee Assessment Permitted MCCs 389

Table 5-6: Service Fee Assessment Exceptions 391

Table 5-7: Acceptance Device Requirements 392

Table 5-8: Conditions for Deployment of Contactless-Only Acceptance Devices 401

Table 5-9: Authorization Amounts for specific MCCs 408

Table 5-10: Status Check Authorizations at AFDs 409

Table 5-11: Maximum Amount Initial Authorizations at AFDs 409

Table 5-12: Approval Response Validity Periods 412

Table 5-13: General Approval Response Validity Timeframes 414

Tables

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Table 5-14: Country-Specific Approval Response Validity Timeframe Requirements 416

Table 5-15: Authorization Reversal Requirement 417

Table 5-16: Cash-Back Requirements 419

Table 5-17: Acquirer Support of Visa Secureby Region/Country/Territory – Requirements 437

Table 5-18: Conditions for Amended Amounts and Delayed Charges 450

Table 5-19: General Requirements for Partial Payments, Advance Payments, and

Transactions Using Stored Credentials 456

Table 5-20: Transaction-Specific Requirements for Partial Payments, Advance Payments,

and Transactions Using Stored Credentials 458

Table 5-21: Processing Requirements for Transactions Using Stored Credentials 461

Table 5-22: Eligible Countries and MCCs for VEPS Transactions 463

Table 5-23: VEPS Maximum Transaction Amounts – APRegion 464

Table 5-24: VEPS Maximum Transaction Amounts – CanadaRegion 464

Table 5-25: VEPS Maximum Transaction Amounts – CEMEA Region 465

Table 5-26: VEPS Maximum Transaction Amounts – Europe Region 467

Table 5-27: VEPS Maximum Transaction Amounts – LAC Region 468

Table 5-28: Debt Repayment Transaction Requirements 470

Table 5-29: Required Disclosure/Transaction Receipt/Notification Content and Format for

Up-Selling Transactions 474

Table 5-30: Required Disclosure/Transaction Receipt/Notification Content and Format for

Negative Option Transactions 476

Table 5-31: Transaction Receipt Delivery to Cardholders 483

Table 5-32: Required Transaction Receipt Content for All Transactions 486

Table 5-33: Required Transaction Receipt Content for Specific Transactions 488

Table 5-34: Consumer Bill Payment Service Provider – Allowed MCCs 497

Tables

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13 April 2024 Visa Public 31

Table 6-1: Acquirer and ATM Requirements for ATM Access Fees 523

Table 7-1: Maximum Time Limits for Authorization Request Response 532

Table 7-2: Decline Response Code Use 534

Table 7-3: Acquirer Participation in the Partial Authorization Service 538

Table 7-4: Issuer Participation in the Partial Authorization Service 542

Table 7-5: Required Partial Authorization Service Merchant Participation 543

Table 7-6: Visa Alias Directory Service Adoption Timeframe 547

Table 7-7: Automated Fuel Dispenser Transactions – Maximum Allowed Amounts 550

Table 7-8: Transaction Processing Requirements for Staged Digital Wallets and Stored

Value Digital Wallets 551

Table 7-9: Non-Fiat Currency and Non-Fungible Token (NFT) Transaction Coding 563

Table 7-10: Permitted Variations between the Authorization Amount and the Clearing

Amount 568

Table 7-11: Acquirer Processing Timeframe Requirements 569

Table 7-12: Visa Digital Authentication Framework Participation 578

Table 8-1: Fast Funds Processing Requirements 587

Table 8-2: Required Electronic Transaction Receipt Content for Mobile Push Payment

Transactions 589

Table 8-3: VAU Enrollment Requirements – AP Region, Canada Region, CEMEA Region,

Europe Region, USRegion 590

Table 8-4: VAU Issuer Update Requirements 592

Table 10-1: Merchant Deposit Monitoring Parameters – Europe Region 627

Table 10-2: VDMP Standard Program Timeline 631

Table 10-3: VDMP High-Risk Program Timeline 632

Table 10-4: VAMP Timeline for Card-Absent Environment Disputes or Card-Absent

636

Tables

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13 April 2024 Visa Public 32

Environment Fraud Activity

Table 10-5: VAMP Timeline for Enumeration Attacks 637

Table 10-6: VFMP Standard Timeline 641

Table 10-7: VFMP High-Risk/Excessive Timeline 644

Table 10-8: VIMP Timeline 650

Table 10-9: Region/Country/Territory-Specific Visa Secure Issuer Participation

Requirements 674

Table 11-1: Dispute Resolution Process Steps – Category 10 (Fraud) and Category 11

(Authorization) 684

Table 11-2: Dispute Resolution Process Steps – Category 12 (Processing Errors) and

Category 13 (Consumer Disputes) 687

Table 11-3: Financial Message Types – Category 10 (Fraud) and Category 11

(Authorization) 689

Table 11-4: Financial Message Types – Category 12 (Processing Errors) and Category 13

(Consumer Disputes) 690

Table 11-5: Minimum Dispute Amount 691

Table 11-6: Allowable Compelling Evidence 693

Table 11-7: Dispute Country/Region Descriptions 698

Table 11-8: Dispute Condition 10.1: EMV Liability Shift Counterfeit Fraud – Dispute Reasons 700

Table 11-9: Dispute Condition 10.1: EMV Liability Shift Counterfeit Fraud – Dispute Rights 701

Table 11-10: Dispute Condition 10.1: EMV Liability Shift Counterfeit Fraud – Invalid

Disputes 701

Table 11-11: Dispute Condition 10.1: EMV Liability Shift Counterfeit Fraud – Dispute Time

Limit 702

Table 11-12: Dispute Condition 10.1: EMV Liability Shift Counterfeit Fraud – Dispute

Processing Requirements 702

Tables

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13 April 2024 Visa Public 33

Table 11-13: Dispute Condition 10.1: EMV Liability Shift Counterfeit Fraud – Pre-Arbitration

Processing Requirements 703

Table 11-14: Dispute Condition 10.2: EMV Liability Shift Non-Counterfeit Fraud – Dispute

Reasons 704

Table 11-15: Dispute Condition 10.2: EMV Liability Shift Non-Counterfeit Fraud – Dispute

Rights 705

Table 11-16: Dispute Condition 10.2: EMV Liability Shift Non-Counterfeit Fraud – Invalid

Disputes 705

Table 11-17: Dispute Condition 10.2: EMV Liability Shift Non-Counterfeit Fraud – Dispute

Time Limit 706

Table 11-18: Dispute Condition 10.2: EMV Liability Shift Non-Counterfeit Fraud – Dispute

Processing Requirements 707

Table 11-19: Dispute Condition 10.2: EMV Liability Shift Non-Counterfeit Fraud – Pre-

Arbitration Processing Requirements 707

Table 11-20: Dispute Condition 10.3: Other Fraud – Card-Present Environment – Dispute

Reasons 708

Table 11-21: Dispute Condition 10.3: Other Fraud – Card-Present Environment – Dispute

Rights 708

Table 11-22: Dispute Condition 10.3: Other Fraud – Card-Present Environment – Invalid

Disputes 709

Table 11-23: Dispute Condition 10.3: Other Fraud – Card-Present Environment – Dispute

Time Limit 710

Table 11-24: Dispute Condition 10.3: Other Fraud – Card-Present Environment – Dispute

Processing Requirements 710

Table 11-25: Dispute Condition 10.3: Other Fraud – Card-Present Environment – Pre-

Arbitration Processing Requirements 710

Table 11-26: Dispute Condition 10.4: Other Fraud – Card-Absent Environment – Dispute

Reasons 712

Tables

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13 April 2024 Visa Public 34

Table 11-27: Dispute Condition 10.4: Other Fraud – Card-Absent Environment – Dispute

Rights 712

Table 11-28: Dispute Condition 10.4: Other Fraud – Card-Absent Environment – Invalid

Disputes 713

Table 11-29: Dispute Condition 10.4: Other Fraud – Card-Absent Environment – Dispute

Time Limit 716

Table 11-30: Dispute Condition 10.4: Other Fraud – Card-Absent Environment – Dispute

Processing Requirements 716

Table 11-31: Dispute Condition 10.4: Other Fraud – Card-Absent Environment – Pre-

Arbitration Processing Requirements 717

Table 11-32: Dispute Condition 10.5: Visa Fraud Monitoring Program – Dispute Reasons 718

Table 11-33: Dispute Condition 10.5 Visa Fraud Monitoring Program – Invalid Disputes 719

Table 11-34: Dispute Condition 10.5: Visa Fraud Monitoring Program – Dispute Time Limit 719

Table 11-35: Dispute Condition 10.5: Visa Fraud Monitoring Program – Pre-Arbitration

Processing Requirements 720

Table 11-36: Dispute Condition 11.1: Card Recovery Bulletin – Dispute Reasons 720

Table 11-37: Dispute Condition 11.1: Card Recovery Bulletin – Invalid Disputes 721

Table 11-38: Dispute Condition 11.1: Card Recovery Bulletin – Dispute Time Limit 721

Table 11-39: Dispute Condition 11.1: Card Recovery Bulletin – Pre-Arbitration Processing

Requirements 722

Table 11-40: Dispute Condition 11.2: Declined Authorization – Dispute Reasons 723

Table 11-41: Dispute Condition 11.2: Declined Authorization – Dispute Rights 723

Table 11-42: Dispute Condition 11.2: Declined Authorization – Invalid Disputes 723

Table 11-43: Dispute Condition 11.2: Declined Authorization – Dispute Time Limit 724

Table 11-44: Dispute Condition 11.2: Declined Authorization – Pre-Arbitration Processing

Requirements 724

Tables

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13 April 2024 Visa Public 35

Table 11-45: Dispute Condition 11.3: No Authorization – Dispute Reasons 725

Table 11-46: Dispute Condition 11.3: No Authorization/Late Presentment – Dispute

Reasons 725

Table 11-47: Effective through 12 April 2024 Dispute Condition 11.3: No Authorization –

Dispute Rights 726

Table 11-48: Effective 13 April 2024 Dispute Condition 11.3: No Authorization/Late

Presentment – Dispute Rights 727

Table 11-49: Dispute Condition 11.3: No Authorization – Invalid Disputes 728

Table 11-50: Dispute Condition 11.3: No Authorization/Late Presentment – Invalid

Disputes 728

Table 11-51: Dispute Condition 11.3: No Authorization – Dispute Time Limit 729

Table 11-52: Dispute Condition 11.3: No Authorization/Late Presentment – Dispute Time

Limit 730

Table 11-53: Dispute Condition 11.3: No Authorization – Pre-Arbitration Processing

Requirements 730

Table 11-54: Dispute Condition 11.3: No Authorization/Late Presentment – Pre-Arbitration

Processing Requirements 731

Table 11-55: Dispute Condition 12.1: Late Presentment – Dispute Reasons 733

Table 11-56: Effective through 12 April 2024 Dispute Condition 12.1: Late Presentment –

Dispute Rights 734

Table 11-57: Dispute Condition 12.1: Late Presentment – Invalid Disputes 734

Table 11-58: Dispute Condition 12.1: Late Presentment – Dispute Time Limit 735

Table 11-59: Dispute Condition 12.1: Late Presentment – Dispute Processing Requirements 735

Table 11-60: Dispute Condition 12.1: Late Presentment – Dispute Response Processing

Requirements 736

Table 11-61: Dispute Condition 12.2: Incorrect Transaction Code – Dispute Reasons 737

Table 11-62: Dispute Condition 12.2: Incorrect Transaction Code – Dispute Rights 737

Tables

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13 April 2024 Visa Public 36

Table 11-63: Dispute Condition 12.2: Incorrect Transaction Code – Invalid Disputes 738

Table 11-64: Dispute Condition 12.2: Incorrect Transaction Code – Dispute Time Limit 738

Table 11-65: Dispute Condition 12.2: Incorrect Transaction Code – Dispute Processing

Requirements 739

Table 11-66: Dispute Condition 12.2: Incorrect Transaction Code – Dispute Response

Processing Requirements 739

Table 11-67: Dispute Condition 12.3: Incorrect Currency – Dispute Reasons 740

Table 11-68: Dispute Condition 12.3: Incorrect Currency – Dispute Rights 741

Table 11-69: Dispute Condition 12.3: Incorrect Currency – Invalid Disputes 741

Table 11-70: Dispute Condition 12.3: Incorrect Currency – Dispute Time Limit 741

Table 11-71: Dispute Condition 12.3: Incorrect Currency – Dispute Processing

Requirements 742

Table 11-72: Dispute Condition 12.3: Incorrect Currency – Dispute Response Rights 742

Table 11-73: Dispute Condition 12.3: Incorrect Currency – Dispute Response Processing

Requirements 743

Table 11-74: Dispute Condition 12.4: Incorrect Account Number – Dispute Reasons 744

Table 11-75: Dispute Condition 12.4: Incorrect Account Number – Invalid Disputes 744

Table 11-76: Dispute Condition 12.4: Incorrect Account Number – Dispute Time Limit 745

Table 11-77: Dispute Condition 12.4: Incorrect Account Number – Dispute Processing

Requirements 746

Table 11-78: Dispute Condition 12.4: Incorrect Account Number – Dispute Response

Processing Requirements 746

Table 11-79: Dispute Condition 12.5: Incorrect Amount – Dispute Reasons 747

Table 11-80: Dispute Condition 12.5: Incorrect Amount – Dispute Rights 747

Table 11-81: Dispute Condition 12.5: Incorrect Amount – Invalid Disputes 748

Table 11-82: Dispute Condition 12.5: Incorrect Amount – Dispute Time Limit 748

Tables

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Table 11-83: Dispute Condition 12.5: Incorrect Amount – Dispute Processing Requirements 749

Table 11-84: Dispute Condition 12.5: Incorrect Amount – Dispute Response Processing

Requirements 749

Table 11-85: Dispute Condition 12.6: Duplicate Processing/Paid by Other Means – Dispute

Reasons 750

Table 11-86: Dispute Condition 12.6: Duplicate Processing/Paid by Other Means – Dispute

Rights 751

Table 11-87: Dispute Condition 12.6: Duplicate Processing/Paid by Other Means – Invalid

Disputes 752

Table 11-88: Dispute Condition 12.6: Duplicate Processing/Paid by Other Means – Dispute

Time Limit 752

Table 11-89: Dispute Condition 12.6: Duplicate Processing/Paid by Other Means – Dispute

Processing Requirements 753

Table 11-90: Dispute Condition 12.6: Duplicate Processing/Paid by Other Means – Dispute

Response Processing Requirements 754

Table 11-91: Dispute Condition 12.7: Invalid Data – Dispute Reasons 755

Table 11-92: Dispute Condition 12.7 Invalid Data – Dispute Rights 755

Table 11-93: Dispute Condition 12.7: Invalid Data – Invalid Disputes 755

Table 11-94: Dispute Condition 12.7: Invalid Data – Dispute Time Limit 756

Table 11-95: Dispute Condition 12.7: Invalid Data – Dispute Processing Requirements 756

Table 11-96: Dispute Condition 12.7: Invalid Data – Dispute Response Processing

Requirements 757

Table 11-97: Dispute Condition 13.1: Merchandise/Services Not Received – Dispute

Reasons 758

Table 11-98: Dispute Condition 13.1: Merchandise/Services Not Received – Dispute Rights 758

Table 11-99: Dispute Condition 13.1: Merchandise/Services Not Received – Invalid

Disputes 760

Tables

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Table 11-100: Dispute Condition 13.1: Merchandise/Services Not Received – Dispute Time

Limit 761

Table 11-101: Dispute Condition 13.1: Merchandise/Services Not Received – Dispute

Processing Requirements 762

Table 11-102: Dispute Condition 13.1: Merchandise/Services Not Received – Dispute

Response Processing Requirements 765

Table 11-103: Dispute Condition 13.2: Cancelled Recurring Transaction – Dispute Reasons 766

Table 11-104: Dispute Condition 13.2: Cancelled Recurring Transaction – Dispute Rights 766

Table 11-105: Dispute Condition 13.2: Cancelled Recurring Transaction – Invalid Disputes 767

Table 11-106: Dispute Condition 13.2: Cancelled Recurring Transaction – Dispute Time

Limit 767

Table 11-107: Dispute Condition 13.2: Cancelled Recurring Transaction – Dispute

Processing Requirements 768

Table 11-108: Dispute Condition 13.2: Cancelled Recurring Transaction – Dispute Response

Processing Requirements 768

Table 11-109: Dispute Condition 13.3: Not as Described or Defective Merchandise/Services

– Dispute Reasons 769

Table 11-110: Dispute Condition 13.3: Not as Described or Defective Merchandise/Services

– Dispute Rights 770

Table 11-111: Dispute Condition 13.3: Not as Described or Defective Merchandise/Services

– Invalid Disputes 772

Table 11-112: Dispute Condition 13.3: Not as Described or Defective Merchandise/Services

– Dispute Time Limit 773

Table 11-113: Dispute Condition 13.3: Not as Described or Defective Merchandise/Services

– Dispute Processing Requirements 774

Table 11-114: Dispute Condition 13.3: Not as Described or Defective Merchandise/Services

– Dispute Response Processing Requirements 775

Table 11-115: Dispute Condition 13.4: Counterfeit Merchandise – Dispute Reasons 776

Tables

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Table 11-116: Dispute Condition 13.4: Counterfeit Merchandise – Dispute Rights 777

Table 11-117: Dispute Condition 13.4: Counterfeit Merchandise – Invalid Disputes 777

Table 11-118: Dispute Condition 13.4: Counterfeit Merchandise – Dispute Time Limit 778

Table 11-119: Dispute Condition 13.4: Counterfeit Merchandise – Dispute Processing

Requirements 778

Table 11-120: Dispute Condition 13.4: Counterfeit Merchandise – Dispute Response

Processing Requirements 779

Table 11-121: Dispute Condition 13.5: Misrepresentation – Dispute Reasons 780

Table 11-122: Dispute Condition 13.5: Misrepresentation – Dispute Rights 780

Table 11-123: Dispute Condition 13.5: Misrepresentation – Invalid Disputes 782

Table 11-124: Dispute Condition 13.5: Misrepresentation – Dispute Time Limit 782

Table 11-125: Dispute Condition 13.5: Misrepresentation – Dispute Processing

Requirements 783

Table 11-126: Dispute Condition 13.5: Misrepresentation – Dispute Response Processing

Requirements 784

Table 11-127: Dispute Condition 13.6: Credit Not Processed – Dispute Reasons 785

Table 11-128: Dispute Condition 13.6: Credit Not Processed – Dispute Rights 785

Table 11-129: Dispute Condition 13.6: Credit Not Processed – Invalid Disputes 786

Table 11-130: Dispute Condition 13.6: Credit Not Processed – Dispute Time Limit 786

Table 11-131: Dispute Condition 13.6: Credit Not Processed – Dispute Processing

Requirements 787

Table 11-132: Dispute Condition 13.6: Credit Not Processed – Dispute Response

Processing Requirements 787

Table 11-133: Dispute Condition 13.7: Cancelled Merchandise/Services – Dispute Reasons 788

Table 11-134: Dispute Condition 13.7: Cancelled Merchandise/Services – Dispute Rights 788

Table 11-135: Dispute Condition 13.7: Cancelled Merchandise/Services – Invalid Disputes 790

Tables

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Table 11-136: Dispute Condition 13.7: Cancelled Merchandise/Services – Dispute Time

Limit 791

Table 11-137: Dispute Condition 13.7: Cancelled Merchandise/Services – Dispute

Processing Requirements 792

Table 11-138: Dispute Condition 13.7: Cancelled Merchandise/Services – Dispute Response

Processing Requirements 794

Table 11-139: Dispute Condition 13.8: Original Credit Transaction Not Accepted – Dispute

Reasons 795

Table 11-140: Dispute Condition 13.8: Original Credit Transaction Not Accepted – Invalid

Disputes 796

Table 11-141: Dispute Condition 13.8: Original Credit Transaction Not Accepted – Dispute

Time Limit 796

Table 11-142: Dispute Condition 13.8: Original Credit Transaction Not Accepted – Dispute

Processing Requirements 796

Table 11-143: Dispute Condition 13.8: Original Credit Transaction Not Accepted – Dispute

Response Processing Requirements 797

Table 11-144: Dispute Condition 13.9: Non-Receipt of Cash at an ATM – Dispute Reasons 797

Table 11-145: Dispute Condition 13.9: Non-Receipt of Cash at an ATM – Dispute Rights 798

Table 11-146: Dispute Condition 13.9: Non-Receipt of Cash at an ATM – Invalid Disputes 798

Table 11-147: Dispute Condition 13.9: Non-Receipt of Cash at an ATM – Dispute Time Limit 798

Table 11-148: Dispute Condition 13.9: Non-Receipt of Cash at an ATM – Dispute

Processing Requirements 799

Table 11-149: Dispute Condition 13.9: Non-Receipt of Cash at an ATM – Dispute Response

Processing Requirements 800

Table 11-150: Pre-Compliance Time Limits 802

Table 11-151: Compliance Time Limits 802

Table 11-152: Chargeback Reduction Service Returned or VROL Prevented Valid Dispute,

803

Tables

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 41

Dispute Response, or Pre-Arbitration Attempt for Invalid Data

Table 11-153: Cardholder Letter Required for Legal Purposes 804

Table 11-154: Authorization Received after Decline Response on Counterfeit Card 804

Table 11-155: Fraudulent Multiple Transactions 805

Table 11-156: Fraudulent Credits 805

Table 11-157: ATM Deposit – No Documentation Received for Deposit Return Item 806

Table 11-158: ATM Deposit – Cardholder Did Not Receive Credit or Settlement Amount

Did Not Match 806

Table 11-159: ATM Adjustment for Fraudulent Transactions 807

Table 11-160: Rapid Dispute Resolution – Credit Issued 808

Table 12-1: Non-Compliance Assessments for Failure to Report Fraud 811

Table 12-2: Member Non-Compliance Assessments for Non-Compliance with the Chip

Interoperability Compliance Program – AP Region, Canada Region, CEMEA

Region, LACRegion, USRegion 812

Table 12-3: Member Non-Compliance Assessments for Non-Compliance with the Chip

Interoperability Compliance Program – Europe Region 812

Table 12-4: Non-Compliance Assessments for Member Failure to Meet Marketplace

Requirements 815

Table 12-5: Non-Compliance Assessments for theAccount Information Security Program –

AP Region, CanadaRegion, CEMEARegion, LACRegion, US Region 817

Table 12-6: Non-Compliance Assessments for the Account Information Security Program –

Europe Region 817

Table 12-7: Non-Compliance Assessments for Excessive Disputes or Fraud Activity-to-Sales

Ratio 819

Table 12-8: Non-Compliance Assessments for Enumeration Attacks 820

Table 12-9: Non-Compliance Assessments for Excessive Disputes or Fraud Activity-to-Sales

Ratio 820

Tables

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 42

Table 12-10: Non-Compliance Assessments for VDMP – Standard Program 821

Table 12-11: Non-Compliance Assessments for VDMP – Excessive/High-Risk Program 822

Table 12-12: Non-Compliance Assessments for VFMP – Standard Timeline 824

Table 12-13: Non-Compliance Assessments for VFMP – High-Risk/Excessive Timeline 825

Table 12-14: Non-Compliance Assessments Related to Third Party Agents 826

Tables

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 43

Summary of Changes

Summary of Changes since the 14 October 2023 Visa Core Rules and Visa

Product and Service Rules

This section provides an overview of all the changes that have been made to the Visa Core Rules

and Visa Product and Service Rules since its last publication. Changes are listed by region and then

alphabetically.

In addition to the changes detailed in the table below, editorial revisions have been made to ensure

consistency and clarity and to delete obsolete or redundant language, and most effective dates

older than 6 months have been deleted.

Global or Multi-Regional|AP|Canada|CEMEA|Europe|LAC|US

Region(s) Change Overview

Global or Multi-Regional Changes

Global

Account Name Inquiry (ANI) and Address Verification Service (AVS)

Effective 18 October 2024 and 11 April 2025

Rule(s) impacted:

Section 7.3.6.1, Decline Response Prohibition for Missing Card Verification Value

2 (CVV2), ID# 0029985

Section 7.3.11.2, Account Verification Processing – Issuer Requirements, ID#

0031047

Section 7.3.11.3, Account Verification Processing – Acquirer Requirements, ID#

0031048

Section 10.12.1.2, Address Verification Service (AVS) Issuer Requirements – AP,

Canada, Europe, and US Regions, ID# 0004679

Section 10.12.1.5, Address Verification Service (AVS) Acquirer Requirements –

Europe and US Regions, ID# 0031044

Section 10.12.2.1, Account Name Inquiry Issuer Requirements – AP, Canada,

Europe, LAC, and US Regions, ID# 0030972

Section 10.12.2.2, Account Name Inquiry Acquirer Requirements – Canada,

Europe, and US Regions, ID# 0030973

Section 10.12.3.1, Card Verification Value Issuer Requirements, ID# 0008133

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 44

Region(s) Change Overview

Section 10.12.3.2, Card Verification Value 2 (CVV2) – Acquirer Processing

Requirements, ID# 0030124

Section 10.12.3.7, Card Verification Value 2 (CVV2) Issuer Processing

Requirements, ID# 0031045

Section 10.12.3.8, Card Verification Value (CVV) – Acquirer Processing

Requirements, ID# 0031046

Token, ID# 0029108

Global

Acquirer Assignment of a Unique Card Acceptor Identification (CAID) for

Each Merchant, Payment Facilitator, or Staged Digital Wallet

Effective 20 July 2024

Rule(s) impacted:

Section 5.3.1.3, Acquirer Assignment of Unique Card Acceptor Identification

(CAID) Number, ID# 0031049

Section 5.3.1.4, Acquirer Requirements for Contracting with Payment

Facilitators, ID# 0026435

Section 5.3.3.1, Staged Digital Wallet – Acquirer Requirements, ID# 0029535

Global

Acquiring Identifier Licensee, Licensee, and BID Glossary Revisions

Effective 20 January 2024

Rule(s) impacted:

Acquiring Identifier Licensee, ID# 0030644

BID, ID# 0031043

Licensee, ID# 0024780

Global

Business Payment Solution Providers Acquirer Requirements

Effective 13 April 2024

Rule(s) impacted:

Section 5.12.2.1, Acquirer Requirements for Business Payment Solution

Providers, ID# 0030064

Global Client Directory Data Submission Updates

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 45

Region(s) Change Overview

Effective 22 February 2024

Rule(s) impacted:

Section 2.1.4.2, Client Directory Data Submission, ID# 0007725

Client Directory, ID# 0030015

Directory Manager, ID# 0031040

My Organization’s Contacts, ID# 0030655

Primary Center Manager, ID# 0031041

Senior Officer, ID# 0031042

Global

Consumer Bill Payment Service (CBPS) New Merchant Category Codes

(MCCs)

Effective 13 April 2024

Rule(s) impacted:

Section 5.12.1, Acquirer Requirements for Consumer Bill Payment Service

Providers, ID# 0030635

Global

Consumer Lending Business Entity Issuance Requirements for Business to

Business (B2B) Transactions

Effective 15 January 2024

Rule(s) impacted:

Section 4.13.4.3, Consumer Lending Business Entity Issuance Requirements, ID#

0031037

Consumer Lending Business Entity, ID# 0031038

Qualifying Merchant, ID# 0031039

Global

Digital Currency and Non-Fungible Token (NFT) Acceptance Policy

Enhancements and New Ramp Provider Program Launch

Effective 13 April 2024

Rule(s) impacted:

Section 1.5.1.1, Acquirer Jurisdiction and Restriction of Cross-Border Acquiring,

ID# 0008552

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 46

Region(s) Change Overview

Section 1.5.7.1, Transaction Deposit Conditions, ID# 0002981

Section 1.5.7.2, Acquirer Payments to Card Acceptors, ID# 0008850

Section 1.10.2.1, Acquirer Integrity Risk Requirements, ID# 0026376

Section 1.10.5.1, High-Integrity Risk Acquirer Requirements, ID# 0026383

Section 5.1.1.1, Provision of Required Merchant Information, ID# 0026460

Section 5.3.1.6, Additional Sponsored Merchant Requirements for Payment

Facilitators, ID# 0030892

Section 5.3.2.1, Assignment of Digital Wallet Operator, Marketplace, or Ramp

Provider Location, ID# 0029139

Section 5.3.2.2, Qualification as a Marketplace, Merchant, Payment Facilitator,

Digital Wallet Operator, or Ramp Provider, ID# 0030076

Section 5.3.3.2, Digital Wallet Operator Requirements, ID# 0030711

Section 5.3.4.6, Ramp Provider Acquirer Requirements, ID# 0031031

Section 5.3.5.1, Required Additional Content of Ramp Provider Agreement, ID#

0031033

Section 5.8.4.1, Merchant Website Requirements, ID# 0008635

Section 5.8.7.1, Aggregated Transaction Merchant Requirements, ID# 0002906

Section 5.8.18.1, Online Gambling Merchant and Acquirer Requirements, ID#

0002474

Section 5.8.18.3, Disbursement of Gambling Winnings to a Cardholder, ID#

0002958

Section 5.9.2.3, Required Transaction Receipt Content for Specific Transaction

Types, ID# 0028052

Section 7.4.7.1, Digital Wallets – Transaction Processing Requirements, ID#

0030712

Section 7.4.16.1, Transactions Involving Cryptocurrency or Non-Fungible Tokens

(NFT) – Transaction Processing Requirements, ID# 0030883

Section 11.5.2, Use of Compelling Evidence, ID# 0030221

Section 11.7.5.3, Dispute Condition 10.4: Other Fraud – Card-Absent

Environment – Invalid Disputes, ID# 0030254

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 47

Region(s) Change Overview

Section 11.10.2.2, Dispute Condition 13.1: Merchandise/Services Not Received –

Dispute Rights, ID# 0030314

Section 11.10.2.3, Dispute Condition 13.1: Merchandise/Services Not Received –

Invalid Disputes, ID# 0030315

Section 11.10.2.5, Dispute Condition 13.1: Merchandise/Services Not Received –

Dispute Processing Requirements, ID# 0030317

Section 11.10.2.6, Dispute Condition 13.1: Merchandise/Services Not Received –

Dispute Response Processing Requirements, ID# 0030318

Section 11.10.4.1, Dispute Condition 13.3: Not as Described or Defective

Merchandise/Services – Dispute Reasons, ID# 0030325

Section 11.10.4.2, Dispute Condition 13.3: Not as Described or Defective

Merchandise/Services – Dispute Rights, ID# 0030326

Section 11.10.4.3, Dispute Condition 13.3: Not as Described or Defective

Merchandise/Services – Invalid Disputes, ID# 0030327

Section 11.10.4.6, Dispute Condition 13.3: Not as Described or Defective

Merchandise/Services – Dispute Response Processing Requirements, ID#

0030330

Conversion Affiliate, ID# 0031034

Dynamic Currency Conversion (DCC), ID# 0024574

High-Integrity Risk Conversion Affiliate, ID# 0031035

High-Integrity Risk Ramp Provider, ID# 0031032

Ramp Provider, ID# 0031030

Global

Digital Goods Merchant Monitoring Sunset under the Visa Fraud

Monitoring Program (VFMP)

Effective 14 November 2023

Rule(s) impacted:

Section 10.4.5.1, Visa Fraud Monitoring Program (VFMP), ID# 0029288

Global

Installment Transactions Clarification

Effective through 12 April 2024

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 48

Region(s) Change Overview

Rule(s) impacted:

Section 5.8.11.1, Requirements for Partial Payments, Advance Payments, and

Transactions Using Stored Credentials, ID# 0029267

Global

Issuer Requirements to Support Enciphered Offline PIN

Effective 25 January 2025 and 12 January 2030

Rule(s) impacted:

Section 4.1.19.3, Issuer Requirements to Support Enciphered Offline PIN, ID#

0031073

Section 4.1.19.17, Cardholder Verification Method Preferences, ID# 0008186

Global

Member Fee Responsibility Clarifications for Third Party Agents

Effective 13 April 2024

Rule(s) impacted:

Section 10.2.2.6, Member Requirements for Third Party Agents, ID# 0025909

Global

New Authorization Response Code Introduced

Effective 13 April 2024

Rule(s) impacted:

Section 7.3.6.3, Use of Authorization Response Codes, ID# 0030640

Global

Original Credit Transactions (OCTs) Deposit-Only Account Number Cards

Effective 13 April 2024

Rule(s) impacted:

Section 8.4.2.2, Original Credit Transactions – Conditions for Use of a Deposit-

Only Account Number, ID# 0006983

Global

Partial Authorization Service Requirements

Effective 13 April 2024

Rule(s) impacted:

Section 7.3.9.1, Partial Authorization Service – Acquirer Requirements, ID#

0002515

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 49

Region(s) Change Overview

Section 7.3.9.2, Automated Fuel Dispenser Partial Authorization Merchant

Requirements, ID# 0002520

Section 7.3.9.3, Partial Authorization Service Acquirer Participation – Canada

Region, ID# 0029230

Section 7.3.9.4, Partial Authorization Service – Issuer Requirements, ID#

0029818

Section 7.3.9.5, Partial Authorization Service Merchant Participation, ID#

0031005

Global

Pass-Through Digital Wallet Requirements Clarifications

Effective 13 April 2024

Rule(s) impacted:

Section 4.1.20.1, Pass-Through Digital Wallet Requirements, ID# 0029534

Global

Payment Card Industry (PCI) Software Security Framework (SSF) Standards

Introduced

Effective 13 April 2024

Rule(s) impacted:

Section 1.10.4.1, Account and Transaction Information Security Requirements,

ID# 0002228

Section 5.3.1.1, Required Content of Payment Facilitator Agreement or Digital

Wallet Agreement, ID# 0026431

Visa Supplemental Requirements List, ID# 0028043

Account Information Security Program, ID# 0024215

Payment Card Industry (PCI) Software Security Framework (SSF), ID# 0024935

Global

Tap to Own Device Requirements

Effective 13 April 2024

Rule(s) impacted:

Section 5.6.1.1, Acceptance Device Requirements, ID# 0028045

Section 7.4.9.1, Tap to Cardholder-Owned Device – Acquirer Requirements, ID#

0031074

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 50

Region(s) Change Overview

Acceptance Device, ID# 0029278

Card-Absent Environment, ID# 0024362

Card-Present Environment, ID# 0024363

Face-to-Face Environment, ID# 0024643

Mobile Acceptance Device – Europe Region, ID# 0029729

Mobile Payment Acceptance Solution, ID# 0027382

Mobile Payment Device, ID# 0026785

Tap to Phone Solution, ID# 0031003

Unattended Cardholder-Activated Terminal (UCAT), ID# 0025720

Global

Tap to Phone Updates and Additional Use Cases for Contactless-Only

Deployment

Effective 9 November 2023

Rule(s) impacted:

Section 5.6.2.3, Deployment of Contactless-Only Acceptance Devices, ID#

0026670

Visa Supplemental Requirements List, ID# 0028043

Global

Visa Flexible Credential (VFC) Renamed to Visa Installment Credential (VIC)

Effective 21 December 2023

Rule(s) impacted:

Section 4.1.1.17, Visa Installment Solutions (VIS) Issuer Requirements – CEMEA

and Europe Regions, ID# 0030978

Section 4.1.8.2, Virtual Account Issuer Requirements, ID# 0001645

Section 4.1.14.2, Emergency Cash Disbursement and Emergency Card

Replacement Provision Requirements, ID# 0002626

Section 4.1.14.4, Provision of Emergency Services to Cardholders Requirements,

ID# 0004081

Section 4.37.1.1, Visa Installment Credential – Issuer Requirements, ID#

0030961

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 51

Region(s) Change Overview

VisaInstallment Credential, ID# 0030962

Canada

CEMEA

LAC

Partial Authorization Service Requirements Added for Account Funding

Transactions (AFTs)

Effective 13 April 2024 and 19 October 2024

Rule(s) impacted:

Section 7.3.9.6, Partial Authorization Service for Account Funding Transactions –

Issuer Requirements – Canada, CEMEA, LAC, and US Regions, ID# 0031023

Section 7.3.9.7, Partial Authorization Service for Account Funding Transactions –

Acquirer Requirements – Canada, CEMEA, LAC, and US Regions, ID# 0031024

CEMEA

Europe

Visa Flexible Credential (VFC) New Visa Supplemental Requirement (VSR)

for Issuer Participation Requirements

Effective 13 April 2024

Rule(s) impacted:

Visa Supplemental Requirements List, ID# 0028043

Europe

Guide Connect Rules Sunset

Effective 14 November 2023

Asia-Pacific Region-Specific Changes

Partial Authorization Expansion Update for Account Funding Transactions

(AFTs)

Effective 13 April 2024

Rule(s) impacted:

Section 7.3.9.6, Partial Authorization Service for Account Funding Transactions –

Issuer Requirements – Canada, CEMEA, LAC, and US Regions, ID# 0031023

Section 7.3.9.7, Partial Authorization Service for Account Funding Transactions –

Acquirer Requirements – Canada, CEMEA, LAC, and US Regions, ID# 0031024

AP (Australia, Hong Kong,

India, Indonesia, Japan,

Malaysia, Maldives New

Zealand, Philippines,

Mobility and Transport Transaction Requirements in Select Countries

Effective 20 July 2024

Rule(s) impacted:

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 52

Region(s) Change Overview

Republic of Korea,

Singapore, Taiwan,

Thailand, Vietnam)

Section 5.8.19.2, Mobility and Transport Transaction Requirements, ID#

0030050

AP (India)

Processing Timeframe Updates for Domestic Transactions in India

Effective 13 April 2024

Rule(s) impacted:

Section 5.7.4.7, Transaction and Processing Timeframes, ID# 0031022

AP (Japan)

Alternative Product Requirements for Visa Gold Cards and Visa Platinum

Cards

Effective 31 March 2024

Rule(s) impacted:

Section 4.4.3.1, Visa Gold Card Product Requirements – AP Region (Australia,

Japan), ID# 0029987

AP (Nepal)

Processing Timeframe Updates for Domestic Transactions in Nepal

Effective 13 April 2024

Rule(s) impacted:

Section 5.7.4.7, Transaction and Processing Timeframes, ID# 0031022

Section 11.8.3.1, Dispute Condition 11.3: No Authorization/Late Presentment –

Dispute Reasons, ID# 0030270

Section 11.8.3.4, Dispute Condition 11.3: No Authorization/Late Presentment –

Dispute Time Limit, ID# 0030273

Canada Region-Specific Changes

Canada

Visa Installment Solutions (VIS)

Effective 12 April 2025

Rule(s) impacted:

Section 5.8.10.1, Visa Installment Solutions (VIS) Acquirer Requirements –

Canada, CEMEA, and Europe Regions, ID# 0030979

Canada

Visa Secure Issuer Requirements

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 53

Region(s) Change Overview

Effective 12 April 2025

Rule(s) impacted:

Section 10.16.2.5, Visa Secure Issuer Participation Requirements, ID# 0030903

Section 10.16.2.6, Visa Secure Issuer Requirements – Canada Region, ID#

0031070

Central and Eastern Europe, Middle East and Africa Region-Specific Changes

CEMEA

Visa Commercial Cards Data Provision Requirements

Effective 30 September 2024, 30 September 2025, and 30 September 2026

Rule(s) impacted:

Section 4.13.1.1, Visa Commercial Card Issuance Requirements, ID# 0003173

Visa Commercial Format (VCF), ID# 0031050

Visa Intellilink Data Solutions Simplified Format (VIDS SF), ID# 0031051

CEMEA (Afghanistan,

Algeria, Armenia,

Azerbaijan, Belarus, Benin,

Bouvet Island, Bosnia and

Herzegovina, Botswana,

Burkina Faso, Burundi,

Cameroon, Cape Verde,

Central African Republic,

Chad, Comoros, Congo

[Brazzaville], Cote d’Ivoire,

Democratic Republic of

the Congo, Djibouti,

Equatorial Guinea, Eritrea,

Eswatini, Ethiopia, Gabon,

Gambia, Guinea, Guinea-

Bissau, Iraq, Lesotho,

Liberia, Libya, Mali,

Mauritania, Mauritius,

Moldova, Montenegro,

Morocco, Namibia, Niger,

Secure Credential Framework for Issuers Expanded to Select Countries

Effective 13 April 2024, 19 October 2024, and 25 January 2025

Rule(s) impacted:

Section 4.1.17.1, Visa Token Service (VTS) Issuer Participation Requirements, ID#

0029515

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 54

Region(s) Change Overview

Nigeria, North

Macedonia, Saint Helena,

Ascension, and Tristan da

Cunha [including Gough

Island], Sao Tome and

Principe, Senegal, Serbia,

Sierra Leone, Somalia,

South Sudan, Sudan,

Tanzania, Togo, Tunisia,

Turkmenistan, Uganda,

Uzbekistan, Western

Sahara, Yemen,

Zimbabwe)

CEMEA (Albania, Bahrain,

Bosnia and Herzegovina,

Egypt, Jordan, Kosovo,

Kuwait, Montenegro,

Morocco, North

Macedonia, Oman,

Pakistan, Qatar, Saudi

Arabia, Serbia, United

Arab Emirates)

Visa Token Service Push Provisioning Requirements in Select Countries

Effective 19 October 2024, 12 April 2025, and 18 October 2025

Rule(s) impacted:

Section 4.1.17.1, Visa Token Service (VTS) Issuer Participation Requirements, ID#

0029515

CEMEA (Armenia,

Azerbaijan, Belarus,

Georgia, Kazakhstan,

Moldova, North

Macedonia, Serbia,

Ukraine)

Contactless Acceptance Requirements for ATMs in Select Countries

Effective 18 April 2026 and 14 April 2029

Rule(s) impacted:

Section 5.6.2.2, Contactless Acceptance Requirements – AP, CEMEA, Europe, and

LAC Regions, ID# 0031004

CEMEA (Azerbaijan,

Bahrain, Jordan, Oman)

Visa Installment Solution (VIS) Expansion in Azerbaijan, Bahrain, Jordan, and

Oman

Effective 12 April 2025 and 18 October 2025

Rule(s) impacted:

Section 4.1.1.17, Visa Installment Solutions (VIS) Issuer Requirements – CEMEA

and Europe Regions, ID# 0030978

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 55

Region(s) Change Overview

Section 5.8.10.1, Visa Installment Solutions (VIS) Acquirer Requirements –

Canada, CEMEA, and Europe Regions, ID# 0030979

CEMEA (Bahrain, Belarus,

Jordan, Kazakhstan,

Kuwait, Morocco, Oman,

Pakistan, Qatar, Saudi

Arabia, Ukraine, United

Arab Emirates)

Secure Credential Framework for Acquirers and Merchants in Select

Countries

Effective 19 October 2024, 12 April 2025, 18 October 2025, and 18 April 2026

Rule(s) impacted:

Section 5.8.4.9, Click to Pay Acceptance Requirements – CEMEA Region, ID#

0031060

Section 5.8.11.1, Requirements for Partial Payments, Advance Payments, and

Transactions Using Stored Credentials, ID# 0029267

CEMEA (Bahrain, Kuwait,

Oman, Qatar, South

Africa, Ukraine, United

Arab Emirates)

Click to Pay Card Enrollment Issuer Requirements in Select Countries

Effective 12 April 2025 and 24 October 2026

Rule(s) impacted:

Section 4.1.16.1, Click to Pay – Card Enrollment, ID# 0026989

Visa Supplemental Requirements List, ID# 0028043

CEMEA (Bahrain, Kuwait,

Oman, Qatar, Saudi

Arabia, United Arab

Emirates)

Visa Account Updater (VAU) Issuer Requirements in Select Countries

Effective 19 October 2024

Rule(s) impacted:

Section 8.6.1.1, Issuer Use of Visa Account Updater, ID# 0029869

CEMEA (Domestic

Tanzania)

Dispute Resolution Process Time Limit for Domestic Tanzania

Effective for Disputes processed on or after 1 February 2024

Rule(s) impacted:

Section 11.2.2, Dispute Resolution Process – Dispute Category 10 (Fraud) and 11

(Authorization), ID# 0030212

Section 11.2.3, Dispute Resolution Process – Dispute Category 12 (Processing

Errors) and 13 (Consumer Disputes), ID# 0030213

CEMEA (Kuwait, Oman,

Qatar, Saudi Arabia,

Transaction Fraud Prevention Issuer Requirements in Select Countries

Effective 19 October 2024

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 56

Region(s) Change Overview

United Arab Emirates)

Rule(s) impacted:

Section 10.12.5.1, Visa Provisioning Intelligence Participation – CEMEA Region,

ID# 0031059

Section 10.13.1.1, Visa Advanced Authorization and Visa Risk Manager

Participation, ID# 0008446

CEMEA (Nigeria)

Floor Limits Changes and Introduction of Visa Easy Payment Service (VEPS)

Limits in Nigeria

Effective 13 April 2024

Rule(s) impacted:

Section 5.8.12.2, Maximum Transaction Amounts for Visa Easy Payment Service

(VEPS) Transactions and Transactions at Certain Contactless-Only Acceptance

Devices – AP, Canada, CEMEA, Europe, and LAC Regions, ID# 0027503

CEMEA (Oman, Qatar,

Saudi Arabia, United Arab

Emirates)

Visa Infinite Business Launch in Oman, Qatar, Saudi Arabia, and United Arab

Emirates

Effective 9 November 2023

Rule(s) impacted:

Section 4.1.1.14, Marketing Materials for Visa Products, ID# 0029988

Section 4.18.3.3, Visa Infinite Business Cardholder Notification and Complaints

– AP, Canada, CEMEA, Europe, and US Regions, ID# 0029245

Section 4.38.1.1, Visa Infinite Business Card Spending Limits – CEMEA Region,

ID# 0031055

Section 4.38.3.2, Visa Infinite Business Card Digital Services – CEMEA Region,

ID# 0031054

Section 4.38.4.1, Visa Infinite Business Card Features and Benefits – CEMEA

Region, ID# 0031056

Europe Region-Specific Changes

Europe

Application Program Interface Usage

Rule(s) impacted:

Section 7.2.3, Application Programming Interface Usage – Europe Region, ID#

0031061

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 57

Region(s) Change Overview

Europe

Click to Pay

Effective 18 October 2024 and 18 April 2025

Rule(s) impacted:

Section 4.1.16.1, Click to Pay – Card Enrollment, ID# 0026989

Visa Supplemental Requirements List, ID# 0028043

Europe

Consumer Choice Rules and Requirements

Effective 1 May 2024

Rule(s) impacted:

Section 1.4.2.1, BINs and Account Numbers on Cards, ID# 0003196

Section 1.5.4.5, Selection of Payment System – AP (Australia), Europe, and US

Regions, ID# 0002868

Section 4.1.6.8, Affinity/Co-Branded Card Transaction Processing, ID# 0027370

Section 4.1.9.6, Cards that Support Multiple Payment Schemes – Issuer

Requirements – Europe Region, ID# 0029615

Section 5.8.4.6, Electronic Commerce Merchant Requirements to Support

Consumer Choice – Europe Region, ID# 0031057

Section 12.3.6.1, Cardholder Choice of Payment Scheme or Payment Application

Non-Compliance Assessments – Europe Region, ID# 0030948

Visa Supplemental Requirements List, ID# 0028043

Europe

Partial Authorization Service Requirements

Effective 13 April 2024

Rule(s) impacted:

Section 7.3.9.1, Partial Authorization Service – Acquirer Requirements, ID#

0002515

Section 7.3.9.4, Partial Authorization Service – Issuer Requirements, ID#

0029818

Section 7.3.9.5, Partial Authorization Service Merchant Participation, ID#

0031005

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 58

Region(s) Change Overview

Europe

Visa Advanced Authorization (VAA) and Visa Risk Manager (VRM) Mass

Enablement for Card-Absent Environment Transactions

Effective 24 June 2024

Rule(s) impacted:

Section 10.13.1.1, Visa Advanced Authorization and Visa Risk Manager

Participation, ID# 0008446

Section 10.19.1.1, Issuer Requirements Relating to Fraud Detection Systems –

Europe Region, ID# 0029605

Europe

Visa Alias Directory Service Expansion

Effective 12 April 2025

Rule(s) impacted:

Section 7.3.13.1, Visa Alias Directory Service – Europe Region, ID# 0031007

Europe

Visa Fleet Cards Automated Fuel Dispenser (AFD) Limit Increase

Effective 13 April 2024

Rule(s) impacted:

Section 5.7.3.7, Automated Fuel Dispenser Requirements, ID# 0030939

Section 7.4.3.2, Automated Fuel Dispenser Transaction Issuer Requirements – AP

Region (Australia, Malaysia, New Zealand) and Europe Region, ID# 0029982

Visa Fleet Card, ID# 0025317

Europe

Visa Platinum Business and Visa Infinite Business Requirements

Effective 14 October 2024

Rule(s) impacted:

Section 4.16.1.5, Visa Platinum Business Card Rewards Program – Europe

Region, ID# 0030696

Section 4.16.3.5, Visa Platinum Business Card Minimum Spend Requirement –

Europe Region, ID# 0030693

Section 4.16.3.6, Visa Platinum Business Card Issuance Requirements – Europe

Region (France), ID# 0030082

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 59

Region(s) Change Overview

Section 4.16.4.4, Visa Platinum Business Card Core Features – Europe Region,

ID# 0030694

Section 4.16.4.5, Visa Platinum Business Card Customer Service Requirements –

Europe Region, ID# 0030695

Section 4.18.2.1, Visa Infinite Business Card Customer Service Requirements –

Europe Region, ID# 0030701

Section 4.18.3.7, Visa Infinite Business Card Issuer Rewards Program

Requirements – Canada and Europe Regions, ID# 0029544

Europe

Visa Provisioning Intelligence Service Enrollment

Rule(s) impacted:

Section 10.12.5.2, Visa Provisioning Intelligence Service – Europe Region, ID#

0031071

Visa Provisioning Intelligence Service – Europe Region, ID# 0031072

Europe (Cyprus, Czech

Republic, Greece, Malta,

Netherlands, Norway,

Romania)

Domestic ATM Access Fees Allowed in Select Countries

Effective 13 April 2024

Rule(s) impacted:

Section 6.4.1.1, Domestic ATM Access Fees, ID# 0007996

Europe (Estonia, Latvia)

Floor Limit When Online Connectivity Unavailable for Essential Merchants in

Estonia and Latvia

Effective 1 January 2025, 1 July 2025

Rule(s) impacted:

Visa Supplemental Requirements List, ID# 0028043

Europe (Liechtenstein,

Switzerland)

EMVI IssuanceSunset in Liechtenstein and Switzerland

Effective 19 October 2024

Rule(s) impacted:

Section 4.1.19.44, Chip Card Issuing Requirements – Europe Region

(Liechtenstein, Switzerland), ID# 0030008

Europe (Poland)

Visa Mobile Introduced in Poland

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 60

Region(s) Change Overview

Effective 19 October 2024

Rule(s) impacted:

Section 4.1.23.1, Visa Mobile Issuer Requirements – Europe Region (Poland), ID#

0031027

Section 5.8.4.8, Visa Mobile Acquirer and Payment Facilitator Requirements –

Europe Region (Poland), ID# 0031028

Visa Mobile, ID# 0031026

Europe (Switzerland)

Update to Visa Central Travel Account Issuance Requirements

Effective 13 April 2024

Rule(s) impacted:

Section 4.13.1.9, Visa Central Travel Account – Issuance Requirements, ID#

0026396

Latin America and Caribbean Region-Specific Changes

LAC (Anguilla, Antigua

and Barbuda, Aruba,

Bahamas, Barbados,

Bermuda, Bonaire, Sint

Eustatius and Saba, British

Virgin Islands, Cayman

Islands, Curacao,

Dominica, Grenada,

Guyana, Haiti, Jamaica,

Montserrat, Sint Maarten,

Saint Kitts and Nevis, Saint

Lucia, Saint Vincent and

Grenadines, Suriname,

Trinidad and Tobago,

Turks and Caicos Islands)

Visa Easy Payment Service (VEPS) Limits Updated in Select Caribbean

Countries

Effective 13 April 2024

Rule(s) impacted:

Section 5.8.12.2, Maximum Transaction Amounts for Visa Easy Payment Service

(VEPS) Transactions and Transactions at Certain Contactless-Only Acceptance

Devices – AP, Canada, CEMEA, Europe, and LAC Regions, ID# 0027503

LAC (Argentina)

Cash-Back Transactions Processing Requirements in Argentina

Effective 13 April 2024

Rule(s) impacted:

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 61

Region(s) Change Overview

Section 5.7.4.7, Transaction and Processing Timeframes, ID# 0031022

Section 5.8.1.4, Cash-Back Requirements, ID# 0002971

LAC (Argentina)

Domestic Visa Easy Payment Service (VEPS) Limits in Argentina

Effective 28 February 2024

Rule(s) impacted:

Section 5.8.12.2, Maximum Transaction Amounts for Visa Easy Payment Service

(VEPS) Transactions and Transactions at Certain Contactless-Only Acceptance

Devices – AP, Canada, CEMEA, Europe, and LAC Regions, ID# 0027503

LAC (Colombia)

Issuer Requirements to Evaluate Each Transaction for Card-Absent

Environment Transactions in Colombia

Effective 12 April 2024

Rule(s) impacted:

Section 1.7.4.1, Issuer Requirement to Evaluate Each Transaction, ID# 0029326

US Region-Specific Changes

There are no changes specific to this region in this publication.

ID# 0031036 Edition: Apr 2024 | Last Updated: New

Summary of Changes

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 62

Introduction

The Visa Rules

The Visa Core Rules and Visa Product and Service Rules

Introduction to the Visa Core Rules and Visa Product and Service Rules

Visa has established rules that are designed to minimize risks and provide a common, convenient,

secure, and reliable global payment experience while supporting geography-specific rules that

allow for variations and unique marketplace needs. They are set and modified by Visa to support

the use and advancement of Visa products and services, and represent a binding contract between

Visa and each Member.

The Visa Core Rules contain fundamental rules that apply to all Visa system participants and specify

the minimum requirements applicable to all Members to uphold the safety, security, soundness,

integrity, and interoperability of the Visa system.

The Visa Product and Service Rules contain rules that apply to Visa system participants based on

use of a product, service, the Visa-Owned Marks, VisaNet, the dispute resolution process, and other

aspects of the Visa payment system. The Visa Product and Service Rules also include operational

requirements related to the Visa Core Rules.

The Visa Supplemental Requirements are Visa- or third-party-administered documents or websites

that contain requirements beyond the content of the Visa Core Rules and Visa Product and Service

Rules (for example: Visa Product Brand Standards, BASE II Clearing Services, Payment Card Industry

(PCI) Card Production and Provisioning – Logical Security Requirements).

ID# 0020308 Edition: Apr 2024 | Last Updated: Apr 2017

Writing Conventions

The following conventions apply to the Visa Core Rules and Visa Product and Service Rules:

l

“Visa” refers to any Visa Region, office, management, or committee.

l

If the singular is used, it means the plural, and the plural means the singular. For example: “A

Merchant must...” means that “All Merchants must...”

l

Responsibility is assigned to a Member. For example: “A Merchant must…” means “An Acquirer

must ensure that its Merchant…”

Introduction

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 63

l

Capitalized words have a meaning defined in the Glossary, except for the names of some Visa

products or services, which are capitalized but not defined.

l

Defined terms are often combined.

ID# 0020313 Edition: Apr 2024 | Last Updated: Apr 2016

Changes to the Visa Core Rules and Visa Product and Service Rules

Changes to the Visa Core Rules and Visa Product and Service Rules are communicated and identified

as part of the “Summary of Changes” for each edition.

Unless an effective date is specified in the text for a change to the Visa Core Rules and Visa Product

and Service Rules, all changes are effective on the publication date.

ID# 0020315 Edition: Apr 2024 | Last Updated: Oct 2014

Unique Rule IDs and Additional Information

The bar below each rule contains the following information:

Information in Rule ID

ID# A unique 7-digit identification code that includes leading zeros. This unique ID remains with

each rule for the life of that rule.

Edition The month/year of the current edition of the Visa Core Rules and Visa Product and Service

Rules

Last

Updated

The month/year in which the rule was last changed

ID# 0020316 Edition: Apr 2024 | Last Updated: Oct 2015

Introduction

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 64

Part 1:

Visa Core Rules

1 Visa Core Rules

1.1 General

1.1.1 Governance

1.1.1.1 Applicability of Rules

All participants in the Visa system are subject to and bound by the Visa Charter Documents and the

Visa Rules, as applicable based on the nature of their participation and geography. In the event of any

conflicts between the Visa Charter Documents and the Visa Rules, conflicts will be resolved in the

following order of precedence:

l

Visa Charter Documents

l

Visa Core Rules

l

Published domestic rules within theEurope Region (if applicable)

l

Visa International Travelers Cheque Operating Regulations (if applicable)

l

V PAY Core Rules and VPAY Product and Service Rules (if applicable)

l

Visa Product and Service Rules

l

Visa Supplemental Requirements

Any use of or participation inany Visaservices or products not covered in the Visa Rules will be

governed by applicable participation agreements and associated documentation.

Previously, rules were contained in the Visa International Operating Regulations, Visa Europe

Operating Regulations, other operating regulations or rules, extension documents, and certificates of

incorporation and bylaws of various Visa entities.

The Visa Rules represent modifications and amendments to such existing Visa rules and

requirements, which continue in substance and effect except as expressly modified in the Visa Rules.

By reorganizing and renaming this body of requirements, Visa does not intend to modify the

meaning or enforceability of any Visa published documents, forms, or contracts to which Visa is a

party, or any contracts that are required by Visa to include provisions to comply with Visa’s certificate

of incorporation or bylaws, operating regulations, or other Visa requirements. Regardless of whether

this document or other documents refer to these requirements as the Visa International Operating

Regulations or by other prior naming conventions, such references are deemed to refer to and

incorporate the Visa Rules.

ID# 0007750 Edition: Apr 2024 | Last Updated: Apr 2023

13 April 2024 Visa Public 66

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1 Visa Core Rules

Visa Core Rules and Visa Product and Service Rules

1.1.1.2 Applicability of Processing Rules – Europe Region

In the Europe Region: A Member is not subject to or bound by processing rules in the Visa Core Rules

and Visa Product and Service Rules where it is indicated that such processing rules do not apply to a

Member.

A Member is subject to all applicable rules set out in the Visa Europe Operating Regulations –

Processingfor:

l

Interregional Transactions processed through Visa systems

l

Intraregional Transactions and Domestic Transactions processed through Visa systems, if the

Member has elected to use Visa as its Visa Scheme Processor

ID# 0029986 Edition: Apr 2024 | Last Updated: Oct 2016

1.1.1.3 Compliance with Laws and Regulations

Each Member must comply with all applicable laws, regulations, and other legal requirements

including, but not limited to, laws and regulations regarding banking, financial institutions, payment

systems, foreign currency exchange, money transmission, anti-money laundering, anti-terrorist

financing, sanctions (such as those administered by the US Department of the Treasury’s Office of

Foreign Assets Control or the Australian Government’s Department of Foreign Affairs and Trade),

privacy and security, consumer protection, and trademarks and copyright for each country in which

the Member operates. Each Member is also responsible for ensuring that any of its affiliates,

subsidiaries, parent companies, third-party agents, Merchants, and any other of its appointed agents

participating in Visa’s system comply with all applicable laws, regulations, and other legal

requirements applicable to each country in which its affiliates, subsidiaries, parent companies, third-

party agents, Merchants, and other appointed agents operate. Each Member is encouraged to

consult with its own legal counsel to ensure that it is in full compliance with all applicable laws,

regulations, and other legal requirements in each country in which the Member operates.

A Transaction must be legal in both the Cardholder’s jurisdiction and the Merchant Outlet’s

jurisdiction.

In the event of any conflict between the Visa Rules and any applicable laws or regulations, the

requirements of the laws or regulations govern.

ID# 0000385 Edition: Apr 2024 | Last Updated: Oct 2017

1.1.1.6 Use of the Visa Rules

The Visa Rules are only to be reviewed or used in connection with Visa payment services and must

not be used, modified, copied, downloaded, transferred, or printed in part or in total for any other

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Visa Core Rules

1 Visa Core Rules

Visa Core Rules and Visa Product and Service Rules

purpose without the express written permission of Visa.

The Visa Rules govern the relationship between Visa and its Members and their agents. The Visa

Rules do not constitute a contract, promise, or representation or confer any rights, privileges, or

claims of any kind as to any third parties.

Visa may amend, modify, delete, or otherwise change the Visa Rules at any time. Changes will be

reflected in the next edition of the Visa Rules.

Rules that do not have a geography-specific (Visa Region or country) indication in the title or

language of a rule apply to all Members unless noted otherwise. Geography-specific rules apply only

to the operations of Members within the relevant geography.

ID# 0007428 Edition: Apr 2024 | Last Updated: Oct 2014

1.1.1.7 Restricted Use of Visa Systems and Services

Any entity that accesses or uses a Visa system and/or service must both:

l

Restrict its use of the Visa system and/or service to purposes expressly approved by Visa

l

Comply with Visa requirements and documentation for system and/or service access and use

ID# 0003331 Edition: Apr 2024 | Last Updated: Oct 2017

1.1.1.8 Provision of Updates and Support for Visa Products and Services

Unless otherwise specified in the Visa Rules or agreed in a separate written agreement, Visa has no

obligation to provide replacements, updates, upgrades, modifications, or any other support and

maintenance for any Visa products or services.

In the event any updates are made available to Members or if Visa requires a Member to make

system changes, the Member must do all of the following:

l

Respond to and implement, as specified by Visa, the updates or system changes required by Visa

l

Ensure that its agreements with Cardholders, Merchants, Visa-approved manufacturers, Third-Party

Personalizers, and agents allow for the implementation of updates or system changes required by

Visa

l

Include in its agreements with Cardholders, Merchants, Visa-approved manufacturers, Third-Party

Personalizers, and agents the Member’s obligation to inform the contracted entity, in a timely

manner, of any major updates or system changes implemented by Visa or the Member

The updates shall be deemed part of the Visa products or services and subject to the applicable

terms and conditions under the Visa Rules.

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ID# 0029560 Edition: Apr 2024 | Last Updated: Apr 2020

1.1.1.9 Restriction on Use of Visa Materials

Unless otherwise expressly permitted in the Visa Rules, a Member must not, and must not permit or

enable others to, do any of the following:

l

Use or make copies, in whole or in part, of any aspect of any software, software development kits,

APIs, documentation, tools, or other materials provided to the Member in connection with a Visa

product, service, and/or program

l

Disclose or distribute any Visa materials or any implementations thereof

l

Reverse engineer, decompile, disassemble, or otherwise attempt to obtain the underlying ideas,

algorithms, structure, or organization of any Visa product or service, or any component thereof,

except to the extent that any of the foregoing are not permitted to be restricted under applicable

laws or regulations

l

Attempt to defeat, avoid, bypass, remove, deactivate, or otherwise circumvent any software

protection or security mechanisms in any Visa product or service, or any related component

l

Alter or remove any copyright, trademark, trade name, patent, or other proprietary rights notice,

legend, symbol, or the like appearing on or in any Visa materials

ID# 0030681 Edition: Apr 2024 | Last Updated: Apr 2020

1.1.1.10 Countries and Territories in Visa Regions

The Visa Regions are comprised of the countries and/or territories listed below.

Countries/Territories

American Samoa; Australia (including Cocos [Keeling] Islands, Heard Island and McDonald Islands, Norfolk

Island, Lord Howe Island, Macquarie Island); Bangladesh; Bhutan; British Indian Ocean Territory; Brunei;

Cambodia; Mainland China; Cook Islands; Crozet Islands; Democratic People’s Republic of Korea; Fiji

(including Rotuma Island); French Polynesia; Guam; Hong Kong; India; Indonesia; Japan; Kerguelen Island;

Kiribati (including Canton and Enderbury Islands, Christmas Island (Kiritimati), Fanning Island, Malden Island,

Starbuck Island, Washington Island); Laos; Macau; Malaysia; Maldives; Marshall Islands; Mascarene Islands;

Micronesia; Mongolia; Myanmar; Nauru; Nepal; New Caledonia; New Zealand (including Antipodes Island,

Auckland Island, Bounty Island, Campbell Island, Chatham Island, Kermadec Island, Stewart Island); Niue;

Northern Mariana Islands; Palau; Papua New Guinea; Pescadores Island; Philippines; Pitcairn Islands; Republic

of Korea; Rodrigues Island; Samoa; Singapore; Solomon Islands; Sri Lanka; St. Paul Island; Taiwan; Thailand;

Table 1-1: Asia-Pacific Region

13 April 2024 Visa Public 69

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Countries/Territories

Timor-Leste; Tokelau; Tonga; Tuvalu; US Minor Outlying Islands (including Baker Island, Howland Island,

Jarvis Island, Johnston Island, Midway Island, Palmyra Island, Wake Island); Vanuatu; Vietnam; Wallis and

Futuna

Table 1-1: Asia-Pacific Region (continued)

Countries/Territories

Canada

Table 1-2: Canada Region

Countries/Territories

Afghanistan; Albania; Algeria; Angola; Armenia; Azerbaijan; Bahrain; Belarus; Benin; Bosnia and Herzegovina;

Botswana; Bouvet Island; Burkina Faso; Burundi; Cameroon; Cape Verde; Central African Republic; Chad;

Comoros; Congo (Brazzaville); Côte d’Ivoire (Ivory Coast); Democratic Republic of the Congo; Djibouti; Egypt;

Equatorial Guinea; Eritrea; Eswatini; Ethiopia; Gabon; Gambia; Georgia; Ghana; Guinea; Guinea-Bissau; Iran;

Iraq; Jordan; Kazakhstan; Kenya; Kosovo; Kuwait; Kyrgyzstan; Lebanon; Lesotho; Liberia; Libya; Madagascar;

Malawi; Mali; Mauritania; Mauritius; Moldova; Montenegro; Morocco; Mozambique; Namibia; Niger; Nigeria;

North Macedonia; Oman; Pakistan; Qatar; Rwanda; Saint Helena, Ascension, and Tristan da Cunha (including

Gough Island); Sao Tome and Principe; Saudi Arabia; Senegal; Serbia; Seychelles; Sierra Leone; Somalia; South

Africa; South Sudan; State of Palestine; Sudan; Syria; Tajikistan; Tanzania; Togo; Tunisia; Turkmenistan;

Uganda; Ukraine; United Arab Emirates; Uzbekistan; Western Sahara; Yemen; Zambia; Zimbabwe

Table 1-3: Central and Eastern Europe, Middle East and Africa Region

Countries/Territories

Andorra; Austria; Bear Island; Belgium; Bulgaria; Channel Islands; Croatia; Cyprus; Czech Republic; Denmark;

Estonia; Faroe Islands; Finland (including Aland Islands); France (including French Guiana, Guadeloupe,

Martinique, Mayotte, Reunion, Saint Barthelemy, Saint Martin); Germany; Gibraltar; Greece; Greenland;

Hungary; Iceland; Republic of Ireland; Isle of Man; Israel; Italy; Latvia; Liechtenstein; Lithuania; Luxembourg;

Malta; Monaco; Netherlands; Norway; Poland; Portugal (including Azores, Madeira); Romania; San Marino;

Slovakia; Slovenia; Spain (including Canary Islands, Ceuta, Melilla); Sweden; Switzerland; Türkiye; United

Kingdom; Vatican City

Table 1-4: Europe Region

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Countries/Territories

Anguilla; Antigua and Barbuda; Argentina; Aruba; Bahamas; Barbados; Belize; Bermuda; Bolivia; Bonaire, Sint

Eustatius, and Saba; Brazil; British Virgin Islands; Cayman Islands; Chile; Colombia; Costa Rica; Cuba; Curacao;

Dominica; Dominican Republic; Ecuador; El Salvador; Falkland Islands; Grenada; Guatemala; Guyana; Haiti;

Honduras; Jamaica; Mexico; Montserrat; Nicaragua; Panama; Paraguay; Peru; Puerto Rico; Saint Kitts and

Nevis; Saint Vincent and the Grenadines; Sint Maarten; St. Lucia; Suriname; Trinidad and Tobago; Turks and

Caicos Islands; U.S. Virgin Islands; Uruguay; Venezuela

Table 1-5: Latin America and Caribbean Region

Countries/Territories

United States of America

Table 1-6: US Region

ID# 0027823 Edition: Apr 2024 | Last Updated: Apr 2023

1.1.1.12 Visa Canada Member Responsibilities – Canada Region

In the Canada Region: A Member must perform obligations imposed on Visa Canada under the Visa

Rules that arise out of Interchange or a Transaction resulting in Interchange between the Member

and a non-Member of Visa Canada.

A Member must not do anything to cause Visa Canada to violate the Visa Rules.

ID# 0003768 Edition: Apr 2024 | Last Updated: Oct 2014

1.1.1.13 Obligation to Comply with the Code of Conduct – Canada Region

In the Canada Region: All Members must abide by the Code of Conduct for the Credit and Debit Card

Industry as it may be amended from time to time and adopted by Visa(the “Code”).

Each Member acknowledges and agrees that Visa may interpret the Code in accordance with any

published interpretation bulletins or guidance issued by the Financial Consumer Agency of Canada.

Members must ensure that all participants for which the Member is responsible under the Visa Rules,

including participants that interact directly or indirectly with Merchants or Cardholders (including

without limitation, VisaNet Processors and Third Party Agents) on behalf of the Member must abide

by the Code.

13 April 2024 Visa Public 71

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Visa Core Rules and Visa Product and Service Rules

All Members are required, on an annual basis, to submit to Visa by 31 January of each year, an

officer’s Attestation of Compliance, confirming its compliance with the Code.

Visa may require periodic reviews to oversee and monitor compliance with the Code of Conduct and

will provide Members with a minimum of 30 calendar days’ notice of such reviews.

A Member that fails to submit a completed officer’s Attestation of Compliance or to provide Visa with

information required due to the review will be subject to a non-compliance assessment of CAD

100,000 per month of non-compliance.

Visa may, in its sole discretion, charge any Member or Members fees charged to Visa Canada by the

Financial Consumer Agency of Canada with respect to compliance with the Code, where such fee is

attributable to that Member or its VisaNet Processor or its Third Party Agent.

ID# 0025973 Edition: Apr 2024 | Last Updated: Apr 2020

1.1.1.14 Visa U.S.A., Inc. Member Responsibilities – US Region

In the US Region: A Member must perform all obligations imposed on Visa U.S.A. Inc. under the Visa

Rules that arise out of Interchange or a Transaction resulting in Interchange between the Member

and a non-Member of Visa U.S.A. Inc.

The Member must not do anything to cause Visa U.S.A. Inc. to violate the Visa Rules. An Acquirer is

responsible for Visa Transactions it submits into Interchange regardless of the Acquirer’s ability to

return the Transaction to the Merchant for any reason.

ID# 0000349 Edition: Apr 2024 | Last Updated: Oct 2017

1.1.1.15 Obligation to Comply with Code of Conduct – Europe Region (Germany)

In the Europe Region (Germany): A Member must comply with the Code of Conduct

(Verhaltenscodex).

An Acquirer must provide to its Merchants documentation outlining the relationship between the

Acquirer and the Merchant, which does not replace the written contract between the Acquirer and

Merchant.

An Acquirer must submit annually to Visa the following data:

l

Number of newly acquired Merchants

l

Number of closed Merchant accounts

ID# 0030042 Edition: Apr 2024 | Last Updated: Oct 2017

13 April 2024 Visa Public 72

Visa Core Rules

1 Visa Core Rules

Visa Core Rules and Visa Product and Service Rules

1.1.2 Local, Domestic, and Regional Rules and Private Agreements

1.1.2.3 Transaction Country Rules

Regardless of how an Authorization or Transaction is routed or where it is processed, a Transaction is

subject to the applicable Visa Rules affecting the Transaction Country. These rules may be

superseded by either Private Agreements or the operating regulations of Group Members.

Private Agreements must exclude Interchange originating from an Airline that participates in the

International Airline Program.

ID# 0008844 Edition: Apr 2024 | Last Updated: Apr 2020

1.1.3 Waivers

1.1.3.1 Waivers to the Visa Rules

A Member that cannot comply with a rule or requirement in the Visa Rules must submit a Waiver

request to Visa via its Visa representative.

If the Member cannot comply due to applicable laws or regulations that contravene the Visa Rules,

Visa may require proof of the specific laws or regulations, in English or accompanied by a certified

English translation.

Visa will notifythe Member in writing of its decision on a Waiver request. The Waiver is effective as

specified in such Notification.

Each Waiver granted by Visa is unique, may include specific conditions, and is limited only to the

specific circumstances of the individual request. A Member must not apply a previously granted

Waiver to any other future programs or services or consider a previously granted Waiver as

determining the outcome of future requests.

Visa may repeal, amend, extend, or revoke any Waiver upon Notification to the Member.

An approved Waiver extension request will incur an assessment, as specified in Section X.

ID# 0025926 Edition: Apr 2024 | Last Updated: Apr 2023

1.1.4 Operating Certificates

1.1.4.1 Operating Certificate Filing

A Member, Sponsored Member, or Non-Member Administrator must submit a complete and

accurate Operating Certificate that includes all Transaction volume specified by Visa, including

13 April 2024 Visa Public 73

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Visa Core Rules and Visa Product and Service Rules

Domestic Transactions (including On-Us Transactions), International Transactions, and Transactions

that are not processed through VisaNet, as applicable.

If a Member has a foreign Branch with an active Visa Program and/or an additional license, the

Member must submit a separate Operating Certificate for the foreign branch Transaction volume

and/or additional license Transaction volume.

A Sponsored Member must do one of the following:

l

Include its volume within its Sponsor’s total volume on the Operating Certificate

l

With prior Visa permission, submit its own Operating Certificate

The Member or Non-Member Administrator must use the currency and exchange rate provided by

Visa in the Operating Certificate tool.

The Operating Certificate must be executed by an authorized officer of the Member or Non-Member

Administrator.

The Member or Non-Member Administrator must maintain records that allow for an accurate

determination and verification of the information contained in each Operating Certificate and

provide the records upon Visa request.

When a Sponsored Member has more than one Sponsor over a single quarter, the Sponsor with the relationship with the

Sponsored Member at the end of the quarter must submit the Sponsored Member’s volume in its Operating Certificate

for the entire quarter.

ID# 0027829 Edition: Apr 2024 | Last Updated: Oct 2021

1.1.5 Confidentiality

1.1.5.1 Visa Confidential and Visa Restricted Materials – Member Responsibilities

A Member and its affiliates must comply, and must ensure that its Merchants and Agents comply,

with all of the following:

l

Maintain Visa Confidential and Visa Restricted information in strict confidence

l

Not disclose any Visa Confidential or Visa Restricted information, unless expressly permitted or

required by Visa

l

Store and handle Visa Confidential and Visa Restricted information in such a way as to prevent

unauthorized disclosure

l

Take reasonable measures to protect Visa Confidential and Visa Restricted information and treat it

with at least the degree of care with which a Member treats its own confidential and proprietary

information, or in case of Visa Restricted information, as follows:

13 April 2024 Visa Public 74

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– For information labeled or otherwise designated as Visa Restricted, in accordance with Visa

handling instructions, which may be delivered with its transmission or in its content

– For information labeled or otherwise designated as Visa Restricted – Personal Data, with the

strongest level of protection (including encryption or sufficient compensating controls, and

limited distribution for any transmissions) applied by the Member for its highly sensitive

information

l

Disclose Visa Confidential or Visa Restricted information only to those employees with specific

need to know

l

Immediately upon Visa request, return to Visa, or destroy, originals and all copies of any Visa

Confidential or Visa Restricted information in any medium and, if required by Visa, certify that it

has done so

l

Notify Visa immediately in the event that the Member becomes legally compelled to disclose any

Visa Confidential or Visa Restricted information and, if legally required to disclose any Visa

Confidential or Visa Restricted information, only disclose that portion that it is legally required to

disclose

l

Process and transfer personal data (whether or not it is classified as Visa Confidential or Visa

Restrictedinformation) in accordance with the Visa Rules and applicable laws or regulations

ID# 0000467 Edition: Apr 2024 | Last Updated: Oct 2021

1.1.5.2 Confidentiality of VisaNet Information

Information regarding VisaNet is proprietary and Visa Confidential. A Member and its Merchants and

agents must take appropriate action, by agreement or otherwise, to ensure that its employees or

agents with access to VisaNet are all of the following:

l

Advised of the confidential and proprietary nature of these systems

l

Prohibited from providing access to or disclosing these systems to any third party

l

Prohibited from using these systems for any purpose not authorized in the Visa Rules

ID# 0003669 Edition: Apr 2024 | Last Updated: Apr 2020

1.1.5.3 Use or Disclosure of Confidential Information

A Member must not use any Visa confidential or proprietary information for any purpose other than

to operate its Visa Program as reasonably contemplated under the Visa Rules, unless expressly

permitted in writing and in advance, or required by Visa. A Member must not publish, disclose,

convey, or distribute to any person or organization, or use for filing patents, any Visa confidential or

13 April 2024 Visa Public 75

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proprietary information (including, but not limited to, documents, ideas, products, and data) without

the prior written approval of Visa.

This does not apply to:

l

A third party (organization, or person, including contractors), if both of the following apply:

– The third party is providing services to the Member and the disclosure is required to perform

services directly related to the Member’s Visa Program

– The third party does not compete with Visa or its Members with respect to their Visa Programs

l

The Member’s parents or subsidiaries that do not participate in a competing payment program

l

Information that has been publicly released by Visa

A Member that discloses information to a third party must havea written agreement with the third

party that it:

l

Will not disclose the confidential information to any other third party

l

Will use the confidential information only to provide services to the Member for use only with the

Member’s Visa products and services

Any confidential information disclosed to the third party must comply with all of the following:

l

Remain solely the property of Visa

l

Be returned to Visa immediately upon Visa request

l

Be returned to the Member immediately upon termination of the relationship that required use of

the confidential information

The Member is responsible for the third party’s compliance with these conditions and must not allow

a non-Member VisaNet Processor to use the V.I.P. System or BASE II unless the non-Member VisaNet

Processor has delivered to Visa a completed VisaNet Letter of Agreement.

Unauthorized use or disclosure of Visa Confidential information by a Member, or by a third party to

whom a Member has disclosed Visa Confidential Information, in connection with any patents or

patent applications grants to Visa a fully paid-up, royalty-free, worldwide, irrevocable license to

exercise all rights under that patent, including the right to grant and authorize sublicenses.

ID# 0006467 Edition: Apr 2024 | Last Updated: Oct 2020

1.1.5.4 Confidentiality of Visa Systems Information

A Member, VisaNet Processor acting on behalf of a Member, Merchant or its agent, or Visa Direct

Connect Merchant

must take appropriate action to ensure that its employees or agents with access

to VisaNet or related documentation comply with all of the following:

13 April 2024 Visa Public 76

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l

Are advised of the confidential and proprietary nature of these systems and documentation

l

Use their best efforts to protect the VisaNet Access Points

l

Are prohibited from both:

– Providing access to or disclosing these systems and documentation to any third party

– Using these systems and documentation for any purpose not authorized in the Visa Rules

A Member, Merchant or its agent, or Visa Direct Connect Merchant

must not disclose any

confidential information of Visa or its subsidiaries to a non-Member.

In the Europe Region: This rule does not apply. Where a Member uses Visa for processing, as specified in Section 1.1.1.2,

Applicability of Processing Rules – Europe Region, it must refer to Visa Europe Operating Regulations – Processing.

ID# 0027073 Edition: Apr 2024 | Last Updated: Apr 2020

1.1.5.5 Visa Disclosure of Confidential Member Information

Visa and its subsidiaries will not disclose to any third party any confidential, proprietary matters of

any Member including, but not limited to, documents, ideas, products, and data, other than for any of

the following:

l

Disclosure in the ordinary course of business to provide services to a Member or a Member’s

designated Agent, including, but not limited to, all of the following:

– Completing a Transaction

– Risk control

– Dispute resolution

– Marketing services

l

Disclosure with the consent of the Member

l

Disclosure of data that is aggregated so as not to disclose the data of any single Member

l

Other disclosure that is in accordance with applicable laws or regulations

ID# 0029983 Edition: Apr 2024 | Last Updated: Apr 2017

1.1.5.6 Visa Use and Disclosure of Confidential Consumer Cardholder Information –

US Region

In the US Region: Visa and its subsidiaries will not use or disclose Confidential Consumer Cardholder

Information to third parties, other than for any of the following:

13 April 2024 Visa Public 77

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l

Use or disclosure in the ordinary course of business to provide services to a Member or a

Member’s designated Agent, including, but not limited to, all of the following:

– Completing a Transaction

– Risk control

– Dispute resolution

– Marketing services

l

Use or disclosure with the consent of the Cardholder

l

Other use or disclosure that is in accordance with applicable laws or regulations

ID# 0000508 Edition: Apr 2024 | Last Updated: Oct 2014

1.1.6 Visa Rights

1.1.6.1 Visa Ownership of Intellectual Property

A participant in the Visa system must recognize Visa’s right, title, and interest in and to and

ownership of Visa technology, products, and services (including the intellectual property embodied

within, including the Visa name, Visa Marks, and Visa technology), and agree to protect these

ownership rights and the integrity of the Marks by complying with the applicable Visa Rules in all

activities, including issuing, acquiring, and processing. No intellectual property rights are or shall be

considered assigned by Visa to a Member under the Visa Rules.

A Member or any other party does not have any property or other right, claim, or interest, including

any patent right, trade secret right, or copyright interest, in VisaNet, or in any systems, processes,

equipment, software, data, or materials that Visa or its subsidiaries use with VisaNet, or in connection

with a Visa Program, or in connection with a Visa Innovation Center engagement, except for

Merchant- or Member-supplied data or equipment.

ID# 0007727 Edition: Apr 2024 | Last Updated: Oct 2020

1.1.6.2 Visa Right to Monitor, Audit, Inspect, and Investigate

At its sole discretion, at any time, Visa may, either itself or through an agent, do any of the following:

l

Investigate, review, audit, or inspect a Member, or the Member’s agents, Merchants, Marketplaces,

Sponsored Merchants, Payment Facilitators, or Digital Wallet Operators, including by inspecting

the premises and auditing the books, records, and procedures of the Member, agent, Merchant,

Marketplace, Sponsored Merchant, Payment Facilitator, or Digital Wallet Operator to ensure that it

is complying with the Visa Charter Documents,Visa Rules, and applicable brand and security

13 April 2024 Visa Public 78

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standards and procedures, and operating in a safe and sound manner

l

Monitor, investigate, review, audit, or inspect the premises, books, records, or procedures of a Visa-

approved vendor or Third-Party Personalizer, including security and quality control procedures of

each Visa-approved manufacturer and Third-Party Personalizer

l

Obtain from any Visa-approved manufacturer or Third-Party Personalizer a production-run sample

of a Card that includes all security features

l

In addition, in the Europe Region:

– Require a Visa Commercial Card Issuer to impose an obligation on its agents and any other

entities that participate in the Issuer’s multinational programs to permit Visa to audit those

agents and other entities

– Require a Merchant Agreement with a Merchant that sells Prepaid Cards to allow Visa to audit

the records and procedures of the Merchant

A Member must cooperate fully, and ensure that its agent, Merchant, Marketplace, Sponsored

Merchant, Payment Facilitator, or Digital Wallet Operator cooperates fully, with Visa in any such

investigation, inspection, audit, or review. This cooperation includes providing access to the premises

and to all pertinent records, including financial reports,and releasing any information to Visa upon

request within the stipulated timeframe.

Any investigation, inspection, review, or audit will be conducted at the Member’s expense, unless

otherwise specified in the applicable Fee Schedule.

ID# 0007121 Edition: Apr 2024 | Last Updated: Apr 2020

1.1.6.3 Right to Impose Conditions on Visa Product or Visa Service Participation

Participation in or use of a Visa service or Visa product is at the discretion of Visa, which may limit or

impose conditions on its use, and may discontinue the service or product at any time.

ID# 0028039 Edition: Apr 2024 | Last Updated: Oct 2014

1.1.6.4 Right to Use Patents Relating to Visa Tokenization Services

In partial consideration for participation in or use of Visa tokenization services, a Member and its

affiliates grant Visa a fully paid-up, royalty-free, worldwide, non-exclusive, irrevocable, non-

terminable license and covenant not to sue (and not to assist or provide consent to sue) under

patents to make, have made, use, offer for sale, sell, import, and otherwise provide Visa tokenization

services (or any portion thereof) and to practice any method, process, or procedure in connection

therewith. The Member and its affiliates grant and extend the foregoing license and covenant not to

sue to Visa tokenization service participants, users, business partners, contractors, agents, processors,

and service providers and hereby irrevocably covenant not to rely upon or refer to the Visa

13 April 2024 Visa Public 79

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tokenization service or any portion, functionality, or other characteristics thereof in any assertion or

allegation of patent infringement (direct or indirect) or to assist or provide consent to do so.

ID# 0029513 Edition: Apr 2024 | Last Updated: Oct 2021

1.1.6.5 Right to Use Member Feedback

Visa does not wish to receive any feedback (including comments, ideas, suggestions, submissions,

data, information, changes, adaptations, alterations, corrections, updates, upgrades, improvements,

enhancements, extensions, or implementations relating to Visa products or services or other Visa

technology, or in connection with a Visa Innovation Center engagement or a Member’s use of Visa

Innovation Center services) unless Visa is free to commercialize such feedback generally for the

benefit of all Members, customers, and partners. A Member is not obligated to provide or develop

any feedback. However, if a Member or any of its affiliates provides or develops any feedback, then

Visa and Visa affiliates shall have and are granted the right to use, disclose, distribute, make,

reproduce, or commercialize generally for itself and others, and otherwise exploit any feedback and

related intellectual property rights.

ID# 0029514 Edition: Apr 2024 | Last Updated: Oct 2020

1.1.6.6 Investigation Response Requirement

A Member must respond to and provide information requested by Visa for a Visa Rules violation that

is under investigation.

The Member must submit its response and information, within the time period specified, by mail,

courier, facsimile, hand, email, or other electronic delivery method. The Notification response is

effective when posted, sent, or transmitted by the Member or its agent to Visa.

ID# 0025974 Edition: Apr 2024 | Last Updated: Oct 2014

1.1.6.7 Right to Request Cards

Visa may request a functional Card or Proprietary Card or access to any New Channel associated with

a BIN licensed or used by an Issuer.

Upon written request, an Issuer must both:

l

Provide Visa with a Card or a Proprietary Card or access to any New Channel and its associated PIN

within 30 calendar days

l

Personalize the Card or Proprietary Card or New Channel, as specified by Visa

ID# 0026009 Edition: Apr 2024 | Last Updated: Apr 2020

13 April 2024 Visa Public 80

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1.1.6.8 Visa and Members’ Rights to Use General Skills or Knowledge

Neither a Member nor Visa (including their affiliates) will be restricted with respect to general skills or

knowledge acquired by its employees or any ideas, information, or understandings retained in their

unaided human memory, or in each connection with the use of, offering of, or participation in any

processing, product, program, service, specification, standard, software, hardware, or firmware

referenced in the Visa Rules or created, supplied, required, licensed, or approved by Visa, provided

that this shall not be construed as providing any right or license to use or disclose any Cardholder

data or Visa interfaces, service guides, specifications, or other technical documentation provided by

Visa. The right to use or exploit this information does not include any license to patents or patent

applications.

ID# 0030679 Edition: Apr 2024 | Last Updated: Oct 2020

1.1.7 Use of VisaNet

1.1.7.1 Non-Assignable Right to Use VisaNet

A Member’s, VisaNet Processor’s, or Visa Direct Connect Merchant’s

right to use VisaNet is not

assignable and its duties are non-delegable without prior written consent from Visa. However, a

Member or Visa Direct Connect Merchant

may use a non-Member VisaNet Processor that has

executed and delivered to Visa a VisaNet Letter of Agreement.

A VisaNet Processor or Visa Direct Connect Merchant

acknowledges and agrees that the VisaNet

endpoint connectivity is a Visa asset and not transferable without the express written consent of Visa.

A VisaNet Processor or Visa Direct Connect Merchant must not transfer its VisaNet endpoint to

another Member or Agent. It must notify Visa in writing at least 90 days before the effective date of a

change, for example, but not limited to, a sale of all or substantially all of the assets of the operation,

acquisition, merger, ownership change, or financial restructuring, and promptly provide Visa with any

related information that is requested.

In the Europe Region: This rule does not apply. Where a Member uses Visa for processing, as specified in Section 1.1.1.2,

Applicability of Processing Rules – Europe Region, it must refer to Visa Europe Operating Regulations – Processing.

ID# 0003081 Edition: Apr 2024 | Last Updated: Oct 2019

1.1.8 Liabilities and Indemnifications

1.1.8.1 Taking Responsibility

Each Member is solely responsible for its issuance of Visa products and acquiring of Merchants to

accept Visa products, including responsibility for settlement of Transactions, compliance with the Visa

Charter Documents and the Visa Core Rules and Visa Product and Service Rules, and ensuring that its

13 April 2024 Visa Public 81

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Visa programs comply with all applicable legal and regulatory requirements. Each Member shall

Indemnify Visa for and against Claims and Liabilities arising out of or in connection with its issuance

of Visa products and acquiring of Merchants, and broadly disclaims liability against Visa for such

activities.

ID# 0007758 Edition: Apr 2024 | Last Updated: Apr 2023

1.1.8.2 Member Participation in Visa Network

A Member understands that Visa provides a network and desires to provide programs, products, and

services to enable partners, end users, and other participants to benefit widely from the network. In

exchange for participation in and benefits resulting from such programs, products, and services, a

Member agrees not to (and not to authorize, assist, or encourage others to) assert against Visa, its

affiliates, their contractors, agents, and service providers working on their behalf to provide such Visa

programs, products, and services, or other participants, any patent infringement claim involving any

activity regarding the program, products, services, and associated materials provided by Visa.

ID# 0030682 Edition: Apr 2024 | Last Updated: Apr 2020

1.1.8.24 Responsibility for Losses Caused by VisaNet Processors

A Member is responsible for any and all losses caused by its VisaNet Processor. All Members using a

Clearing or authorizing VisaNet Processor, whether a Member or non-Member, are jointly and

severally responsible for the proper performance by that VisaNet Processor of all the requirements of

the Visa Rules.

ID# 0025873 Edition: Apr 2024 | Last Updated: Oct 2014

1.1.8.25 Limitation of Liability for VisaNet Processors

A Member may limit its liability for the failure of a VisaNet Processor if it provides Visa with an

updated regional client information questionnaire showing that it had terminated the VisaNet

Processor relationship before the failure.

This limitation of liability is effective upon receipt by Visa of Member notification.

ID# 0025887 Edition: Apr 2024 | Last Updated: Oct 2014

1.1.8.30 Member Responsibility for Agents – Europe Region

In the Europe Region: A Member must include in its agreements with its respective agents a term that

provides that the Member is responsible for the acts or omissions of the agents.

13 April 2024 Visa Public 82

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ID# 0029767 Edition: Apr 2024 | Last Updated: Oct 2016

1.1.8.55 Visa Central Travel Account – Issuer Liability

An Issuer assumes full liability for any misuse on physical Cards issued on a Visa Central Travel

Account.

ID# 0026397 Edition: Apr 2024 | Last Updated: Oct 2019

1.1.8.56 Liability for Misencoded Cards

Visa assigns liability for payment of Transaction Receipts resulting from the use of a misencoded Card

as follows:

l

To the Acquirer that received the Transaction Receipt, if the misencoded Card bears a BIN that was

not assigned to an Issuer. The Acquirer is liable until both:

– The misencoded Card is recovered

– Visa identifies the Issuer that ordered its manufacture

l

To the Issuer to which the BIN is assigned, if an Acquirer receives a misencoded Card bearing a

valid BIN but an invalid Account Number. The Issuer is liable both:

– If the Acquirer presents the Transaction Receipt within 180 calendar days of the Transaction

Date

– Until the Issuer that ordered the manufacture of the Card is identified

In the Europe Region: There is no time limit on a Member’s right to reassign liability to the Issuer.

ID# 0001813 Edition: Apr 2024 | Last Updated: Apr 2020

1.1.8.57 Liability for Misembossed or Misencoded Cards – US Region

In the US Region: Visa assigns liability for payment of Transaction Receipts resulting from the use of

misembossed or misencoded Cards based on the following priorities in the order shown:

l

Issuer that appears on the misembossed or misencoded Card, if the Card has been recovered

l

Issuer whose BIN appears on the Transaction Receipt, if the misembossed or misencoded Card has

not been recovered or if the name of the Issuer does not appear on the Card

l

Issuer that first received the Transaction Receipt. If the misembossed or misencoded Card is

recovered within 12 months of the Transaction Date, the Issuer may transfer liability for the

Transaction Receipt to the Issuer that appears on the misembossed or misencoded Card.

13 April 2024 Visa Public 83

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ID# 0001817 Edition: Apr 2024 | Last Updated: Oct 2019

1.1.8.58 Liability for Push-to-Account Original Credit Transactions (OCTs)

Visa shall only be liable for the loss or misdirection of funds for push-to-account Original Credit

Transactions if such loss or misdirection is solely attributable to Visa, subject to the limitations on

Visa’s liability set out in the Visa Core Rules and Visa Product and Service Rules. Visa shall not be liable

for any indirect, incidental, consequential, special, punitive, or exemplary damages, or any loss of

revenue, profits or business, failure to realize anticipated savings or benefits, costs of delay, costs of

lost or damaged data or documentation, loss of goodwill, loss of opportunity or time, or Claims or

Liabilities to third parties, all whether in contract, strict liability or tort (including negligence), and

regardless of whether Visa knew or had reason to know of the possibility of the loss, injury, or

damage in question. For the avoidance of doubt, Visa shall have no liability for any action or omission

of downstream actors including, but not limited to, partners, providers, banks, clearing networks,

banking systems, and/or processing schemes.

ID# 0030723 Edition: Apr 2024 | Last Updated: Oct 2020

1.2 Licensing and Numerics Management

1.2.1 Licensing – General Membership

1.2.1.1 BIN and Acquiring Identifier Use and Jurisdiction

A BIN Licensee or an Acquiring Identifier Licensee or a BIN Licensee’s or Acquiring Identifier

Licensee’s Sponsored Member must use a BIN or an Acquiring Identifier only:

l

For programs and activity as agreed and licensed by Visa

l

As specified by Visa requirements and procedures for licensing and use

l

In a country in which the BIN Licensee or Acquiring Identifier Licensee is licensed

A BIN or an Acquiring Identifier is licensed for use in a single country, except as specified for the

following:

l

Visa Multinational Program

l

Visa Prepaid program

l

International Airline Program

l

In the Europe Region: A Member that has passported its license to a Host Country in line with EU

passporting legislation

13 April 2024 Visa Public 84

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Visa will recover a BIN or an Acquiring Identifier that remains uninstalled in Visa systems for 12

months after its assignment.

In the Europe Region (European Economic Area [EEA]): A Card with more than one payment scheme,

issued or reissued on or after 23 April 2022, must be issued on a BIN specific to that co-badged

program and be licensed by Visa.

ID# 0001250 Edition: Apr 2024 | Last Updated: Apr 2022

1.2.1.3 Prohibition of BIN or Acquiring Identifier Sale or Exchange

A BIN Licensee or an Acquiring Identifier Licensee must not sell, rent, or exchange any BIN or

Acquiring Identifier. In the event of a portfolio sale or merger, the BIN Licensee or Acquiring Identifier

Licensee is responsible for notifying Visa.

ID# 0001238 Edition: Apr 2024 | Last Updated: Oct 2019

1.3 Use of Marks

1.3.1 Marks License

1.3.1.1 Visa Proprietary Rights to the Visa-Owned Marks and Visa Brand Name

Members acknowledge the proprietary rights of Visa and that unauthorized or inappropriate use of

the Visa-Owned Marks and Visa Brand Name may cause Visa irreparable damage or injury. Visa has

the full authority to enforce all Visa rules governing Members, Merchants, agents, and other entities

that use the Visa-Owned Marks and Visa Brand Name.

ID# 0007432 Edition: Apr 2024 | Last Updated: Oct 2014

1.3.1.2 Infringement Proceedings Regarding the Visa-Owned Marks

Unless Visa grants express consent, Visa reserves the sole right to initiate infringement proceedings

or other challenges involving any use of the Visa-Owned Marks.

ID# 0006462 Edition: Apr 2024 | Last Updated: Oct 2014

1.3.1.3 Denotation Requirements for Visa-Owned Marks

A Member must not use any denotation or legend of Marks registration or ownership in connection

with the Visa-Owned Marks, except as required or approved by Visa. Upon the Member’s

13 April 2024 Visa Public 85

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writtenrequest, Visa will both:

l

Advise whethera denotation or legend must be used in a specific country

l

Provide the appropriatedenotation or legend to be used with Visa-Owned Marks

ID# 0006464 Edition: Apr 2024 | Last Updated: Apr 2017

1.3.2 General Use of Marks

1.3.2.1 Visa Program Marks List

The Visa Program Marks include:

l

Effective through 31 October 2023 Visa Flag Symbol

l

Visa Brand Mark

l

Visa Brand Name

l

Visa wordmark

l

Dove design

l

Any other Mark that Visa adopts for use with the Visa Program

ID# 0006267 Edition: Apr 2024 | Last Updated: Apr 2022

1.3.2.2 Use and Protection of the Visa-Owned Marks

The Visa-Owned Marks must appear exactly as specified in the Visa Product Brand Standards.

A Member must cooperate with Visa to ensure protection of each of the Visa-Owned Marks and must

ensure that all use of the Visa-Owned Marks, as well as the nature and quality of all services rendered

under these Marks, complies with the Visa Rules.

If requested, a Member must supply Visa with samples of any materials produced by or for the

Member that bear or generate a Visa-Owned Mark.

ID# 0003581 Edition: Apr 2024 | Last Updated: Apr 2022

1.3.2.3 Restricted Use of the Visa-Owned Marks

A Member must use the Visa-Owned Marks, including associated elements, only for the following:

13 April 2024 Visa Public 86

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l

To denote or promote a Visa Program or Visa products, offers, sponsorships, services, processing,

or acceptance

l

To promote a Member’s Visa Program

ID# 0006308 Edition: Apr 2024 | Last Updated: Oct 2014

1.3.2.4 Member Use of Country Name with the Visa-Owned Marks

A Member must not use the name of a country with the Visa Brand Name or any other Visa-Owned

Mark in its corporate name or other business name, unless Visa has granted exclusive jurisdiction to

the Member under the Visa International Certificate of Incorporation and By-Laws and has granted

express permission.

A country name may be used in a Member’s corporate name in which the country name is an integral

part.

ID# 0007643 Edition: Apr 2024 | Last Updated: Oct 2016

1.3.2.5 Use of “Visa” in Group Member Corporate Identity

In a country with a single Group Member, the Group Member may use “Visa” as a part of its corporate

legal name and identity, as permitted in the Visa Rules.

In a country with multiple Group Members, a Group Member must not use “Visa” (including the Visa-

owned Marks) as part of its corporate legal name or identity. When multiple Group Members exist in

the same country, 12 months after the formation of a new Group Member, an existing Group

Member must not use the name “Visa” in its corporate name and identity.

ID# 0006274 Edition: Apr 2024 | Last Updated: Oct 2016

1.3.2.6 National Organization Use of Visa Name

In the APRegion, Canada Region, CEMEARegion, LACRegion, US Region: A National Organization

established in compliance with Article XVI of the Visa International Certificate of Incorporation and

By-Laws may use “Visa” as part of its corporate legal name and identity, as provided in the Visa Rules.

In the Europe Region: A National Organization established in compliance with the Visa Europe

Limited Membership Regulations must not use “Visa” or any of the Visa-Owned Marks as part of its

corporate legal name and identity, unless Visa had granted consent to do so before 1 October 2007.

ID# 0006276 Edition: Apr 2024 | Last Updated: Oct 2016

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1.3.2.7 “Visa” as Part of Corporate Identity

A Member must obtain written approval from Visa to use the name “Visa” or any other Visa-Owned

Mark as part of its corporate name or identity. If permission is granted, the name or Mark must be

used:

l

In the Member’s corporate name, with the country identifier. The name “Visa” must not be used

without the country identifier.

l

In all media (for example, business cards, letterhead, press releases, websites), with a clear

indication of actual corporate identity, including full legal name

l

In a contract or legal instrument with third parties. The Member must clearly state that it does not

have the authority to act (and is not acting) as an agent of, or represent, Visa or any affiliate of Visa.

l

Solely for the promotion of Visa products and services

ID# 0007277 Edition: Apr 2024 | Last Updated: Oct 2016

1.3.2.8 Ownership of Visa-Owned Marks

A Member must not state or imply that it is the exclusive owner or provider of any Visa-Owned Mark,

Visa Card Product, or Visa Program, except as otherwise permitted in the Visa Rules.

ID# 0006503 Edition: Apr 2024 | Last Updated: Oct 2016

1.3.2.9 Visa Endorsement of Goods/Services

A Member must not use any of the Visa-Owned Marks to indicate that Visa endorses, is identified

with, or sponsors goods or services other than those of Visa.

ID# 0006555 Edition: Apr 2024 | Last Updated: Oct 2014

1.3.2.11 Use of Visa-Owned Marks in Marketing Materials

In marketing collateral, a Member must not use:

l

A Visa-Owned Mark in such a way that it could be mistaken for an actual Card and used in a

Transaction

l

The Visa Brand Name in any classified advertising section, excepttoindicate the availability of Visa

Program services and other Card services

l

The Visa Brand Name on a check

ID# 0008273 Edition: Apr 2024 | Last Updated: Oct 2016

13 April 2024 Visa Public 88

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1.3.2.12 Card Reproduction Prohibition

A Member must not distribute or display a reproduction of a Card as an indication of acceptance of

Visa products at the Point-of-Transaction.

Only the Visa Brand Mark may be used to denote acceptance at the point of sale.

ID# 0006329 Edition: Apr 2024 | Last Updated: Oct 2014

1.3.2.13 Obscured/Defaced Visa-Owned Marks

No portion of a Visa-Owned Mark may be obscured, distorted, or defaced.

A Visa-Owned Mark that is a graphic design must not be used separately.

ID# 0003578 Edition: Apr 2024 | Last Updated: Oct 2014

1.3.3 Integrity Risk

1.3.3.1 Protecting the Visa Brand Reputation

No activities or materials may infringe, dilute, denigrate, or impair the goodwill and/or reputation of

the Visa brand or Visa-Owned Marks.

ID# 0007762 Edition: Apr 2024 | Last Updated: Oct 2014

1.3.3.2 Prohibition of Marks Infringement and Brand Denigration

A Member’s Visa Card Program, Visa Electron Program, Visa Secure, or Visa TravelMoney Program

materials, including Global Co-branded Card and Affinity/Co-Branded Card materials or other

Member materials using any Mark(s) of the Visa Card Program, must not contain any matter that

would tend to infringe, dilute, degrade, or denigrate any of the Visa-Owned Marks, Visa products,

Visa services, or any Member or Merchant or impair the reputation or goodwill of Visa or the goodwill

associated with the Marks.

An Issuer that engages in Dual Payment Card Marketing must ensure that all communications and

marketing material relating to Marks, products, or services of a non-Visa general purpose payment

card network, as designated by Visa, are not positioned in conjunction with Visa-Owned Marks,

products, or services in a manner that dilutes or denigrates the Visa brand.

ID# 0025557 Edition: Apr 2024 | Last Updated: Apr 2019

13 April 2024 Visa Public 89

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1.3.3.3 Marks Use and Marketing Restrictions

A Member must not adopt any Mark, or market, either directly or indirectly, any Visa product or

service to consumers, Merchants, or other Members in a manner that has the likely effect of

confusing, misleading, defrauding, or deceiving such consumers, Merchants, or Members, either as to

the program, product, or service or the source, affiliation, sponsorship, or association of such

program, product, or service. Such prohibited acts include, without limitation, making direct or

indirect, false, confusing, or misleading statements or failing to disclose a material fact about the

programs, products, or services, or any aspect thereof, of a Member, Visa, another Member, a

Merchant, or a competitor.

ID# 0025558 Edition: Apr 2024 | Last Updated: Oct 2014

1.3.3.4 Integrity Risk and Use of the Visa-Owned Marks

A Member must not use the Visa-Owned Marks:

l

In any manner that may bring the Visa-Owned Marks or Visa Inc. or its affiliates into disrepute

l

In relation to, or for the purchase or trade of, photographs, video imagery, computer-generated

images, cartoons, simulation, or any other media or activities including, but not limited to, any of

the following:

– Child sexual abuse materials

– Incest

– Bestiality

– Rape (or any other non-consensual sexual behavior)

– Non-consensual mutilation of a person or body part

A Member that does not comply with these requirements will be subject to non-compliance

assessments prescribed under the Visa Integrity Risk Program.

ID# 0007283 Edition: Apr 2024 | Last Updated: Apr 2023

1.3.4 Marketing, Promotion, and Advertising Materials

1.3.4.1 Visa Review of Brand, Sponsorship, and Marketing Materials

A Member must obtain prior written approval from Visa for all of the following:

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l

Proposed designs for all form factors intended for use in Visa payments in a physical or digital

form.

1,2

These must be submitted to Visa before production and each time the design is changed.

l

Use of any Visa-Owned Mark in the Member’s sponsorship of any events, including a specific

sporting, musical, artistic, or other event.

The Member must provide all advertising, promotions,

and public relations material for each country in which the sponsorship activity will occur. If a

Member plans sponsorship activities in an additional country at a later date, it must submit a new

request.

l

Dual Payment Card Marketing

(including all offers, solicitations, promotions, and communications

that include any Visa-Owned Marks or Visa-branded products), before production and distribution

l

In the US Region: Use of Limited Acceptance signage for any purpose other than those permitted

in the Visa Rules

l

In the US Region: All marketing materials or other customer communications pertaining to any of

the core and optional services, as specified in the implementation materials available from Visa,

before production and distribution

A Member must submit brand or marketing-related materials containing a Visa-Owned Mark for

review if requested by Visa.

A Member must use each Visa-Owned Mark within the scope of the written approval from Visa. After

Notification from Visa, a Member must correct any improper use of any Visa-Owned Mark.

Visa review or approval of a Card design or brand or marketing-related materials does not:

l

Replace the need for a Member to consult with its own legal counsel regarding the use of a Card

design or brand or marketing-related materials

l

Offer legal protection from possible infringement or other types of actions

l

Relieve the Member of its responsibility for accurate disclosure and compliance with legal and

regulatory requirements

In the US Region: A Member must not use the Visa-Owned Marks in connection with a Member’s

promotion, offer, or solicitation of a Visa Card not defined as a US Covered Visa Debit Card, or the

maintenance of a US Cardholder relationship for a Visa Card not defined as a US Covered Visa Debit

Card, together with Marks that are associated with payment card products issued by the American

Express Company, Discover Financial Services, and their subsidiaries or affiliates (including, by way of

example and not limitation, “American Express,” “Optima,” “Discover,” “Bravo,” “Novus,” and

“Membership Rewards”) or together with Marks associated with any other payment card company

deemed competitive by the Board of Directors, if such Marks are owned or controlled by such

competitors.

In the US Region or a US Territory: A Member may use the Marks of the American Express Company,

Mastercard Worldwide (including Maestro), Discover Financial Services, or the subsidiaries or

affiliates of these entities or other entities deemed competitive by Visa in connection with a

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Member’s promotion, offer, or solicitation of a US Covered Visa Debit Card, or the maintenance of a

Cardholder relationship for a US Covered Visa Debit Card.

Visa in its discretion may retain and use digital design art provided by a Member in connection with the Member’s

participation in a Visa-sponsored or Visa-owned service. Visa may also provide this digital design art to a Token requestor

to display enrolled Cards in a digital wallet application or to an Acquirer, a VisaNet Processor, or a Visa Scheme Processor

that participates in the Visa Digital Commerce Program (VDCP) or to a Token Requestor or Token Service Provider that

participates in the Visa Digital Enablement Program (VDEP).

In the Europe Region: An Issuer must submit a completed Card Design Member Self-Certification Form for the appropriate

product.

Not applicable to the purchase of advertising not specifically tied to the sponsorship of these events.

In the AP Region: Dual Payment Card Marketing is not allowed for Visa Infinite Business Cards and Visa Ultra High Net

Worth Cards.

ID# 0027788 Edition: Apr 2024 | Last Updated: Oct 2023

1.3.4.2 Member Identification

A Member must identify itself by city

and principal name, and may substitute a local Branch name

and city, if desired, on all supplies, materials (including broadcast), and oral or written solicitations

sent to current or prospective Cardholders or Merchants. A Member must not state or imply in these

materials that any other Member’s Cards or Merchant materials are being replaced, are invalid, or

should be destroyed. A Member must not state or imply that Visa provided or endorsed the materials

unless Visa designed them for Member use.

In the Europe Region: This does not apply.

ID# 0006311 Edition: Apr 2024 | Last Updated: Oct 2016

1.3.4.3 Merchant Use of the Visa-Owned Marks in Promotions and Advertising

A Member must not allow a Merchant or other entity to use a Visa-Owned Mark for promotional or

advertising purposes in any media, unless:

l

The Visa Rules permit its use

l

The Member distributes the material containing the Visa-Owned Mark

l

In the US Region: The Member’s name and city appear on the material containing the Visa-Owned

Mark, as applicable

ID# 0008277 Edition: Apr 2024 | Last Updated: Oct 2014

13 April 2024 Visa Public 92

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1.3.4.4 Use of Competitive Marks with the Visa-Owned Marks

A Member may use certain Visa Program Marks on items other than Cards or for sponsorship

activities with the Marks of the following or its subsidiaries or affiliates:

l

American Express Company

l

Discover Financial Services

l

Mastercard Worldwide

l

Any other entity Visa deems competitive

The overall appearance of this use must unmistakably convey the idea that the Visa-Owned Mark,

when used on items other than Cards or for sponsorship activities, clearly identifies a product or

service that is separate and distinct from any product or service of the entities listed above.

In the Europe Region: An Issuer that issues Cards within the European Economic Area may, with the

agreement of Visa, use non-Visa-Owned Marks on a Card, including competitive Marks, alongside a

Visa-Owned Mark.

In the US Region: A Member must not use the Marks of the American Express Company, Mastercard

Worldwide (including Maestro), Discover Financial Services, or the subsidiaries or affiliates of these

entities on Cards not defined as US Covered Visa Debit Cards, except that:

l

A wordmark may be used to denote ATM sharing only if it appears on the back of a Card, as

specified in Section 3.2.3.3, Use of Other Marks – US Region and US Territories.

l

The PULSE Mark may appear on the back of a Visa Check Card or a Debit Card if the Issuer

processes Non-Visa Debit Transactions.

In the US Region: A Member may use the Visa Program Marks in conjunction with the Marks of these

entities on items and materials other than Cards provided that the overall appearance resulting from

such use unmistakably conveys the idea that the Marks associated with Visa identify a product or

service separate and distinct from any product or service of the American Express Company,

Mastercard Worldwide (including Maestro), Discover Financial Services, or their subsidiaries or

affiliates.

In the US Region or a US Territory: A Member may use the Marks of the American Express Company,

Mastercard Worldwide (including Maestro), Discover Financial Services, or the subsidiaries or

affiliates of these entities, or other entities deemed competitive by Visa, on US Covered Visa Debit

Cards, as specified in the Visa Product Brand Standards, provided that the overall appearance

resulting from such use unmistakably conveys the idea that the Marks associated with Visa identify a

product or service separate and distinct from any product or service of the American Express

Company, Mastercard Worldwide (including Maestro), Discover Financial Services, or their

subsidiaries or affiliates.

13 April 2024 Visa Public 93

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ID# 0006327 Edition: Apr 2024 | Last Updated: Apr 2020

1.3.4.5 Restricted Use of Other Marks

A Member must not use a Mark other than the Visa Brand Mark or Visa Brand Mark with the Electron

Identifier on a Card to indicate Card acceptance at a Merchant Outlet outside the country of Card

issuance.

A Mark owned by an individual Merchant or a group of Merchants that operate under a common

trade name may appear on a Card as part of an Affinity/Co-Brand Program approved by Visa. If

thisMark is different than the one usedas an identifier of payment services at otherMerchant Outlets

the Mark is not considered to indicate payment acceptance.

A Member may use non-Visa-owned brand Marks to indicate acceptance at Merchant Outlets solely

within the country of Card issuance only if these non-Visa-owned brand Marks are clearly less

prominent than the Visa Brand Mark or Visa Brand Mark with the Electron Identifier.

2,3

Except for the Account Number, a Card must not bear any number or device, whether embossed,

printed, etched, encoded, or otherwise affixed, that is used for international payment purposes. This

does not apply to a Card issued inside the European Economic Area (EEA) that bears another number,

payment application, payment device, or payment scheme to initiate a transaction at a Merchant

Outlet inside the EEA. In the Europe Region, an Issuer must notify Visa of its intention to issue such a

Card.

A Member must not use the Marks of a non-Visa general purpose payment card network on a Card

without prior written consent from Visa.

A Member may use the Visa Program Marks in conjunction with the Marks of these entities on items

and materials other than Cards provided that the overall appearance resulting from such use

unmistakably conveys the idea that the Marks associated with Visa identify a product or service

separate and distinct from any product or service of any non-Visa general purpose payment card

network.

In the Europe Region: This does not apply to a Member located in the European Economic Area (EEA), which may use a

non-Visa-owned Mark that is as prominent as the Visa Brand Mark to indicate acceptance within the EEA.

In the Canada Region: This does not apply to Cards bearing the Mark of the Interac Association.

In the US Region and US Territories: This does not apply to US Covered Visa Debit Cards.

ID# 0006326 Edition: Apr 2024 | Last Updated: Apr 2020

1.3.4.6 Prohibited Use of Competitive Trade Name or Mark

The following must not appear on any part of a Card:

13 April 2024 Visa Public 94

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l

Any Trade Name or Mark that identifies or is associated with any entity, or its subsidiaries or

affiliates, deemed competitive by Visa,

1,2

including:

– American Express Company

– Discover Financial Services

– Mastercard Worldwide (including Maestro)

l

Any Trade Name or Mark that is confusingly similar to any other Visa-Owned Mark

In the US Region and US Territories: This does not apply for US Covered Visa Debit Cards.

In the Europe Region: This does not apply to Cards issued within the European Economic Area.

In the US Region: This does not apply for Cards bearing the Pulse Mark and Cards bearing the Plus Symbol.

In the LAC Region, US Region: This does not apply to certain Cards bearing the Cirrus Wordmark.

ID# 0008458 Edition: Apr 2024 | Last Updated: Apr 2020

1.4 Issuance

1.4.1 Issuance Conditions

1.4.1.1 Offer/Issuance Conditions

A Member must not condition the offer or issuance of any payment card product bearing the Visa

Program Marks or the maintenance of a Cardholder relationship upon the possession or acceptance

of a product bearing the Marks of the American Express Company, Mastercard Worldwide, Discover

Financial Services, Diner’s Club, JCB, or any other non-Visa general purpose payment card network, as

designated by Visa, without the prior written consent of Visa.

In the US Region or in a US Territory: A Member may condition the offer or issuance of a US Covered

Visa Debit Card, or the maintenance of a Cardholder relationship for a US Covered Visa Debit Card,

upon the possession or acceptance of a product bearing the Marks of the American Express

Company, Mastercard Worldwide, Discover Financial Services, Diner’s Club, JCB, or any other non-

Visa general purpose payment card network, as specified in the Visa Product Brand Standards.

ID# 0025568 Edition: Apr 2024 | Last Updated: Apr 2020

1.4.1.3 New Card Program Third-Party Brand Requirement

A Member must ensure that a new Card program that contains a third-party brand complies with the

Affinity/Co-Brand requirements specified in the Visa Product Brand Standards.

ID# 0030579 Edition: Apr 2024 | Last Updated: Apr 2020

13 April 2024 Visa Public 95

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1.4.1.4 General Member Card Program Requirements – Canada Region

In the Canada Region:A Visa Canada General Member must:

l

Operate its own Card program

l

Issue Cards in its own legal name or in a Trade Name or Mark owned by the Member and approved

by Visa, bearing the Visa-Owned Marks, to eligible Cardholders

ID# 0004091 Edition: Apr 2024 | Last Updated: Oct 2014

1.4.2 Account Numbers

1.4.2.1 BINs and Account Numbers on Cards

BIN and Account Number structures embossed, encoded, or printed on a Card

ID# 0003196 Edition: Apr 2024 | Last Updated: Apr 2024

1.4.3 Notification and Disclosure

1.4.3.1 Notification of Card Use Restrictions

An Issuer must include language in its Cardholder agreement that a Card must not be used for any

unlawful purpose, including the purchase of goods or services prohibited by applicable laws or

regulations.

ID# 0000386 Edition: Apr 2024 | Last Updated: Oct 2014

1.4.3.2 International Transaction and Currency Conversion Fee Disclosure

AnIssuer must provide a complete written disclosure of any fees that may be charged to a

Cardholder for an International Transaction or when Currency Conversionoccurs and must include

the exchange rate between the Transaction Currency and the Billing Currency as either:

l

A rate selected by Visa from the range of rates available in wholesale currency markets for the

applicable Transaction, which rate may vary from the rate Visa receives

l

The rate mandated by a government orgoverning body in effect for the applicable Transaction

When Currency Conversion occurs, the Visa rate may be adjusted by the application of an Optional

Issuer Fee as determined by the Issuer or via any Issuer self-determined markup outside of VisaNet.

13 April 2024 Visa Public 96

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An Issuer may choose the method by which it notifies the Cardholder. This may include one or more

of the following, which may include electronic forms of communication:

l

Original Cardholder application agreement

l

Terms and conditions

l

Billing statement

l

Any other agreement between the Cardholder and the Issuer

In the CEMEA Region: In addition, an Issuer of Visa Cards, Proprietary Cards bearing the Plus Symbol,

and Cards bearing the Visa Brand Mark with the Electron Identifier, must notify its Cardholder in

writing of both:

l

Specific fees and charges to be assessed to the Cardholder, where appropriate, including all of the

following:

– Annual fee

– ATM Cash Disbursement fee

– Fee for additional statement copies

– Interest rate(s), if applicable

– Late payment fee

– Manual Cash Disbursement fee

– PIN replacement charge

l

The date on which the Cardholder will incur a late payment fee if the Issuer does not receive

payment for outstanding Transaction amounts appearing on the Cardholder billing statement

This does not apply in the Canada Region, where Issuers must disclose the fact that the Currency Conversion rate is

provided by Visa, and then marked up accordingly by the Issuer if it chooses to add such a markup.

ID# 0000387 Edition: Apr 2024 | Last Updated: Apr 2021

1.4.3.3 Required Data on Cardholder Billing Statement

An Issuer must include on the Cardholder billing statement all of the following:

l

The data transmitted in the Clearing Record that both:

– Identifies one of the following, as applicable:

▪ The Merchant

▪ The Sponsored Merchant and its Payment Facilitator

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▪ The Digital Wallet Operator and retailer

– Enables the Cardholder to contact the Merchant

l

The Issuer name, in a prominent position

l

In the Europe Region (United Kingdom): The Airline Ticket Identifier, where it has been provided in

the Merchant name field of the Clearing Record

In the Europe Region: The Clearing Record for an Intraregional Recurring Transaction must contain either an Electronic

Commerce Merchant’s website address in the Merchant name field or, for all other Merchants, an internationally

accessible telephone number in the Merchant city field.

ID# 0004080 Edition: Apr 2024 | Last Updated: Apr 2022

1.4.3.4 Cardholder Signature on Card

When an Issuer issues or reissues a Card that has a signature panel, the Issuer must:

l

Advise the Cardholder to immediately sign the signature panel on the Card

l

Indicate that the Card must be signed in order to be valid

ID# 0025977 Edition: Apr 2024 | Last Updated: Oct 2019

1.4.3.5 Disclosure of Visa Transaction Information – US Region

In the US Region: An Issuer may only disclose Visa Transaction Information to third parties approved

by Visa and for the sole purpose of:

l

Supporting a loyalty program

l

Providing fraud control services

This does not apply to a Visa Commercial Card Issuer.

ID# 0003555 Edition: Apr 2024 | Last Updated: Oct 2015

1.4.4 Issuer Operational Standards

1.4.4.1 PIN Issuance

An Issuer must make a PIN available to each Cardholder for use with a Card, except as approved

otherwise for either:

13 April 2024 Visa Public 98

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l

Non-Reloadable Prepaid Card

l

Prepaid Card where cash access is restricted

ID# 0004019 Edition: Apr 2024 | Last Updated: Apr 2023

1.4.4.2 PIN Issuance Requirements

An Issuer must:

l

Notify its Cardholders of PIN availability. In the Europe Region,anIssuer will be subject to a non-

compliance assessment if it does not issue PINs to at least 75% of its Cardholders, or, if it did not

issue a PIN, notify those Cardholders that they may select their own PINs, or request that a PIN be

issued.

l

Successfully complete certification testing to demonstrate its capability to perform PIN Verification,

or designate Visa to perform this function

l

Ensure the security of the PIN

l

Select Stand-In Processing Issuer options pertaining to a Transaction for which a PIN is used. In the

Europe Region, an Issuer must communicate these options to Visa.

l

In the US Region: Notify its Cardholders of the availability of the Visa ATM Network. An Issuer must

provide the notification annually to all active Cardholders of all of the following:

– Visa Check Card

– Visa Signature

– Visa Signature Preferred

ID# 0004571 Edition: Apr 2024 | Last Updated: Oct 2016

1.4.4.3 Issuer Responsibility for Stand-In Processing Transactions

An Issuer is responsible for any Transaction approved or declined by Stand-In Processing (STIP).

ID# 0004386 Edition: Apr 2024 | Last Updated: Apr 2021

1.4.4.4 Issuer Credit Transaction Posting

In the AP Region, Canada Region, CEMEA Region, Europe Region, LAC Region: An Issuer must post a

Credit Transaction Receipt to a Cardholder’s account within 5 calendar days from the Settlement

date.

In the USRegion: An Issuer must post a Credit Transaction Receipt to a Cardholder’s account:

13 April 2024 Visa Public 99

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l

For Credit Cards, within 3 business days from the Settlement date

l

For Visa Check Cards, within 1 business day of Settlement, unless circumstances or account history

warrant a delay

l

For Prepaid Cards, within 1 business day of Settlement, unless circumstances or account history

warrant a delay

Effective 20 January 2024 If an Original Credit Transaction (OCT) is used for a Credit Transaction, an

Issuer must comply with the funds availability requirements, as specified in the Visa Direct Original

Credit Transaction (OCT) – Global Implementation Guide.

ID# 0025743 Edition: Apr 2024 | Last Updated: Oct 2023

1.4.4.5 VisaNet Issuer Billing Currency Selection Requirements

An Issuer must ensure that the Billing Currency designated in VisaNet is the same currency in which

the Cardholder is debited

for Transactions, or in which the Issuer bills and receives payment for

Cardholder Transactions.

If an Issuer offers multiple currencies for billing and/or payment, the default Billing Currency must be

the national currency.

The Billing Currency designated in VisaNet must match the currency of the underlying account or source of funds.

This does not apply to Cards enabled with the Visa Multi-Currency Solution, travel Prepaid Cards (including Visa

TravelMoney), or Cards issued through the Visa Multinational Program.

ID# 0029503 Edition: Apr 2024 | Last Updated: Oct 2020

1.4.4.6 Cardholder Account Currency

Any non-fiat currency funds must be converted to a fiat currency before deposit into a Cardholder

account linked to a Visa Card. Conversion of non-fiatcurrency funds must be carried out in

accordance with applicable laws and regulations in the country of issuance.

The Issuer must receive Visa approval before implementing a Visa Program linked to a Cardholder

account that accepts deposited funds that were previously converted from a non-fiat currency.

ID# 0030097 Edition: Apr 2024 | Last Updated: Apr 2022

13 April 2024 Visa Public 100

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1.4.6 Zero Liability

1.4.6.1 Zero Liability

An Issuer must limit a Cardholder’s liability to zero upon notification from the Cardholder of an

unauthorized Transaction.

The limitation of liability does not apply to the following:

l

Visa Corporate Card Transactions

l

Visa Purchasing Card Transactions

l

Anonymous Prepaid Card Transactions

The Issuer may increase the amount of the Cardholder’s liability for unauthorized Transactions if the

Issuer reasonably determines, based on substantial evidence, that the Cardholder was fraudulent or

negligent in the handling of the account or the Card.

The Issuer must communicate any restrictions to its Cardholders.

In the Europe Region: In addition, the Issuer may increase the amount of the Cardholder’s liability for

unauthorized Transactions if the Issuer reasonably determines, based on substantial evidence, that

the Cardholder is proven to have participated in the Transaction.

ID# 0029460 Edition: Apr 2024 | Last Updated: Apr 2021

1.5 Acceptance

1.5.1 General Acquirer Requirements

1.5.1.1 Acquirer Jurisdiction and Restriction of Cross-Border Acquiring

An Acquirer must accept and submit Transactions into Interchange only from Digital Wallet

Operators, Merchants, Marketplaces, Ramp Providers,

and Sponsored Merchants within that

Acquirer’s jurisdiction.

An Acquirer must accept Transactions only from a Merchant Outlet within the Acquirer’s Country of

Domicile (and that country’s territories and possessions) unless any of the following:

l

A Member licensed in another jurisdiction may accept Transactions from a Merchant Outlet in

another country upon receiving Visa’s approval.

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l

The Merchant is an Airline

or an on-board service provider contracted by the Airline

and the

Acquirer maintains the relationship in accordance with the provisions of the International Airline

Program.

l

The Merchant Outlet is, or is located in or on the premises of, a military base, embassy, or

consulate or international governmental organization (for example: the United Nations) on foreign

territory.

l

In the Europe Region: An Acquirer has passported its license in line with EU passporting

regulations. Where applicable, a Transaction must be deposited in the Transaction Country.

A Payment Facilitator may contract with a Sponsored Merchant

6,7

that is outside the country in which

the Payment Facilitator is located

only if both:

l

The Acquirer and Sponsored Merchant are in the same country.

l

Settlement to the Sponsored Merchant is performed in the Acquirer’s jurisdiction via one of the

following:

– A local settlement account owned and controlled by the Payment Facilitator

– A local settlement account owned by the Acquirer but controlled by the Payment Facilitator (for

example: an “on behalf of” account)

– Direct settlement from the Acquirer to the Sponsored Merchant

Visa reserves the right to require the Payment Facilitator to be located in the same country as the

Acquirer.

Effective 13 April 2024 In the AP Region, CEMEA Region, Europe Region, LAC Region (except Brazil),

US Region, and effective 19 October 2024 Canada Region, LAC Region (Brazil): A Ramp Provider may

contract with a Conversion Affiliate that is outside the country in which the Ramp Provider is located.

However, Visa reserves the right to require a Conversion Affiliate to be located in the same country as

the Ramp Provider and Acquirer.

In the Canada Region, US Region: An Acquirer may cross-border acquire Electronic Commerce

Transactions and Mail/Phone Order Transactions only as follows:

Acquirer Region Merchant Region Cardholder Region Currency Used in

Advertising and

Transaction Processing

Canada US Canada CAD

US Canada US USD

Table 1-7: Permitted Cross-Border Acquiring (Canada Region and USRegion)

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Visa may determine, based on an evaluation of the Merchant’s business structure and any other

information:

l

The Country of a Merchant Outlet

l

Acquirer’s ability to contract with such Merchant

A decision by Visa is final.

Effective 13 April 2024 In the AP Region, CEMEA Region, Europe Region, LAC Region (except Brazil), US Region, and

effective 19 October 2024 Canada Region, LAC Region (Brazil)

In the LAC Region (Chile): This does not apply.

For the purchase of travel or lodging at a travel agency, the Transaction Country is the country in which the travel agency

is located.

Such a Merchant may contract with an Acquirer that is licensed in the Merchant’s home country, the Merchant Outlet

Country, or both.

The Acquirer must pay the domestic Interchange Reimbursement Fee (IRF) when entering a domestic Airline Transaction

Receipt into international Settlement.

The Acquirer, Payment Facilitator, and Sponsored Merchant must not be identified in any Visa risk programs (for example:

Visa Dispute Monitoring Program, Visa Fraud Monitoring Program, Visa Integrity Risk Program) or have had excessive risk

program violations in the 3 years before entering into a Merchant Agreement or Payment Facilitator Agreement.

This does not apply to High-Integrity Risk Merchants, T&E Merchants, or Merchants that conduct Advance Payments.

In the LAC Region (Brazil): A Payment Facilitator must not contract with a Sponsored Merchant that is outside the country

in which the Payment Facilitator and its Acquirer are located.

ID# 0008552 Edition: Apr 2024 | Last Updated: Apr 2024

1.5.1.2 Assignment of Merchant Outlet Location

An Acquirer must assign the correct location of its Merchant’s Merchant Outlet. An Acquirer must not

misrepresent or alter, or allow its Merchant, or agent to misrepresent or alter, a Merchant Outlet

location.

For a Card-Present Environment Transaction, the Acquirer must assign the following as the Merchant

Outlet location:

Transaction Merchant Outlet location for that Transaction must

be:

Transaction at a Merchant Outlet in a fixed location The Location at which the Transaction is completed

In-Transit Transaction One of the following:

Table 1-8: Allowed Merchant Outlet Locations for Card-Present Transactions

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Transaction Merchant Outlet location for that Transaction must

be:

l

The location where the journey originated

l

An interim or the final destination

l

The location of the Merchant’s Principal Place of

Business

Transaction at a Merchant Outlet not in a fixed

location

Either:

l

The location at which the Transaction is completed

l

The location of the Merchant’s Principal Place of

Business

Table 1-8: Allowed Merchant Outlet Locations for Card-Present Transactions (continued)

For a Card-Absent Environment Transaction, the Acquirer must assign the country of the Merchant’s

Principal Place of Business

as the Merchant Outlet location. The Acquirer mayassign additional

Merchant Outlet locations if the Transaction is one of the following:

Transaction Additional Merchant Outlet location may be:

Transaction at an Airline,

passenger railway Merchant,

Cruise Line,

or other travel

Merchant

The country from which the first leg of the purchased travel originates

Transaction at a Lodging

Merchant

The country in which the Cardholder’s stay occurs

Transaction at a Vehicle Rental

Merchant,

taxi Merchant, or

ride service Merchant

The country in which the Cardholder rents the car or the journey originates

Transaction at any other

Merchant

The country in which all of the following occur,

as specified in the Visa

Merchant Data Standards Manual:

l

The Merchant has a permanent location at which the Merchant’s

employees or agents conduct the business activity directly related to the

provision to the Cardholder of the goods or services purchased in the

specific Transaction.

Table 1-9: Allowed Additional Merchant Outlet Locations for Card-Absent Transactions

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Transaction Additional Merchant Outlet location may be:

l

The Merchant assesses sales taxes on the Transaction activity.

l

The location is the legal jurisdiction, for the Transaction, that governs the

contractual relationship between the Merchant and the Cardholder as the

purchaser of the goods or services.

Table 1-9: Allowed Additional Merchant Outlet Locations for Card-Absent Transactions (continued)

If Visa disputes a Merchant Outlet location assigned by an Acquirer, the correct location of the

Merchant Outlet may be determined by Visa in its sole discretion.

A location (or locations) at which a Merchant completes Transactions and is not the fixed or permanent premises of the

Merchant. This does not apply to a mobile Acceptance Device within a fixed Merchant Outlet.

For the purchase of travel or lodging at a travel agency, the Merchant Outlet location must be the country in which the

travel agency is located.

In the Europe Region: An exception applies to Merchant Outlet locations within the European Economic Area.

If a Card-Absent Merchant (except a travel/lodging Merchant) qualifies for one or more additional Merchant Outlet

locations, the Acquirer may assign the location for a Transaction only as the location where the underlying business

activity occurs for the specific Transaction (either the Principal Place of Business or a qualifying additional Merchant Outlet

location).

ID# 0029455 Edition: Apr 2024 | Last Updated: Apr 2023

1.5.1.3 Merchant Qualification Standards

Before entering into a Merchant Agreement, an Acquirer or a Payment Facilitator must ensure that

the prospective Merchant is all of the following:

l

Financially responsible

l

Not engaged in any activity that could cause harm to the Visa system or the Visa brand

l

Operating within an allowed jurisdiction

l

Not misrepresenting its Merchant Outlet location or locations

The Acquirer or Payment Facilitator must also determine that there is no significant derogatory

background information about any of the Merchant’s principals.

ID# 0008478 Edition: Apr 2024 | Last Updated: Apr 2017

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1.5.1.4 Submission of Illegal Transactions

An Acquirer must not knowingly accept from a Merchant for submission into the Visa payment

system any Transaction that is illegal or that the Acquirer or Merchant should have known was illegal.

ID# 0028040 Edition: Apr 2024 | Last Updated: Oct 2014

1.5.1.5 Acquirer Use of Digital Certificates

An Acquirer that issues Digital Certificates to its Merchants or Payment Facilitators to enable them to

access Visa-owned system components must use only Digital Certificates associated with Visa.

ID# 0004617 Edition: Apr 2024 | Last Updated: Oct 2014

1.5.1.6 Security of Payment Credentials and Payment Account References

An Acquirer must ensure all of the following:

l

That the Account Number associated with a Token in a Transaction is not disclosed to the

Merchant

l

That a Payment Account Reference (PAR) is not stored with its associated full Payment Credential

l

That a Transaction is not initiated with a PAR

l

That a PAR is used only for the following:

– Providing or managing customer service

– Performing fraud and risk control activities

– Supporting value-added services in which the Cardholder has opted to participate

– Aiding compliance with applicable laws or regulations

ID# 0029276 Edition: Apr 2024 | Last Updated: Apr 2020

1.5.1.7 Authorization Rejection Based on Internal Tables

A Member must not selectively reject or decline Authorization Requests based on an internally

developed table of BINs or Account Numbers.

This prohibition both:

l

Includes tables developed using any table or file that includes BIN Attributes

l

Does not include Authorization Requests originating from a Limited Acceptance Merchant for

Account Numbers that contain a BIN not accepted by the Merchant

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ID# 0008817 Edition: Apr 2024 | Last Updated: Apr 2020

1.5.1.8 Acquirer Rights to Provide Merchant Information

An Acquirer, a Marketplace, a Payment Facilitator, or a Digital Wallet Operator must ensure that it has

all the necessary and appropriate rights under applicable laws or regulations (including any

Applicable Data Protection Laws/Regulations), privacy policies, or agreements to collect, use, and

disclose Merchant or retailer information (including Personal Data) to Visa.

ID# 0026459 Edition: Apr 2024 | Last Updated: Oct 2022

1.5.1.9 Termination of Merchant Agreement

After verifying that Visa has prohibited a Merchant, Sponsored Merchant, or Payment Facilitatorfrom

participating in the Visa or Visa Electron Program, an Acquirer must terminate the Merchant

Agreement or Payment Facilitator Agreement no later than the date specified by Visa.

If the Acquirer does not terminate the Merchant Agreement or Payment Facilitator Agreement by the

specified date, Visa may assess the Acquirer a non-compliance assessment.

An Acquirer or Payment Facilitator that enters into a Merchant Agreement with a Merchant,

Sponsored Merchant, or known principals of a Merchant or Sponsored Merchant that Visa has

prohibited from participating in the Visa Program or Visa Electron Program may be assessed a non-

compliance assessment.

ID# 0008241 Edition: Apr 2024 | Last Updated: Oct 2015

1.5.2 Merchant Agreements

1.5.2.1 Merchant Agreement Requirements

An Acquirer must have a Merchant Agreement with each of its Merchants to accept Visa Cards and, if

applicable, Visa Electron Cards. A Payment Facilitator must have a Merchant Agreement with each of

its Sponsored Merchants.

The Merchant Agreement must include language that requires the Merchant to do all of the

following:

l

Perform its obligations under the Merchant Agreement in compliance with applicable laws and

regulations

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l

Comply with the Visa Rules regarding use of the Visa-Owned Marks, Visa acceptance, risk

management, Transaction processing, and any Visa products, programs, or services in which the

Merchant is required to, or chooses to, participate

l

Not knowingly submit any Transaction that is illegal or that the Merchant should have known was

illegal

l

Include the right of Visa to limit or terminate the Acquirer’s agreement with the Merchant or the

Payment Facilitator’s agreement with the Sponsored Merchant

l

Include the provisions specified in Section 3.1.1 of the Visa Integrity Risk Program Guide, if the

Merchant is an adult content provider assigned with MCC 5967 (Direct Marketing – Inbound

Teleservices Merchant)

An Acquirer and a Payment Facilitator may accept Transactions only from an entity with which it has a

valid Merchant Agreement.

ID# 0003356 Edition: Apr 2024 | Last Updated: Apr 2023

1.5.3 Marks Display

1.5.3.1 Display of Card Acceptance Marks

A Member or Merchantmust display the appropriate Visa-OwnedMarks to indicate which Cards it

accepts for payment.

An Acquirer must ensure that each of its Limited Acceptance Merchants displays the appropriate

Visa-Owned Marks to indicate only the Cards that it accepts for payment in accordance with its

Merchant Agreement. A Limited Acceptance Merchant must not display any Visa graphic that

indicates acceptance of all Visa Cards.

ID# 0008496 Edition: Apr 2024 | Last Updated: Apr 2018

1.5.4 Card Acceptance

1.5.4.1 Accepting Visa Products for Payment

Visa Merchants displaying Visa acceptance Marks at payment locations agree to accept

corresponding Visa-branded products for payment.

If the customer indicates that he or she wants to pay with a Visa product, a Merchant must complete

and process the Visa Transaction as defined in the Visa Rules.

ID# 0007777 Edition: Apr 2024 | Last Updated: Apr 2018

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1.5.4.2 Honor All Cards

A Merchant must accept all Cards

properly presented for payment.

This does not apply to the following, where limited acceptance is permitted:

l

Merchant Outlets that deployContactless-only Acceptance Devices, as specified in Section 5.6.2.3,

Deployment of Contactless-Only Acceptance Devices

l

Merchants that accept only Mobile Push Payment Transactions. Such Merchants must accept all

Mobile Push Payment Transactions (except Cash-In and Cash-Out Transactions, which the

Merchant may choose to accept)

l

In the AP Region (Australia), Canada Region, US Region: Certain categories of Visa products for

domestically issued Cards

l

In the Europe Region: A Merchant in the European Economic Area (EEA) or United Kingdom, for

certain Product Categories, as specified in Section 1.5.4.6, Limited Acceptance Merchant

Requirements – Europe and US Regions

l

In the LAC Region (Chile): A Merchant may elect which categories of Visa products to accept.

A Merchant may not refuse to accept a Visa product that is properly presented for payment (for

example: a Card that is foreign-issued

2,3,4

or co-branded with the Merchant’s competitor’s Mark).

A Merchant may attempt to steer customers who initially present a Visa Card to an alternative

method of payment, but may not do so in a manner that denies consumer choice.

A Merchant may also consider whether present circumstances create undue risk (for example: if the

sale involves high-value electronics but the Card signature panel is not signed, and the Cardholder

does not have any other identification).

Based on the technology supported by the Merchant

In the AP Region (Australia), Canada Region,US Region: A Merchant may decline to accept certain categories of Visa

products for domestically issued Cards.

In the Europe Region: A Merchant in the European Economic Area (EEA) or United Kingdom may decline to accept certain

Product Categories.

In the LAC Region (Chile): A Merchant may decline to accept any Visa product for any valid Card issued by a Visa Issuer.

ID# 0008591 Edition: Apr 2024 | Last Updated: Apr 2023

1.5.4.3 Honor All Cards – Canada Region

In the Canada Region: Unless a Merchant has elected to not be a Visa Debit Acceptor, a Merchant

that accepts Visa Cards must accept any valid Visa Card that a Cardholder properly presents for

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payment. This means that the Merchant must permit the Cardholder to choose whether to pay for a

transaction with that Visa Card or with some other means of payment accepted by the Merchant.

Merchants that have elected to be a Visa Debit Acceptor may choose whether or not to accept

domestic Visa Credit Cards. Similarly, Merchants that have elected to be a Visa Credit Acceptor may

choose whether or not to accept Visa Debit Category Cards issued by Canada Issuers.

If a Cardholder presents a Visa Card that bears a Mark representing another payment service, the

Merchant may not intentionally mislead the Cardholder concerning what payment service or system

will be used. If the Merchant provides any information regarding the customer’s rights related to

various transaction choices, that information must be accurate.

ID# 0008392 Edition: Apr 2024 | Last Updated: Apr 2018

1.5.4.4 Honor All Cards – US Region

In the US Region: A Merchant that wishes to accept Visa Cards must accept any valid Visa Card in its

category of acceptance that a Cardholder properly presents for payment. This means that the

Merchant must permit the Cardholder to choose whether to pay for a transaction with that Visa Card

or with some other means of payment accepted by the Merchant. The Merchant may request or

encourage a Cardholder to use a means of payment other than a Visa Card.

ID# 0002867 Edition: Apr 2024 | Last Updated: Apr 2018

1.5.4.5 Selection of Payment System – AP (Australia), Europe, and US Regions

In the AP Region (Australia): For an Electronic Commerce Merchant, if a Cardholder presents a Visa

Card that is in the Merchant’s category of acceptance and that bears a Mark representing another

payment service:

l

The Merchant must honor the Cardholder’s request if the Cardholder indicates that the transaction

is to be processed as a Visa Transaction.

l

The Merchant may process the transaction as something other than a Visa Transaction despite an

initial indication by the Cardholder that the transaction is to be processed as a Visa Transaction,

but only if the Cardholder agrees that the transaction may be processed as something other than a

Visa Transaction. The Merchant may not mislead the Cardholder concerning what payment service

or system will be used. If the Merchant provides any information regarding the customer’s rights

related to various transaction choices, that information must be accurate.

In the Europe Region: At a Merchant in the European Economic Area (EEA), if a Cardholder presents a

Card that is issued in the EEA and that is co-badged with another payment scheme or payment

application of the same payment scheme accepted by the Merchant, the Merchant must:

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l

Effective through 30 April 2024 For an Electronic Commerce Merchant, during the sequence of

pages before final checkout, display the available choice of payment schemes and/or payment

applications and enable the Cardholder to make a transparent choice of payment scheme or

payment application.

l

Effective through 30 April 2024 For all Chip-Reading Devices deployed on or after 1 May 2022,

display on the customer-facing payment screen the available choice of payment schemes and/or

payment applications and enable the Cardholder to make a transparent choice of payment scheme

or payment application.

l

Effective 1 May 2024 For all Chip-Reading Devices, display on the customer-facing payment

screen the available choice of payment schemes and/or payment applications consistently by their

name, in plaintext, or by their logo with the same visual quality, sizing and clarity, with selection

buttons or touchscreen functionality to allow a Cardholder to make a selection, without any

unnecessary steps

l

Effective 1 May 2024 For Electronic Commerce,

contact Chip and Contactless Transactions,

offer

a Cardholder the available choice of payment schemes and/or or payment applications in a

transparent manner, by ensuring all of the following:

– The right to choose between payment schemes and/or payment applications must be effectively

communicated to a Cardholder

– The visual presentation of the available payment schemes or payment applications must be

transparent so that the Cardholder is clear of the options, and they can choose freely between

the payment schemes or payment applications supported

– The selection mechanism must be clear and simple, without any unnecessary steps, and it must

allow the Cardholder to make a selection without any input from the Merchant

– In addition, for an Electronic Commerce Merchant, during the sequence of pages before final

checkout, follow all the requirements as specified in Section 5.8.4.6, Electronic Commerce

Merchant Requirements to Support Consumer Choice – Europe Region

l

Effective 1 May 2024 Ensure a Cardholder is able to select their choice of payment scheme or

payment application on a per transaction basis

l

Not override the Cardholder’s choice of payment scheme.

In the US Region: If a Cardholder presents a Visa Card

that is in the Merchant’s category of

acceptance and that bears a Mark representing another payment service:

l

The Merchant must honor the Cardholder’s request if the Cardholder indicates that the transaction

is to be processed as a Visa Transaction.

l

The Merchant may process the transaction as something other than a Visa Transaction despite an

initial indication by the Cardholder that the transaction is to be processed as a Visa Transaction,

but only if the Cardholder agrees that the transaction may be processed as something other than a

Visa Transaction. The Merchant may not mislead the Cardholder concerning what payment service

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or system will be used. If the Merchant provides any information regarding the customer’s rights

related to various transaction choices, that information must be accurate.

This includes a mobile wallet Contactless Transaction, known as mobile NFC, or an Electronic Commerce Transaction

made through the wallet application.

In the US Region or a US Territory: This does not apply to a US Covered Visa Debit Card.

ID# 0002868 Edition: Apr 2024 | Last Updated: Apr 2024

1.5.4.6 Limited Acceptance Merchant Requirements – Europe and US Regions

In the Europe Region, US Region: A Merchant that accepts Visa Cards may choose Limited

Acceptance.

In the Europe Region: A Limited Acceptance Merchant must not discriminate between Issuers within

any Product Category it accepts. If a Limited Acceptance Merchant in the European Economic Area

(EEA) or United Kingdom (UK) selects to only accept certain Product Categories, then the following

applies:

l

If a Limited Acceptance Merchant accepts Credit Cards, the Limited Acceptance Merchant located

in the EEA must accept all Credit Cards issued in the EEA or the Limited Acceptance Merchant

located in the UK must accept all Credit Cards issued in the UK.

l

If a Limited Acceptance Merchant accepts Debit Cards, the Limited Acceptance Merchant located in

the EEA must accept all Debit Cards issued in the EEA or the Limited Acceptance Merchant located

in the UK must accept all Debit Cards issued in the UK.

l

If a Limited Acceptance Merchant accepts Prepaid Cards, the Limited Acceptance Merchant located

in the EEA must accept all Prepaid Cards issued in the EEA or the Limited Acceptance Merchant

located in the UKmust accept all Prepaid Cards issued in the UK.

l

A Limited Acceptance Merchant located in the EEA is not required to accept commercial Cards

issued in the EEA or a Limited Acceptance Merchant located in the UK is not required to accept

commercial Cards issued in the UK.

In the Europe Region: A Limited Acceptance Merchant located in the EEA must accept any valid Card

issued outside the EEA and a Limited Acceptance Merchant located in the UK must accept any valid

Card issued outside the UK.

In the US Region: A Merchant that accepts all Cards or a Limited Acceptance category of Cards must

accept any valid Card issued by a non-US Issuer, as specified in the Visa Rules.

ID# 0008680 Edition: Apr 2024 | Last Updated: Apr 2023

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1.5.4.7 Limited Acceptance Notification Requirements – Europe and US Regions

In the Europe Region: An Acquirer must register with Visa each of its Limited Acceptance Merchants.

In the US Region: An Acquirer must register with Visa and provide reporting on any Merchant that

elects to be a Limited Acceptance Merchant.

ID# 0005609 Edition: Apr 2024 | Last Updated: Apr 2018

1.5.4.8 Chip Card Acceptance Requirements

The Card and Cardholder must be present for all Chip-initiated Transactions.

If a Chip-initiated Transaction is declined by the Issuer, the Transaction must not be processed by any

other means.

ID# 0004845 Edition: Apr 2024 | Last Updated: Oct 2014

1.5.4.9 Visa Mini Card Merchant Acceptance Requirements

A Merchant that accepts Cards must both:

l

Attempt to accept a Visa Mini Card

l

Request a corresponding standard-sized Card, if available, if either the:

– Acceptance Device is unable to read the Magnetic Stripe on the Visa Mini Card

– Full Account Number is not placed on the Visa Mini Card

ID# 0027521 Edition: Apr 2024 | Last Updated: Apr 2020

1.5.4.10 Uniform Services – Acquirer Requirements

An Acquirer must both:

l

Accept all Cards properly presented for payment

l

Offer and render services uniformly to all Cardholders

This does not apply to Contactless-only Acceptance Devices, as specified in Section 5.6.2.3,

Deployment of Contactless-Only Acceptance Devices.

This does not apply to discounts, promotional offers, or in-kind incentives offered by the Merchant.

ID# 0005302 Edition: Apr 2024 | Last Updated: Apr 2016

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1.5.4.11 Uniform Services – Merchant Requirement

A Merchant must process Transactions with all Cardholders in exactly the same manner.

This does not apply to discounts, promotional offers, or in-kind incentives offered by the Merchant to

a subset of Visa Cards.

ID# 0003018 Edition: Apr 2024 | Last Updated: Oct 2018

1.5.4.12 Discount Offer – US Region and US Territories

In the US Region and a US Territory: A Merchant may request or encourage a Cardholder to use a

means of payment other than a Visa Card or a Visa Card of a different product type (for example: Visa

Classic Card, Visa Traditional Rewards Card, Visa Signature Card) than the Visa Card the consumer

initially presents. Except where prohibited by applicable laws or regulations, the Merchant may do so

by methods that include, but are not limited to:

l

Offering the consumer an immediate discount from the Merchant’s list, stated, or standard price, a

rebate, a free or discounted product or service, or any other incentive or benefit if the consumer

uses a particular general purpose payment card with an acceptance brand other than a Visa Card

or other particular means of payment

l

Offering the consumer an immediate discount from the Merchant’s list, stated, or standard price, a

rebate, a free or discounted product or service, or any other incentive or benefit if the consumer,

who initially presents a Visa Card, uses instead another general purpose payment card or another

means of payment

l

Expressing a preference for the use of a particular general purpose payment card or means of

payment

l

Promoting the use of a particular general purpose payment card with an acceptance brand other

than Visa or means of payment through posted information, through the size, prominence, or

sequencing of payment choices, or through other communications to consumers

l

Communicating to consumers the reasonably estimated or actual costs incurred by the Merchant

when a consumer uses a particular general purpose payment card or means of payment or the

relative costs of using different general purpose payment cards or means of payment

ID# 0008590 Edition: Apr 2024 | Last Updated: Oct 2014

1.5.4.13 Acquirer Requirements – Discount at the Point of Sale – US Region and US

Territories

In the US Region or a US Territory: An Acquirer must not adopt, maintain or enforce any rule

(including any bylaw, policy, standard, guideline, or practice), or enter into or enforce any agreement

13 April 2024 Visa Public 114

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Visa Core Rules and Visa Product and Service Rules

that directly or indirectly prohibits, prevents, or restrains its Merchants from requesting or

encouraging a Cardholder to use a means of payment other than a Visa Card or a Visa Card of a

different product type (e.g., Visa Classic Card, Visa Traditional Rewards Card, Visa Signature Card)

than the Visa Card the consumer initially presents. The methods by which a Merchant may request or

encourage a Cardholder to use a means of payment other than a Visa Card or a Visa Card of a

different product type include but are not limited to the methods specified in Section 1.5.4.12,

Discount Offer – US Region and US Territories.

An Acquirer may enforce agreements or enter into agreements with its Merchants where the

Merchant selects Visa Cards as the only general purpose payment cards the Merchant will accept.

ID# 0026490 Edition: Apr 2024 | Last Updated: Oct 2014

1.5.4.14 Incentive to Use Other Payment Method – US Region

In the US Region: A Merchant may offer a non-monetary benefit to a Cardholder as an inducement

for the Cardholder to use a means of payment other than a Visa Card.

A Merchant may offer a monetary benefit in the form of a discount, as specified in Section 1.5.4.12,

Discount Offer – US Region and US Territories, as an inducement for the Cardholder to use a means of

payment other than a Visa Card.

ID# 0002870 Edition: Apr 2024 | Last Updated: Oct 2014

1.5.4.15 Credit Refund Requirements

A Merchant may establish its own credit refund policy, but must disclose it as specified in Section

5.4.2.5, Disclosure to Cardholders of Return, Refund, and Cancellation Policies.

A Merchant must not:

l

Accept payment from a Cardholder for the purpose of depositing funds to the Cardholder’s

account

l

Process a Credit Transaction Receipt without having completed a previous retail Transaction with

the same Cardholder

These restrictions do not apply to:

l

The loading of value to a Prepaid Card that participates in the Visa Prepaid Load Service

l

In the US Region: The loading of value to a Card that participates in Visa ReadyLink

Effective 20 January 2024 If a Merchant chooses to use a Faster Refund to deliver a Credit

Transaction, the Merchant must comply with the requirements in the Visa Direct Original Credit

Transaction (OCT) – Global Implementation Guide.

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If a Merchant provides a refund to a Cardholder for a previous purchase, the following conditions

apply:

l

To the extent possible, the Merchant must process a Credit Transaction

to the same Payment

Credential as used in the original Transaction.

l

If unable to process the Credit Transaction to the same Payment Credential, the Merchant may

either:

– Process the Credit Transaction to a secondary Payment Credential, if available, and if a

Transaction Receipt or other proof of purchase exists, and either:

▪ The original Payment Credential is unavailable (account is closed, transferred, reported

lost/stolen).

▪ An Authorization Request for the Credit Transaction

to the original Payment Credential

receives a Decline Response.

– Refund the Transaction amount through alternate means (cash, check, in-store credit, or prepaid

card), if any of the following conditions apply:

▪ The Cardholder does not have a Transaction Receipt or other proof of purchase.

▪ The customer is not the original Cardholder and is returning a gift.

▪ The Cardholder claims that the Prepaid Card used for the original purchase has been

discarded.

▪ The Authorization Request for a Credit Transaction to the original or secondary Payment

Credential receives a Decline Response.

In the AP Region (Australia, New Zealand), Canada Region, Europe Region, LAC Region (Chile), US

Region, US Territory: The Merchant must refund any surcharge

assessed on the Transaction amount.

For partial refunds, the surcharge

amount must be pro-rated.

Except a Cash-In Transaction

This does not apply to a Straight Through Processing Transaction.

Effective 20 January 2024 Thisdoes not apply to a Faster Refund.

In the AP Region (Australia), LAC Region (Chile): A Surcharge. In the Canada Region, US Region, US Territory: A Credit Card

Surcharge.

ID# 0003076 Edition: Apr 2024 | Last Updated: Oct 2023

13 April 2024 Visa Public 116

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1.5.5 Card Acceptance Prohibitions

1.5.5.1 Prohibition of Minimum or Maximum Transaction Amount

A Merchant must not establish a minimum or maximum Transaction amount as a condition for

honoring a Card.

This does not apply to a European Economic Area Transaction or a Domestic Transaction accepted in

the United Kingdom.

This does not apply to a Transaction initiated with a Credit Card issued in the US Region or a US

Territory used at a Merchant Outlet in the US Region or a US Territory, as specified in Section 5.4.2,

Conditions of Card Acceptance and Cardholder Rights.

ID# 0026405 Edition: Apr 2024 | Last Updated: Apr 2023

1.5.5.2 Surcharges

A Merchant must not add any amount over the advertised or normal price to a Transaction, unless

applicable laws or regulations expressly require that a Merchant be permitted to impose a surcharge.

Any surcharge amount, if allowed, must be included in the Transaction amount and not collected

separately.

In the AP Region (New Zealand): This does not apply under certain terms and conditions, as

communicated to Members. Further information is available from Visa.

In the Canada Region: This does not apply to Visa Credit Card Transactions, as specified in Section

5.5.1.8, Credit Card Surcharge Requirements – Canada, US Region, and US Territories.

In the Europe Region: The Merchant must clearly communicate any surcharge amount to the

Cardholder, and the Cardholder must agree to the surcharge amount, before the Merchant initiates

the Transaction.

In the LAC Region (Chile): This does not apply to a Merchant in Chile, as specified in Section 5.5.1.5,

Surcharge Requirements – LAC Region (Chile).

In the US Region and US Territories: This does not apply to Credit Card Transactions, as specified in

Section 5.5.1.8, Credit Card Surcharge Requirements – Canada, US Region, and US Territories.

ID# 0006948 Edition: Apr 2024 | Last Updated: Apr 2023

1.5.5.3 Cardholder Identification

Unless specified in the Visa Rules, a Merchant must not request Cardholder identification as a

condition of purchase.

13 April 2024 Visa Public 117

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In the APRegion, Canada Region, CEMEARegion, LACRegion, USRegion: A Merchant that suspects

fraud in a Face-to-Face Environment may request Cardholder identification. If the identification is

expired or does not match the name on the Card, or if the Cardholder does not provide identification,

the Merchant may decide whether to accept the Card.

ID# 0027481 Edition: Apr 2024 | Last Updated: Apr 2018

1.5.5.4 PIN Disclosure

A Merchant must not ask a Cardholder to reveal the Cardholder’s PIN.

ID# 0008977 Edition: Apr 2024 | Last Updated: Oct 2018

1.5.5.5 Scrip Prohibition

An Acquirer or Merchant must not accept a Card for the purchase of Scrip, except in Sub-Saharan

Africa.

Angola, Botswana, Comoros, Eritrea, Eswatini, Ethiopia, Gambia, Ghana, Kenya, Lesotho, Liberia, Malawi, Mauritius,

Mozambique, Namibia, Nigeria, Rwanda, Sierra Leone, Somalia, Seychelles, Sudan, Tanzania, Uganda, Zambia, Zimbabwe.

Includes: Mascarene Is., Rodrigues Is.

ID# 0008708 Edition: Apr 2024 | Last Updated: Apr 2020

1.5.5.6 Merchant Cash Disbursement Prohibition

A Merchant must not provide cash to a Cardholder unless the Merchant provides Cash-Back or Cash-

Out or sells foreign currency.

In the AP Region (Nepal): This does not apply for a disbursement in local currency by a Merchant that

is licensed to sell foreign currency.

In the CEMEA Region (South Africa): This does not apply.

ID# 0006952 Edition: Apr 2024 | Last Updated: Apr 2020

1.5.5.7 Prepaid Card Cash Redemption

A Prepaid Card must not be redeemed for cash by a Merchant that accepts the Prepaid Card.

ID# 0025713 Edition: Apr 2024 | Last Updated: Apr 2020

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1.5.6 Transaction Receipts

1.5.6.1 Cardholder Verification without Final Transaction Amount

A Merchant must not require a Cardholder to perform Cardholder Verification before the final

Transaction amount is entered on the Transaction Receipt or displayed to the Cardholder.

A Merchant may only perform Cardholder Verification before displaying the final Transaction amount

for either:

l

A Merchant that has submitted an Estimated Authorization Request or Incremental Authorization

Request. This in itself does not constitute Cardholder acceptance of the final Transaction amount.

l

A Merchant that uses a Visa-approved “quick Chip” processing solution, where available, only if all

of the following conditions are met:

– The Merchant’s POS system automatically calculates the final amount

– The final amount is displayed and confirmed by the Cardholder before the Merchant submits an

Authorization Request

– A fully itemized Transaction Receipt is offered to the Cardholder

Except at a Merchant Outlet that receives or accepts tips.

ID# 0003120 Edition: Apr 2024 | Last Updated: Oct 2022

1.5.7 Merchant Deposits

1.5.7.1 Transaction Deposit Conditions

A Merchant, Payment Facilitator, Marketplace, Digital Wallet Operator, or Ramp Provider

must not

submit a Deposit for a Transaction until one of the following occurs:

l

The Transaction is completed.

l

The merchandise or services are shipped or provided. This does not apply if the Cardholder has

paid an Advance Payment.

l

The Merchant, Sponsored Merchant, Marketplace, or Digital Wallet Operator has fulfilled the

conditions of its agreement with the Cardholder for an Installment Transaction, a Recurring

Transaction, or an Unscheduled Credential-on-File Transaction.

A Merchant or Digital Wallet Operatormust only submit a Deposit for a Transaction that it has

completed with a Cardholder.

A Marketplace must only submit a Deposit for a Transaction between a Cardholder and a retailer that

sells goods or services through the Marketplace.

13 April 2024 Visa Public 119

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Effective 13 April 2024 In the AP Region, CEMEA Region, Europe Region, LAC Region (except Brazil),

US Region, and effective 19 October 2024 Canada Region, LAC Region (Brazil): A Ramp Provider

must only submit a Deposit for a Transaction between a Cardholder and a Conversion Affiliate that

has an agreement with the Ramp Provider.

A Payment Facilitator must not submit a Deposit for a Transaction on behalf of another Payment

Facilitator, a Digital Wallet Operator that operates a Staged Digital Wallet, for person-to-person

(P2P)/money transfer programs, or a Ramp Provider.

In the LAC Region (Brazil): In addition, a Payment Facilitator must not submit a Deposit for a

Transaction on behalf of a Marketplace.

Effective 13 April 2024 In the AP Region, CEMEA Region, Europe Region, LAC Region (except Brazil), US Region, and

effective 19 October 2024 Canada Region, LAC Region (Brazil)

ID# 0002981 Edition: Apr 2024 | Last Updated: Apr 2024

1.5.7.2 Acquirer Payments to Card Acceptors

An Acquirer must pay or credit

its Merchant’s, Marketplace’s, Sponsored Merchant’s, Payment

Facilitator’s, Digital Wallet Operator’s, or Ramp Provider’s

account promptly after Transaction

Deposit. These payments must be the same as the Transaction totals, less any Credit Transactions or

Original Credit Transactions, applicable discounts, Disputes, other agreed fees or Merchant reserve

funds (if applicable) accumulated to guarantee the Merchant’s, Sponsored Merchant’s, Marketplace’s,

Payment Facilitator’s, or Digital Wallet Operator’s payment system obligations to the Acquirer.

An Acquirer may directly pay or credit

only:

l

A Merchant

l

A Payment Facilitator, on behalf of a Sponsored Merchant

l

A Sponsored Merchant for its portion of the Deposit, if the Acquirer also contracts with the

Payment Facilitator

l

A Digital Wallet Operator

l

A Marketplace

l

Effective 13 April 2024 In the AP Region, CEMEA Region, LAC Region (except Brazil), Europe

Region, US Region, and effective 19 October 2024 Canada Region, LAC Region (Brazil): A Ramp

Provider

If a Payment Facilitator receives payment from an Acquirer, it must pay or credit

its Sponsored

Merchant’s account promptly after Transaction Deposit. These payments must be the same as the

Transaction totals, less any Credit Transactions or Original Credit Transactions, applicable discounts,

Disputes or other agreed fees.

13 April 2024 Visa Public 120

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A Marketplace must pay or credit its retailer’s account promptly after Transaction Deposit. These

payments must be the same as the Transaction totals, less any Credit Transaction Receipts, applicable

discounts, Disputes or other agreed fees.

Effective 13 April 2024 In the AP Region, CEMEA Region, Europe Region, LAC Region (except Brazil),

US Region, and effective 19 October 2024 Canada Region, LAC Region (Brazil): A Ramp Provider

must pay or credit its Conversion Affiliate’s account promptly after Transaction Deposit. These

payments must be the same as the Transaction totals, less any Credit Transaction Receipts, applicable

discounts, Disputes or other agreed fees.

In the LAC Region (Brazil): An Acquirer, Marketplace, Payment Facilitator, or Ramp Provider,

or a

Staged Digital Wallet must pay or credit

its Merchant’s, Sponsored Merchant’s, or retailers’ (for

Marketplaces and Staged Digital Wallets), or Conversion Affiliates’ (for Ramp Providers)

account, as

specified in Table 1-10, Payment to Merchants, Sponsored Merchants, or Retailers Accounts – Brazil:

Product Type Domestic Transactions International Transactions

Credit No later than 32 days after the

Processing Date

No later than 5 days after the

Processing Date

Debit No later than 5 days after the Processing Date

Prepaid No later than 5 days after the Processing Date

Table 1-10: Payment to Merchants, Sponsored Merchants, or Retailers Accounts – Brazil

For funds disbursement/money transfer/P2P programs, this may be a debit.

Effective 13 April 2024 In the AP Region, CEMEA Region, LAC Region (except Brazil), Europe Region, US Region, and

effective 19 October 2024 Canada Region, LAC Region (Brazil)

ID# 0008850 Edition: Apr 2024 | Last Updated: Apr 2024

1.5.8 Travelers Cheques

1.5.8.1 Travelers Cheque Acceptance Requirements

A Member must accept and encash all Cheques denominated in currencies usually exchanged in the

local market.

A Member’s encashment policy must be as favorable for Cheques as for other cheque brands.

ID# 0002657 Edition: Apr 2024 | Last Updated: Oct 2014

13 April 2024 Visa Public 121

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1.5.8.2 Travelers Cheque Acceptance Procedures

When encashing a Cheque, a Member must:

l

Witness the customer countersigning the Cheque in the lower left signature area

l

Compare the countersignature with the signature appearing in the upper right signature area. If

the signatures appear similar, the Member may accept the Cheque.

If the Member is uncertain about the similarity of the signatures, it may request that the customer

sign the Cheque on the back and provide identification. If the Member is satisfied with the

identification comparison, it may accept the Cheque.

If a Cheque has already been countersigned, or if the presenter is not the original purchaser of the

Cheque, the Member must only accept the Cheque if the presenter is a known customer and full

recourse is available.

If the Cheque issuer does not honor a validly issued Cheque as a result of the issuer’s financial

condition or circumstances beyond the issuer’s control, Visa guarantees reimbursement for the

Cheque amount if the Member complies with the above encashment procedures.

ID# 0008947 Edition: Apr 2024 | Last Updated: Oct 2015

1.6 ATM

1.6.1 ATM Requirements

1.6.1.1 Compliance with Visa Product and Service Rules: ATM

ATM rules are contained in Visa Product and Service Rules: ATM.

ID# 0028042 Edition: Apr 2024 | Last Updated: Oct 2014

1.7 Transaction Processing

1.7.1 General Processing

1.7.1.1 Authorization, Clearing, and Settlement of Transactions through VisaNet

A Visa participant must authorize, clear, and settle messages for international Visa Transactions

through VisaNet, including those resulting from the use of restricted cards outside the country of

issuance,and report to Visa all domestic Visa Transactions processed outside of VisaNet.

13 April 2024 Visa Public 122

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Visa Core Rules and Visa Product and Service Rules

In the APRegion (Australia, Bangladesh, Malaysia, Philippines, Singapore, Thailand, Vietnam),

Canada Region, USRegion: A participant must authorize, clear, and settle all Visa Transactions

(except for those processed by other means approved by Visa) through VisaNet, which enhances

Visa’s ability to manage risks, meet consumer expectations, and provide leading fraud-protection

solutions.

In the Europe Region: For International Transactions that are European Economic Area Transactions, a

Member will use a Visa Scheme Processor.

Exceptions apply, as specified in Section 7.1.1.3, Required Use of VisaNet for Processing – AP Region

ID# 0007788 Edition: Apr 2024 | Last Updated: Oct 2019

1.7.1.2 BIN and Acquiring Identifier Processing Capability

A Member and VisaNet Processor must be capable of accepting and processing a BIN and an

Acquiring Identifier for any Visa-defined purpose.

ID# 0008895 Edition: Apr 2024 | Last Updated: Oct 2019

1.7.2 Data Requirements

1.7.2.1 Complete and Valid Transaction Data

An Acquirer must ensure that all Authorization Requests and Clearing Records contain complete,

accurate, and valid data.

If an Authorization is obtained, any data in the subsequent Clearing Record or Authorization Reversal

must be the same as, or consistent with, comparable data in the Authorization Request and

Authorization Response.

Effective through 12 April 2024 In the Canada Region, Europe Region, LAC Region, USRegion: An

Acquirer, a Merchant, a Payment Facilitator, or a VisaNet Processor that reattempts an Authorization

Request following a Decline Response, as specified in Section 7.3.6.3, Use of Authorization Response

Codes, must not intentionally manipulate any data elements from the original Authorization Request,

including, but not limited to, the following:

l

Acquiring Identifier

l

Acquirer and Merchant country

l

MCC

l

POS condition code

l

POS environment field

13 April 2024 Visa Public 123

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l

POS Entry Mode

l

Electronic Commerce Indicator

Effective 13 April 2024 An Acquirer, a Merchant, a Payment Facilitator, or a VisaNet Processor that

reattempts an Authorization Request following a Decline Response, as specified in Section 7.3.6.3, Use

of Authorization Response Codes, must not intentionally manipulate any data elements from the

original Authorization Request, including, but not limited to, the following:

l

Acquiring Identifier

l

Acquirer and Merchant country

l

MCC

l

POS condition code

l

POS environment field

l

POS Entry Mode

l

Electronic Commerce Indicator

Merchant Outlet country data must be the same throughout the Transaction life cycle (including, but

not limited to, an Authorization Request, the Clearing Record, and any subsequent Adjustment,

Dispute, Credit Transaction, Authorization Reversal, or Reversal).

ID# 0008752 Edition: Apr 2024 | Last Updated: Oct 2023

1.7.3 Acquirer Authorization Requests

1.7.3.1 Required Authorization Processing through VisaNet

In the AP Region, Canada Region, CEMEA Region, LAC Region, US Region: An Acquirer must process

an Authorization for an International Transaction through VisaNet, as specified in Section 1.7.1.1,

Authorization, Clearing, and Settlement of Transactions through VisaNet.

In the Europe Region: An Acquirer must process an Authorization for an Interregional Transaction

through VisaNet, as specified in Section 1.7.1.1, Authorization, Clearing, and Settlement of

Transactions through VisaNet. For International Transactions that are European Economic Area

Transactions, a Member will use a Visa Scheme Processor.

ID# 0003369 Edition: Apr 2024 | Last Updated: Oct 2019

13 April 2024 Visa Public 124

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1.7.3.2 Authorization Currency and Conversion

In the APRegion, CanadaRegion, CEMEARegion, LACRegion, US Region: An Authorization Request

must be expressed only in USD,the Transaction Currency, or the local fiat currency.

If the Transaction Currency is not USD, an Acquirer may convert the Authorization amount into USD

before sending the Authorization Request to Visa. If the Acquirer converts the Authorization amount,

it must use a generally accepted wholesale currency market rate.

An Acquirer must submit an Authorization Request for an ATM Cash Disbursement and a Manual

Cash Disbursement in the Transaction Currency.

In the Europe Region: An Authorization Request must be expressed in the Transaction Currency.

ID# 0008803 Edition: Apr 2024 | Last Updated: Oct 2017

1.7.4 Issuer Authorization Processing

1.7.4.1 Issuer Requirement to Evaluate Each Transaction

An Issuer must evaluate each Transaction that has been properly accepted, processed, and submitted

in order to make an Authorization, a Token provisioning,

or other decision, and must not block,

refuse, or decline Authorization Requests, Token provisioning requests,

or Transactions in a

systematic or wholesale manner,

unless there is an immediate fraud threat or an exception is

otherwise specified by applicable laws or regulations or in the Visa Rules.

In the LAC Region: This does not apply to a Card-Absent Environment Transaction conducted with a

Visa Electron Card or an unembossed Debit Card issued in Argentina, Brazil, Chile, Colombia,

Mexico,

or Trinidad and Tobago.

In the Europe Region (Belgium, Luxembourg, Portugal): This does not apply to a Visa Workplace

Benefits Card program

operating with a limited network exclusion, as specified in Section 4.12.13.5,

Visa Workplace Benefits Card Issuance Requirements – Europe Region.

Applies only to Visa Token Service participants and only to Stored Credential or Electronic Commerce enabler Tokens

Including, but not limited to: by BIN, by geography, by payment channel, by payment device, by Transaction type

An Issuer must send a Decline Response to an Authorization Request or a Token provisioning request if it has determined

that the Transaction is illegal.

Effective through 12 April 2024

This does not permit the blocking of Transactions in a wholesale manner by Transaction type, payment channel, or any

authentication method.

ID# 0029326 Edition: Apr 2024 | Last Updated: Apr 2024

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1.7.4.2 Referral Responses – Prohibited Transaction Types

An Issuer must not send a referral response to an Authorization Request. In the event that an Issuer

sends a referral response to such an Authorization Request, VisaNet will process the Authorization

Request according to the Issuer’s Stand-In Processing parameters.

ID# 0008832 Edition: Apr 2024 | Last Updated: Oct 2016

1.7.4.3 Reversal of Duplicate or Erroneous Authorizations

An Issuer must reverse an authorized Transaction from its Cardholder’s accountupon receipt of a

Reversal.

ID# 0004383 Edition: Apr 2024 | Last Updated: Oct 2022

1.7.4.4 Issuer Authorization of Chip Fallback Transactions – Canada Region and

LAC Region

Effective through 29 April 2024In the Canada Region: An Issuer or the Issuer’s agent must send a

Decline Response to all Authorization Requests for domestic Chip Fallback Transactions.

Effective 30 April 2024 An Issuer or the Issuer’s agent must send a Decline Response to

Authorization Requests for Chip Fallback Transactions, either:

l

In the Canada Region: For all domestic Chip Fallback Transactions

l

In the LAC Region: For all domestic and intraregional Chip Fallback Transactions

ID# 0029999 Edition: Apr 2024 | Last Updated: Apr 2023

1.7.5 Clearing

1.7.5.1 Transaction Currency for Original Presentments

An Acquirer must enter all original Presentments into Interchange in the exact amount of Transaction

Currency authorized by the Cardholder.

ID# 0008358 Edition: Apr 2024 | Last Updated: Oct 2014

1.7.5.2 Transaction Receipts with Illegible or Invalid Payment Credentials

If an Acquirer that receives a Transaction Receipt with an illegible or invalid Payment Credential

contacts the Issuer for assistance in obtaining the Payment Credential, the Issuer:

13 April 2024 Visa Public 126

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l

Must assist the Acquirer

l

May require that all requests be in writing

If the Acquirer is not able to identify the Issuer, the Acquirer that first received the Transaction

Receipt is liable, unless the Acquirer can identify the Issuer within 12 months of the Transaction Date

and clear the Transaction Receipt directly with the Issuer.

A Transaction processed under these procedures is not subject to Dispute Condition 12.1 (Late

Presentment).

ID# 0029041 Edition: Apr 2024 | Last Updated: Apr 2020

1.7.6 Settlement

1.7.6.11 Reimbursement for Valid Transactions

An Issuer must pay the Acquirer the amount due for a Transaction occurring with the use of a valid

Card. This includes Transactions resulting from geographically restricted Card use outside the country

of issuance.

ID# 0006558 Edition: Apr 2024 | Last Updated: Oct 2014

1.7.7 Reversals and Adjustments

1.7.7.1 Online Financial Transaction Reversal Requirements

An Acquirer must process a Reversal for an Online Financial Transaction if either the:

l

Acquirer, Merchant, or Acceptance Device did not receive an Authorization Response

l

Transaction is subsequently voided or cancelled

ID# 0005477 Edition: Apr 2024 | Last Updated: Oct 2014

1.7.7.2 Transaction Processing Subsequent to an Authorization Reversal

A Merchant must not deposit, and an Acquirer must not process, a Transaction that either:

l

Was subsequently reversed for the full amount

l

Represents the amount of the partial Authorization Reversal

ID# 0025598 Edition: Apr 2024 | Last Updated: Oct 2014

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1.7.7.3 Transaction Reversal or Adjustment

A Merchant must process a Reversal or an Adjustment within 30 calendar days

if it processed a

Transaction in error.

In the US Region: 45 calendar days for PIN-Authenticated Visa Debit Transactions

ID# 0008614 Edition: Apr 2024 | Last Updated: Oct 2016

1.7.7.4 Member Reversal of Duplicate or Erroneous Data

A Member that detects duplicate or erroneous data or is notified by Visa that it has processed such

data must reverse the data and do all of the following:

l

Identify the Processing Date of the Transaction that it is reversing

l

Maintain all data from the duplicated or erroneous Transaction, except for the appropriate Reversal

codes

l

Send the Reversals to Visa (or, in the case of a Domestic Transaction under a Private Agreement, to

the Receiving Member) within one business day of detection or notification of the duplicate or

erroneous data

ID# 0008878 Edition: Apr 2024 | Last Updated: Oct 2017

1.7.7.5 Issuer Reversal of a Duplicate or Erroneous Transaction

An Issuer must reverse any duplicate or erroneous Transaction from its Cardholder’s accountupon

receipt of Reversal information. Visa reverses the duplicate or erroneousTransaction usingthe

Currency Conversion Rateeffective on the Processing Date of the duplicate or erroneous data.

Visa assesses the responsible Members any foreign exchange loss due to currency fluctuation

between the Processing Date of the duplicate or erroneous data and the Reversal date using the

VisaNet fee collection process.

ID# 0008879 Edition: Apr 2024 | Last Updated: Oct 2017

1.7.7.6 Credit Reversals and Debit Adjustments

An Acquirer may initiate a credit Reversal only to correct inadvertent processing errors.

The Acquirer must process a credit Reversal or a debit Adjustment within 30

calendar days of the

Processing Date of the initial Credit Transaction.

In the US Region: 45 calendar days for PIN-Authenticated Visa Debit Transactions.

13 April 2024 Visa Public 128

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ID# 0008880 Edition: Apr 2024 | Last Updated: Apr 2020

1.8 Processing Products

1.8.1 Original Credits

1.8.1.1 Original Credit Acceptance

A Member must accept an incoming Original Credit Transaction

1,2

unless prohibited by applicable

laws or regulations.

If prohibited by applicable laws or regulations, the Member must submit a written request to Visa to

block incoming Original Credit Transactions.

Excluding all Non-Reloadable Prepaid Cards and Reloadable Prepaid Cards where Cardholder data is not on file or where

the source of loads may be restricted (for example: government, healthcare, or insurance programs).

This does not apply to Visa Commercial Cards.

ID# 0004062 Edition: Apr 2024 | Last Updated: Oct 2023

1.9 Interchange

1.9.1 Interchange Reimbursement Fee (IRF) Determination and Payment

1.9.1.2 What is Interchange? – AP, Canada, CEMEA, LAC, US Regions

In the AP Region, Canada Region, CEMEA Region, LAC Region, US Region: Interchange

Reimbursement Fees (IRF) help to make electronic payments possible by enabling Visa to expand

Card holding and use, increasing the places consumers can use their Cards, and providing a financial

incentive for all parties to pursue system-wide improvements, such as rewards, innovation, and

security. An Interchange Reimbursement Fee is a default transfer price between Acquirers and Issuers

within the Visa system. Merchants pay what is known as a merchant discount fee or merchant service

fee negotiated with their Acquirer, which may take into account the interchange fee, processing

costs, fees for terminal rental, customer services, and other financial services. The merchant discount

fee or merchant service fee is negotiated individually with the Merchant’s Acquirer; each Acquirer sets

its fees independently, in competition with other Acquirers, competing payment systems, and other

forms of payment.

Interchange is consistently monitored and adjusted – sometimes increased and sometimes decreased

– in order to ensure that the economics present a competitive value proposition for all parties.

Interchange Reimbursement Fees must encourage Card holding and use, as well as expansion in the

13 April 2024 Visa Public 129

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number and types of businesses that accept Cards. If rates are too high, retailers won’t accept Cards;

if rates are too low, Issuers won’t issue Cards. Visa may establish different Interchange

Reimbursement Fees in order to promote a variety of system objectives, such as enhancing the value

proposition for Visa products, providing incentives to grow merchant acceptance and usage, and

reinforcing strong system security and Transaction authorization practices.

ID# 0024115 Edition: Apr 2024 | Last Updated: Oct 2017

1.9.1.3 Interchange Reimbursement Fee (IRF) Requirements

A Transaction must meet the qualifications defined in the Visa Rules and in the applicable

Interchange Reimbursement Fee rate qualification guide to qualify for a particular Interchange

Reimbursement Fee.

An Acquirer must also request the correct Interchange Reimbursement Fee, as applicable, when

submitting a Transaction into Interchange.

ID# 0006611 Edition: Apr 2024 | Last Updated: Apr 2018

1.9.2 Interchange Reimbursement Fee (IRF) Adjustments and Compliance

1.9.2.1 Interchange Reimbursement Fee (IRF) Adjustments

If Interchange Reimbursement Fees are inappropriately received or paid by an Issuer or Acquirer, Visa

reserves the right to rectify the improper allocations.

Interchange Reimbursement Fee adjustments may be made only as follows:

l

Adjustments are limited to Transactions occurring within 90 calendar days of the Processing Date

of the oldest Transaction submitted by the Member or identified by Visa.

l

Transactions beyond 90 calendar days (not to exceed 2 years from the date submitted by the

Member or identified by Visa) may be considered for adjustment if Visa determines that

extenuating circumstances prevented the Member from discovering the violation sooner.

l

When an Issuer or Acquirer is at fault, the impacted Issuer(s) or Acquirer(s) is required to use the

Interchange Reimbursement Fee Compliance process.

l

Adjustments will only be made when the total Interchange Reimbursement Fee amount to be

corrected is greater than USD 2,500.

l

Individual correcting Transactions will only be made if the amount of the correcting transaction is

greater than USD 50.

Interchange Reimbursement Fee adjustments will be processed as follows:

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l

Visa will notify the Members that will receive a correcting Transaction.

l

Visa will initiate a correcting Fee Collection Transaction (Transaction code 10) and Funds

Disbursement Transaction (Transaction code 20) through VisaNet.

l

All Visa decisions are final.

l

A Member may appeal a decision only if the Member can provide new evidence not previously

available and the amount in dispute is greater than USD 5,000.

Visa may, at its sole discretion, offer to use this adjustment process regardless of the adjustment

amount.

ID# 0007972 Edition: Apr 2024 | Last Updated: Apr 2018

1.9.2.2 Interchange Reimbursement Fee (IRF) Compliance Filing Requirements

A Member must not file for Interchange Reimbursement Fee (IRF) Compliance unless all of the

following:

l

A violation of the Visa Rules or any applicable regional or domestic Interchange Reimbursement

Fee (IRF) guide occurred.

l

The Member received or paid incorrect IRF as a direct result of the violation by another Member.

l

The Member’s financial loss is a direct result of an incorrectly applied IRF rate.

l

The Member would not have incurred a financial loss if the violation had not occurred.

l

In the AP Region, Canada Region, CEMEA Region, LAC Region, US Region: The violating

Transactions were processed through VisaNet.

l

The IRF rate paid or received is not governed by any bilateral agreements, Visa-Administered

Bilateral Agreements, or Private Agreements, either domestic, intraregional, or interregional.

l

Visa has granted permission for the Member to file.

A Member may aggregate up to 1,000,000 Transactions into a single IRF Compliance case if the

Transactions involved the same opposing Member and violated the same rule or the same

requirement in an applicable IRF guide. The value of the aggregated Transactions must not be less

than the sum of the IRF screening fee and the IRF filing fee specified in the applicable regional fee

guide.

Visa may refuse to allow a filing Member to participate in IRF Compliance. The decision by Visa to

refuse participation is final and not subject to any challenge.

A Member must comply with the Interchange Reimbursement Fee Compliance Process Guide.

ID# 0001501 Edition: Apr 2024 | Last Updated: Oct 2023

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1.10 Risk

1.10.1 Corporate Risk Reduction

1.10.1.2 Member Risk Reduction Requirements

Visa may impose conditions on a Member if it reasonably believes the Member’s Visa Program is not

being operated in a sound and safe manner or exposes Visa or its Members to financial loss.

Upon receipt of instructions imposing conditions, a Member or its agent must implement risk

reduction measures that may include, but are not limited to, the following:

l

Prohibiting or limiting any of the following actions:

– Issuing new or reissued Cards

– Signing or re-signing Merchants

– Using an agent

l

Blocking the Authorization of Transactions or prohibiting Acquirers from obtaining Authorization

for Transactions on behalf of certain Merchants

l

Terminating some or all Merchants that:

– Conduct Transactions where the Cardholder is not present or where goods or services are to be

delivered after the Transaction Date

– Receive a volume of Disputes that substantially exceeds the system average

l

Pledging collateral to secure one or more of the following:

– A Member’s or agent’s obligations to Visa

– The liquidity impact to Visa of Settlement or other payments due to Visa from a Member, its

affiliates, or its Clearing Processor as approved by Visa

– Reimbursement to Visa for any expenses incurred to ensure compliance

l

Consolidating into a single Funds Transfer Settlement Reporting Entity all or some of the

Settlement payments in a Settlement Currency of a Member and its affiliates or of a Clearing

Processor as approved by Visa for one or more Members arising from one or more Settlement

systems operated by Visa or its subsidiaries or affiliates, operated privately, or by a third party, in

order to reduce the liquidity impact of such Settlement payments on Visa (Settlement Payment

Consolidation) or risk of Settlement Loss (as defined in Section 9.01 of the Visa International

Certificate of Incorporation and By-Laws and the Visa U.S.A. Inc. Certificate of Incorporation and By-

Laws).

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l

Redirecting Settlement funds to avoid potential losses, as specified in Section X, including, but not

limited to, the following:

– Rerouting Settlement funds around the financial institution that normally holds the Member’s or

agent’s funds

– Holding funds to ensure the correct application of Cardholder funds

– Holding funds for the payment of Merchants

– Holding funds for the future payment of Disputes

– Withholding funds for the purpose of obtaining collateral or meeting other Member obligations

– Prohibiting or limiting a Member’s right to sponsor eligible Members

l

Requiring a Member to change one or more of its designated agents

l

Requiring a Member to provide to Visa data establishing, for any given time period, the amount of

funds that a Merchant has received from Cardholders, for goods and services that it is yet to

provide to those Cardholders

Visa is not obligated to take these actions to protect any Member, Merchant, Sponsored Merchant, or

Cardholder from financial injury.

ID# 0005057 Edition: Apr 2024 | Last Updated: Apr 2019

1.10.1.3 Visa Right to Terminate Merchants, Payment Facilitators, Marketplaces,

Sponsored Merchants, or Digital Wallet Operators

Visa may permanently prohibit a Merchant, Marketplace, Payment Facilitator, Sponsored Merchant,

Digital Wallet Operator, or any other entity, or one or more of its principals, from participating in the

Visa Program or Visa Electron Program for any reasons it deems appropriate, such as:

l

Fraudulent activity

l

Presenting Transaction Receipts that do not result from an act between a Cardholder and a

Merchant or Sponsored Merchant (laundering)

l

Entering into a Merchant Agreement or Payment Facilitator Agreement under a new name with the

intent to circumvent the Visa Rules

l

Activity that causes the Acquirer to repeatedly violate the Visa Rules

l

Activity that has resulted in Visa prohibiting the Merchant, Sponsored Merchant, Payment

Facilitator, or Digital Wallet Operator from participating in the Visa Program or Visa Electron

Program

l

Exceeding the Visa Dispute Monitoring Program thresholds

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l

Entering illegal or brand-damaging Transaction activity into the Visa payment system

l

Any other activity that may result in undue economic hardship or damage to the goodwill of the

Visa system

Visa may contact a Merchant, a Marketplace and its retailers, a Sponsored Merchant, a Payment

Facilitator, or a Digital Wallet Operator directly, if warranted.

In the Europe Region: An Acquirer may appeal to Visa with proof that the prohibition or any other

conditions are impractical or unwarranted.

ID# 0007120 Edition: Apr 2024 | Last Updated: Oct 2020

1.10.1.4 Acquirer Responsibility for Costs Due to Failure to Terminate a Merchant

An Acquirer is responsible for all costs incurred by Visa due to the Acquirer’s failure to terminate a

Merchant, Marketplace, Sponsored Merchant, Payment Facilitator, or Digital Wallet Operator. This

includes attorney’s fees and costs of any legal action undertaken by Visa to protect the goodwill of

the Visa system or to prevent further harm to Members and Cardholders.

ID# 0007117 Edition: Apr 2024 | Last Updated: Oct 2020

1.10.1.5 Visa Anti-Bribery Program

Visa maintains an anti-bribery compliance program designed to comply with the requirements and

restrictions of the United States Foreign Corrupt Practices Act and other anti-bribery laws and

regulations. A Member must cooperate with Visa in the administration of the Visa anti-bribery

program, including, but not limited to, the following:

l

Complete, upon request, the Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF), Sanctions

and Anti-Bribery Compliance Program Questionnaire disclosing the level of ownership, control, and

influence of any non-US government, agency, or instrumentality thereof in the Member

l

Notify Visa when a non-US government acquires (either as one agency or collectively through

different agencies or instrumentalities) an equity interest of 30% or more in the Member

This does not applyin the US Region.

ID# 0008836 Edition: Apr 2024 | Last Updated: Oct 2017

1.10.1.6 Anti-Money Laundering Program Requirement

A Member must implement and maintain an anti-money laundering program that is reasonably

designed to prevent the use of the Visa system to facilitate money laundering or the financing of

terrorist activities.

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ID# 0000652 Edition: Apr 2024 | Last Updated: Oct 2014

1.10.1.7 Visa Anti-Money Laundering Program – Member Requirements

A Member must cooperate with Visa in the administration of the Visa anti-money laundering

program, including, but not limited to, the following:

l

Completing the Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF), Sanctions and Anti-

Bribery Compliance Program Questionnairewhen requested by Visa and returning the form within

the time limit specified by Visa

l

Providing all of the following to Visa upon request:

– The Member’s written AML/ATF policy and corresponding procedures

– Records demonstrating the content of, and relevant personnel attendance at, training in the

Member’s AML/ATF program requirements

– A copy of the Member’s most recent independent AML/ATF and sanctions program audit

report, which must be less than 2 years old

– An organizational chart for the Member’s AML/ATFand sanctions unit

– Upon Visa request, any other information or documentation relating to the Member’s AML/ATF

program or sanctions program operations and compliance

l

Assisting Visa in guarding against Card issuance and Merchant acquiring in circumstances that

could facilitate money laundering or the financing of terrorist activities

l

Identifying circumstances of heightened risk and instituting policies, procedures, controls, or other

actions specified by Visa to address the heightened risk

l

Ensuring the adequacy of the applicable controls implemented by designated agents of the

Member

ID# 0000653 Edition: Apr 2024 | Last Updated: Oct 2021

1.10.1.8 Anti-Money Laundering Program Compliance

If Visa determines that a Member or the Member’s designated agent has failed to comply with

Section 1.10.1.6, Anti-Money Laundering Program Requirement, and Section 1.10.1.7, Visa Anti-Money

Laundering Program – Member Requirements, Visa may impose conditions on or require additional

actions of the Member or the Member’s designated agent to prevent possible money laundering or

financing of terrorist activities. These actions may include, but are not limited to, the following:

l

Implementation of additional policies, procedures, or controls

l

Termination of a Merchant Agreement

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l

Termination of a Cardholder agreement

l

Termination of an agent agreement

l

Termination of Visa membership

l

Non-compliance assessments

l

Other action that Visa in its sole discretion determines to take with respect to the Member or the

Member’s designated agent

ID# 0000654 Edition: Apr 2024 | Last Updated: Oct 2014

1.10.1.9 Acquirer Risk Reporting Requirements

An Acquirer must provide Visa, upon Visa’s request and within 5 business days, with the following

information regarding its Merchants, Payment Facilitators, Marketplaces, Digital Wallet Operators, or

any other entity for which that Acquirer is responsible:

l

A complete overview of its underwriting process for any given entity

l

A complete breakdown of its current Visa exposure, and collateral taken against those Visa-related

positions with Merchants and any other entities

l

A detailed breakdown of its risk monitoring policy, including, but not limited to the following:

– Minimum financial requirements for any given entity

– How an entity’s financial position is determined

– How the Acquirer protects itself against any given entity’s potential failure

– Policy for managing credit risk on an acquiring portfolio and determining collateral taken

– Exact collateral volumes maintained for potential Dispute exposure, in particular for future

service Merchants

– The process for terminating a relationship with any given entity

l

Any process for withholding funds from an entity, where the Acquirer has reason to believe that

the entity is not in a position to meet its Visa obligations, provide a future service, or is facing

insolvency.

If an Acquirer fails to provide Visa with satisfactory information, Visa reserves the right to impose

additional risk criteria, as specified in Section 1.10.1.2, Member Risk Reduction Requirements.

ID# 0030757 Edition: Apr 2024 | Last Updated: Apr 2021

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1.10.2 Integrity Risk

1.10.2.1 Acquirer Integrity Risk Requirements

An Acquirer must ensure that a Merchant, Marketplace, Payment Facilitator, Ramp Provider,

Sponsored Merchant, or Digital Wallet Operator does not accept Cards for, or display a Visa-Owned

Mark on a websiteand/or an applicationthat is used in relation to any of the following:

l

The purchase or trade of photographs, video imagery, computer-generated images, cartoons,

simulation, or any other media or activities including, but not limited to, activities listed in Section

1.3.3.4, Integrity Risk and Use of the Visa-Owned Marks

l

The purchase of adult content or services using MCC 5967 (Direct Marketing – Inbound

Teleservices Merchant) where the Merchant, Ramp Provider

or Sponsored Merchant is not

compliant with all the requirements specified in Section 3.1.1 of the Visa Integrity Risk Program

Guide

l

The purchase of products that claim or imply a similar efficacy as prescription drugs, controlled

substances, or recreational/street drugs, irrespective of claims of legality

Effective 13 April 2024 In the AP Region, CEMEA Region, Europe Region, LAC Region (except Brazil), US Region, and

effective 19 October 2024 Canada Region, LAC Region (Brazil)

ID# 0026376 Edition: Apr 2024 | Last Updated: Apr 2024

1.10.2.2 Visa Integrity Risk Program – Requests for Information

An Acquirer must provide information relating to any request for information presented by Visa, its

designees, or any regulatory agency, as required under the Visa Integrity Risk Program.

The Acquirer must provide the required information in writing as soon as possible, but no later than 7

business days following receipt of the request for information.

ID# 0026384 Edition: Apr 2024 | Last Updated: Apr 2023

1.10.3 Investigations

1.10.3.1 Investigation Assistance to Other Members

A Member must assist other Members in an investigation of fraudulent activity with a Cardby

performing tasks including, but not limited to, the following:

l

Interviewing Merchants, Sponsored Merchants, Cardholders, suspects, witnesses, and law

enforcement personnel

13 April 2024 Visa Public 137

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l

Obtaining handwriting samples, photographs, fingerprints, and any other similar physical evidence

l

Recovering lost, stolen, or Counterfeit Cards

l

Providing information to proper authorities for the possible arrest of suspects, at the Issuer’s

request

l

Performing any other reasonable investigative assistance

l

Inspecting the facilities of credit card manufacturers, embossers, encoders, mailers, and chip

embedders

ID# 0007122 Edition: Apr 2024 | Last Updated: Apr 2020

1.10.3.2 Investigation Assistance Standards – CEMEA and Europe Regions

In the CEMEA Region, Europe Region: A Member must respond to a request from another Member,

Visa, or a law enforcement agency

ID# 0002249 Edition: Apr 2024 | Last Updated: Apr 2017

1.10.4 Information Security

1.10.4.1 Account and Transaction Information Security Requirements

A Member must:

l

Maintain all materials or records in any form that contains account or Transaction Information in a

safe and secure manner with access limited to authorized personnel, as specified in the Payment

Card Industry Data Security Standard (PCI DSS)

l

Ensure that agreements and contracts with agents and Merchants clearly establish their

responsibilities to meet Visa standards, the liabilities for failure to meet the standards, and the

requirement to allow for inspections by the Member or Visa

l

Ensure that all agents and Merchants with access to account or Transaction Information comply

with the Payment Card Industry Data Security Standard (PCI DSS)

l

Ensure that all agents and Merchants do not store any of the following subsequent to

Authorization:

– Full contents of any data taken from the Magnetic Stripe (on a Card, in a Chip, or elsewhere)

– Card Verification Value 2

– PIN or the encrypted PIN block

– Token Authentication Verification Value (TAVV)

13 April 2024 Visa Public 138

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– Dynamic Token Verification Value (DTVV)

– Visa Secure Cardholder Authentication Verification Value (CAVV)

l

Comply with, and ensure that all agents and Merchants use Payment Applications that comply

with, the Payment Card Industry (PCI) Software Security Framework (SSF) Standards

l

Upon request, certify to Visa that agents and Merchants are in compliance with the Payment Card

Industry Data Security Standard (PCI DSS)

l

Comply with, and ensure that its Merchants, agents, and other third parties with access to account

or Transaction Information comply with, the requirements of the Account Information Security

Program. The Member must also ensure that its Merchants both:

– Implement and maintain all Account Information Security Program requirements

– If using a Third Party Agent, ensure that the Third Party Agent implements and maintains all of

the security requirements specified in the Account Information Security Program

ID# 0002228 Edition: Apr 2024 | Last Updated: Apr 2024

1.10.4.2 Cardholder and Transaction Information Disclosure Limitations

An Acquirer must obtain the prior written consent of the Issuer and Visa before disclosing a

Cardholder’s Payment Credential, personal information, or other Transaction Information to a third

party that is not the Agent of the Acquirer for the sole purpose of completing a Transaction. The

Acquirer must ensure that its Agents and the Agents’ employees both:

l

Make no further disclosure of the information

l

Treat the information as confidential

An Acquirer or Merchant may disclose Transaction Information to third parties without the prior

consent of the Issuer and Visa only for the following:

l

Supporting a loyalty program

l

Providing fraud control services

l

Assisting the Merchant in completing the initial Merchant Transaction

An Agent must not disclose a Payment Credential, Cardholder personal information, or other

Transaction Information to third parties, other than for the sole purpose of completing the initial

Merchant Transaction or with the permission of the Issuer, Acquirer, or Visa. Any such disclosure must

be subject to strict, written, confidentiality obligations.

ID# 0026337 Edition: Apr 2024 | Last Updated: Apr 2020

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1.10.4.3 Issuer Fraud Activity Reporting

A Member must immediately report all fraudulent activity or other criminal risk activity to Visa.

An Issuer must report

Fraud Activity through VisaNet, as specified in the Fraud Reporting System

(FRS) User’s Guide, when either a:

l

Fraudulent user has obtained a Card or Payment Credential

l

Card was obtained through misrepresentation of identification or financial status

The Issuer must report the Fraud Activity upon detection, but no later than either:

l

60 calendar days from the Transaction Date

l

30 calendar days following the receipt of the Cardholder’s dispute notification, if the notification is

not received within the 60-calendar day period

At least 90% of rejected Fraud Activity must be resubmitted and accepted into the Fraud Reporting

System.

In addition, for Intraregional Transactions in the Europe Region, an Issuer must report Fraud Activity

through its Visa Scheme Processor, as follows:

l

Upon detection, ensuring that 80% of fraud related to lost Cards, stolen Cards, Counterfeit Cards,

and Cards not received is reported within 60 days of the Transaction Date, and the remaining 20%

within 90 days

l

Upon detection, ensuring that 65% of fraud related to fraudulent use of Payment Credentials is

reported within 60 days of the Transaction Date and the remaining 35% within 90 days

l

Immediately upon confirmation, but no later than 60 days after the Transaction Date

If an Issuer does not comply with these fraud reporting requirements, the Issuer is subject to non-

compliance assessments.

In the Europe Region: From the date a Payment Credential is reported to Visa, the Payment Credential is outside of the

scope of the requirements of the Payment Card Industry Data Security Standard (PCI DSS) and Account Information

Security Program.

ID# 0002389 Edition: Apr 2024 | Last Updated: Apr 2020

1.10.4.4 Counterfeit Activity Reporting

An Acquirer must report both:

l

Counterfeit activity through VisaNet(or, in the Europe Region, through its Visa Scheme Processor),

using the appropriate fraud advice transaction code in the same manner as specified for Issuers in

13 April 2024 Visa Public 140

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Section 1.10.4.3, Issuer Fraud Activity Reporting

l

A counterfeit Transaction within 60 calendar days of a Dispute, when no pre-Arbitration or

Arbitration right is available

ID# 0002395 Edition: Apr 2024 | Last Updated: Oct 2019

1.10.5 High-Integrity Risk Activity

1.10.5.1 High-Integrity Risk Acquirer Requirements

Before submitting Transactions completed by High-Integrity Risk Merchants, High-Risk Internet

Payment Facilitators, High-Integrity Risk Sponsored Merchants, or High-Integrity Risk Ramp

Providers

an Acquirer must do all of the following:

l

Submit to Visa a High-Integrity Risk Acquiring Registration Application and be approved by Visa

l

Undergo a financial review, have the required equity capital, be investment-grade and/or commit

to compensating controls (for example: collateral requirements) as determined by Visa

l

Comply with the Visa Rules and all requirements and policies

l

Conduct appropriate due diligence to ensure compliance with the Visa Global Acquirer Risk

Standards

l

Be in good standing in all Visa risk management programs

l

If required, complete and fully remediate an on-site, operational Global Acquirer Risk Standards

(GAR) review

l

– High-Integrity Risk Merchants

(using the Program Request Management application)

– High-Risk Internet Payment Facilitators and their High-Integrity Risk Sponsored Merchants

– Effective 13 April 2024 In the AP Region, CEMEA Region, Europe Region, LAC Region (except

Brazil), US Region, and effective 19 October 2024 Canada Region, LAC Region (Brazil): High-

Integrity Risk Ramp Providers and their High-Integrity Risk Conversion Affiliates

– Agents that solicit High-Integrity Risk Merchants, as high-risk Agents or High-Risk Internet

Payment Facilitators

Effective 13 April 2024 In the AP Region, CEMEA Region, Europe Region, LAC Region (except Brazil), US Region, and

effective 19 October 2024 Canada Region, LAC Region (Brazil)

This does not apply to Merchants assigned MCC 5122 or 5912 if the Merchant is accredited by the National Association of

Boards of Pharmacy (NABP) or other regulatory body recognized by Visa.

ID# 0026383 Edition: Apr 2024 | Last Updated: Apr 2024

13 April 2024 Visa Public 141

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1.10.6 Recovered Cards

1.10.6.1 Recovered Card Return Requirement

An Acquirer must notify the Issuer, through Visa Resolve Onlineor an Electronic Documentation

Transfer Method, that its Card has been recovered, as specified in Section 10.7.1.2, Recovered Card

Handling and Notification Requirements.

ID# 0001782 Edition: Apr 2024 | Last Updated: Apr 2020

1.10.7 Counterfeit Losses

1.10.7.1 Assignment of Liability for Counterfeit Transactions

Visa assigns liability to the Issuer or Acquirer for counterfeit Transactions, based on the following

priorities in the order shown:

l

The Acquirer, if the Merchant identified on a Visa Fraud Monitoring Program report in the

enforcement periodcontributed to the origination of the Transaction Receipt

for a counterfeit

Transaction

l

The Acquirer first receiving the Transaction Receipt, if the BIN is not assigned to an Issuer

l

The Acquirer that submitted the Transaction into Interchange, if an Authorization was required and

not obtained or, where the AccountNumber is displayed on the Card, the Payment Credential

encoded on the Magnetic Stripe of a Card was authorized but was different than the embossed or

printed Account Number submitted into Interchange

l

The Issuer identified by the manufacturer product information printed on the reverse side of the

Card, if the counterfeit Card was recovered and resulted from either the loss or theft of an

unembossed and unencoded Card

l

The Issuer, if its BIN appears on the Transaction Receipt or Clearing Record for the counterfeit

Transaction

For a Transaction Receipt with an illegible or invalid Payment Credential, an Acquirer must comply

with the applicable rules for counterfeit losses if it appears that a Transaction Receipt resulted from

the use of either a:

l

Counterfeit Card

l

Misembossed or misencoded Card

For qualifying Transactions, the EMV liability shift, as specified in Section 1.11.1.2, EMV Liability Shift Participation, takes

precedence over this section to assess liability in the event of a conflict.

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ID# 0001812 Edition: Apr 2024 | Last Updated: Oct 2023

1.10.8 Agents

1.10.8.1 VisaNet Processor and Visa Scheme Processor Registration

A Member that uses a VisaNet Processor, whether or not the VisaNet Processor is itself a Member,

must submit to Visa the applicable regional client information questionnaire before using the VisaNet

Processor.

A Member that uses a non-Member as a VisaNet Processor must ensure that the non-Member

submits to Visa a VisaNet Letter of Agreement before using the non-Member as a VisaNet Processor.

In the Europe Region: In addition, a Membermust do all of the following for a Processor or Visa

Scheme Processor:

l

Notify Visa of any change to the identity of the Processor or Visa Scheme Processor, or any change

to the scope of the activities of the Processor or Visa Scheme Processor, within 5 business days of

such change

l

Only contract processing services to a Processor or Visa Scheme Processor that is compliant with

the Payment Card Industry Data Security Standard (PCI DSS)

l

Ensure that the Processor or Visa Scheme Processor (or third party) operates a separate Funds

Transfer Settlement Reporting Entity (FTSRE) for the transfer of the Settlement Amount

ID# 0025870 Edition: Apr 2024 | Last Updated: Oct 2016

1.10.8.2 Losses Resulting from Unauthorized Use

For losses resulting from Unauthorized Use, Visa may collect funds from one of the following, in the

order listed:

l

Member that caused the loss or Members using the Third Party Agent that caused the loss

l

VisaNet Processor that processed the Transaction, if either:

– No Member is directly responsible for the Unauthorized Use

– The responsible Member does not meet its financial obligations

l

Members using the VisaNet Processor, if the VisaNet Processor does not meet its financial

obligations

ID# 0025888 Edition: Apr 2024 | Last Updated: Oct 2015

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1.10.8.3 VisaNet Processor Contingency Plans

A Member must have in place contingency plans for its VisaNet Processors in the event of failure,

including bankruptcy, insolvency, or other suspension of business operations. The contingency plans

must be provided to Visa upon request.

ID# 0025877 Edition: Apr 2024 | Last Updated: Oct 2014

1.10.8.4 VisaNet Processor or Visa Scheme Processor Disclosure of Account or

Transaction Information

A Member, in the event of the failure, including bankruptcy, insolvency, or other suspension of

business operations of one of its VisaNet Processorsor Visa Scheme Processors, must ensure that the

VisaNet Processor or Visa Scheme Processor does not sell, transfer, or disclose any materials that

contain Payment Credentials, personal information, or other Transaction Information to any other

entity. The Member must ensure that its VisaNet Processor or Visa Scheme Processor either:

l

Returns this information to the Member

l

Provides acceptable proof of secure destruction of this information to the Member

ID# 0025875 Edition: Apr 2024 | Last Updated: Apr 2020

1.10.8.5 Third Party Agent Contract

A Third Party Agent must have a direct written contract with a Member to perform services on behalf

of the Member.

ID# 0025892 Edition: Apr 2024 | Last Updated: Oct 2014

1.10.8.6 Third Party Agent Registration Requirements

A Member must register a Third Party Agent with Visa. The Member must both:

l

Use theProgram Request Management application

l

Complete the appropriate regional forms

Registration must be completed before the performance of any contracted services or Transaction

activity.

Visa may deny or reject a Third Party Agent’s registration at any time with or without cause.

A Third Party Agent is exempt from the registration requirementsif it only provides services on behalf

of its affiliates (including parents and subsidiaries) that are Members that own and control at least

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25% of the Third Party Agent. This exemption does not apply to Business Payment Service Providers,

Consumer Bill Payment Service Providers, Marketplaces, Payment Facilitators, and Digital Wallet

Operators that operate Staged Digital Wallets.

ID# 0025893 Edition: Apr 2024 | Last Updated: Oct 2021

1.10.8.7 Merchant Third Party Agent Registration Requirements

An Acquirer must register with Visa a Third Party Agent that has been engaged by any of its

Merchants before the performance of any contracted services by the Third Party Agent on behalf of

the Merchant.

Registration of a Third Party Agent is specific to each Acquirer, and requires a separate registration by

each Acquirer for any Third Party Agent that either:

l

Uses its Acquiring Identifier

l

Provides contracted services on behalf of the Acquirer or its Merchants

In the LACRegion: Registration is per Acquirer, per country, and per Third Party Agent.

ID# 0025894 Edition: Apr 2024 | Last Updated: Apr 2020

1.10.8.8 Assignment of Liability for Third Party Agents

If a Member fails to meet its responsibilities regarding Third Party Agents, Visa assigns liability in the

following order of precedence:

l

The Member from whose performance or nonperformance (including by its Third Party Agents) the

loss arose

l

The Member, if any, that sponsored the above Member, with limitations specified in the Visa

International Certificate of Incorporation and By-Laws, Section 2.11

l

BIN Licensees of BINs or Acquiring Identifier Licensees of Acquiring Identifiers used in Transactions,

with limitations specified in Section X

l

Other BIN Users or Acquiring Identifier Users, in an order determined by Visa

ID# 0025904 Edition: Apr 2024 | Last Updated: Oct 2019

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1.10.9 Card Manufacturing and Distribution

1.10.9.1 Card Security Staff Requirements

An Issuer must have a qualified fraud control and Card security officer and staff that are primarily

responsible for all areas of security for Cards. The security staff must do all of the following:

l

Investigate all fraudulent use of the Issuer’s Cards

l

Plan and supervise the manufacturing, embossing, encoding, printing, and mailing of the Issuer’s

Cards

l

Plan and supervise the physical protection of the Issuer’s Center and building

l

Participate in Center employee background investigations

ID# 0002394 Edition: Apr 2024 | Last Updated: Apr 2020

1.10.9.2 Visa Product Personalization

An Issuer that personalizes Visa Products on its own behalf must create and maintain a secure

environment.

An Issuer that personalizes Visa Products on behalf of other Issuers must comply with all of the

following:

l

Payment Card Industry (PCI) Card Production and Provisioning – Physical Security Requirements

l

Payment Card Industry (PCI) Card Production and Provisioning – Logical Security Requirements

l

Applicable regional Issuer personalization policy

For each Third Party Agent performing Instant Card Personalization Issuance, the Issuer must validate

the Third Party Agent’s compliance with the Visa Global Instant Card Personalization Issuance Security

Standards, and complete an annual self-audit against the Visa Global Instant Card Personalization

Issuance Security Standards, for each location.

ID# 0025518 Edition: Apr 2024 | Last Updated: Apr 2017

1.10.9.3 Use of Approved Manufacturers, Approved Personalizers, and Approved

Fulfillment Vendors

An Issuer that does not perform its own manufacturing, personalization, or fulfillment must do all of

the following:

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l

Use a Visa-approved manufacturer to manufacture or print Visa Products

l

Ensure that the Visa-approved manufactureris posted on the Visa Global Registry of Service

Providers and complies with the Payment Card Industry (PCI) Card Production and Provisioning –

Physical Security Requirements

l

Use a Visa-approved Card personalizer or Visa (if applicable) to personalize Visa Products, unless

using an Instant Card Personalization Issuance Agent or another Issuer

l

Ensure that the Visa-approvedpersonalizeris posted on the Visa Global Registry of Service

Providers

l

Use a Visa-approved fulfillment vendorto package, store, or ship Visa Products unless using a

Distribution Channel Vendor for pre-manufactured, commercially ready Visa Products

l

Ensure that the Visa-approved fulfillment vendor is posted on the Visa Global Registry of Service

Providers

l

Immediately notify Visa if the Visa-approved manufacturer, personalizer, and/orfulfillment vendor

is unable to complete its responsibilities

l

Contract through another Issuer, Visa (if applicable), or Visa-approved manufacturer,personalizer,

or fulfillment vendor for the production, personalization, or fulfillment of Visa Products

l

Review completed Card products for accuracy, including embossing, printing, and encoding

ID# 0025517 Edition: Apr 2024 | Last Updated: Oct 2023

1.10.9.5 Use of Distribution Channel Vendors

An Issuer that uses a Distribution Channel Vendor must validate annually the Distribution Channel

Vendor’s compliance with the Visa Global Physical Security Validation Requirements for Data

Preparation, Encryption Support and Fulfillment Card Vendors.

ID# 0025520 Edition: Apr 2024 | Last Updated: Oct 2014

1.11 Dispute Resolution

1.11.1 Disputes

1.11.1.1 Attempt to Settle

Before initiating a Dispute, the Issuer must attempt to honor the Transaction.

If the attempt fails and the Issuer has already billed the Transaction to the Cardholder, the Issuer must

credit the Cardholder for the disputed amount.

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The Issuer must not be reimbursed twice for the same Transaction.

A Cardholder must not be credited twice as a result of both a Dispute and a Credit processed by a

Merchant.

An Issuer must not process a Dispute unless the Cardholder has suffered a financial loss

(for

example: the Cardholder did not receive merchandise or services, was charged incorrectly, or did not

authorize the Transaction).

This does not apply to Dispute category 11 (Authorization). For a Dispute category 11 (Authorization), the Issuer must

have suffered a financial loss.

ID# 0003287 Edition: Apr 2024 | Last Updated: Oct 2023

1.11.1.2 EMV Liability Shift Participation

The EMV liability shift applies to qualifying Transactions, as follows:

Region Transactions in EMV Liability Shift

AP Region

All domestic,

intraregional, and interregional

counterfeit POS

Transactions, except Domestic Transactions in Mainland China

All domestic,

intraregional, and interregional

counterfeit ATM

Transactions, except Domestic Transactions in Mainland China

Canada Region,

CEMEA

Region,

Europe Region,

LAC

Region

All domestic, intraregional, and interregional

POS and ATM Transactions

US Region

All domestic and interregional

counterfeit POS and ATM Transactions

In the AP Region (Malaysia): Also includes fraudulent qualifying domestic non-counterfeit Transactions completed

with a lost or stolen Card or “not received item” (NRI) except qualifying Visa Easy Payment Service Transactions

Among Visa Regions, individual countries and/or territories participating in the EMV liability shift

Except for fraudulent qualifying Visa Easy Payment Service Transactions completed with a lost or stolen Card or “not

received item” (NRI)

Counterfeit, lost, stolen, and “not received item” (NRI) fraud only

Table 1-11: EMV Liability Shift Participation

ID# 0008190 Edition: Apr 2024 | Last Updated: Oct 2020

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1.11.2 Arbitration and Compliance

1.11.2.1 Invalid Arbitration or Compliance Case Rejection

If Visa determines that an Arbitration or Compliance request is invalid, it may reject the case and

retain the review fee.

ID# 0001449 Edition: Apr 2024 | Last Updated: Apr 2020

1.11.2.2 Arbitration and Compliance Decision

Visa bases its Arbitration or Compliance decision on all information available to it at the time of

reaching the decision, including, but not limited to, the provisions of the Visa Rules effective on the

Transaction Date and may, at its sole discretion, consider other factors, such as the objective of

ensuring fairness. The decision is delivered to both Members in writing and is final and not subject to

any challenge, except for any right of appeal permitted in the Visa Rules.

ID# 0027133 Edition: Apr 2024 | Last Updated: Apr 2018

1.11.2.3 Arbitration or Compliance Financial Liability

An Arbitration or Compliance decision may result in either:

l

One Member assigned full liability

l

Members sharing financial liability

The responsible Member is financially liable for both:

l

Transaction amount. For Arbitration cases, Visa will debit or credit the Members involved through

Visa Resolve Online (VROL), as appropriate. For Compliance cases, if funds are not automatically

transferred through VROL, the requesting Member may collect this amount from the opposing

Member through VisaNet within 60 calendar days of the Notification date of the decision by the

Arbitration and Compliance Committee.

l

Review fee

When the case is adjudicated, Visa will collect the review fees through the Visa Global Billing Platform

from the responsible Member.

Either Member in an Arbitration or a Compliance case may also be liable for a non-compliance

assessment for each technical violation of the applicable Visa Rules.

ID# 0003623 Edition: Apr 2024 | Last Updated: Apr 2021

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1.11.2.4 Arbitration or Compliance Appeal

The decision on any permitted appeal of an Arbitration or Compliance ruling is final and not subject

to any challenge.

ID# 0001440 Edition: Apr 2024 | Last Updated: Apr 2018

1.12 Fees and Non-Compliance Assessments

1.12.1 Fee Assessment by Visa

1.12.1.2 Fee Adjustments

If Visa confirms that a Member has either underpaid or overpaid its fees, Visa may process a fee

adjustment. The fee adjustment time period is limited to the 2 years before the date that either of the

following occurred:

l

The overpayment or underpayment was reported to Visa by the Member.

l

Visa discovered that an adjustment was due to the Member.

Visa reserves the right to collect an underpayment from a Member beyond the 2-year period.

Any collection or refund does not include interest.

ID# 0026403 Edition: Apr 2024 | Last Updated: Oct 2019

1.12.2 Non-Compliance Assessments

1.12.2.1 Visa Right to Impose Non-Compliance Assessments

The Visa Rules specify all of the following:

l

Enforcement mechanisms that Visa may use for violations of the Visa Charter Documents or Visa

Rules

l

The procedure for the allegation and investigation of violations

l

The rules and schedules for non-compliance assessments

A Member that does not comply with the Visa Charter Documents or Visa Rules will be subject to

non-compliance assessments. Depending on the violation, a non-compliance assessment may be

levied per Merchant, Merchant Outlet, Transaction, device, or Card, as defined by the impacted rule.

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These procedures and non-compliance assessments are in addition to enforcement rights available

to Visa under other provisions of the Visa Rules, or through other legal or administrative procedures.

Visa may assess, suspend, or waive non-compliance assessments, in whole or in part, to

accommodate unique or extenuating circumstances.

Visa may, at its sole discretion, deviate from the schedules specified in Section 1.12.2.2, General Non-

Compliance Assessment Schedules, and Section 1.12.2.8, Significant Violations Schedule. For example,

this may be by using a different non-compliance amount entirely, or by additionally levying a non-

compliance assessment from another schedule. In these instances, all of the following will be

considered:

l

Type of violation

l

Nature of the damage, including the amount incurred by Visa and/or its Members

l

Repetitive nature of the violation

l

Member history or prior conduct

l

Effect of the assessment upon the safety and soundness of the Visa system and the Member,

including the Member committing the violation

l

Any other criteria Visa deems appropriate

ID# 0007280 Edition: Apr 2024 | Last Updated: Oct 2019

1.12.2.2 General Non-Compliance Assessment Schedules

Visa may assess a non-compliance assessment for a violation of the Visa Rules. Unless addressed by a

specific non-compliance assessment program in Chapter 12, Fees and Non-Compliance Assessments,

a violation to the Visa Rules is subject to either:

l

For the rules contained in Chapter 1, Visa Core Rules, Table 1-12, General Schedule of Non-

Compliance Assessments – Tier 1

l

For all other Visa Rules, Table 1-13, General Schedule of Non-Compliance Assessments – Tier 2

Visa may, at its sole discretion, deviate from these schedules, for example by using a tier 2 non-

compliance assessment for a core rule, as specified in Section 1.12.2.1, Visa Right to Impose Non-

Compliance Assessments.

Where the violation is considered “significant,” non-compliance assessments in Section 1.12.2.8,

Significant Violations Schedule, may also be applied.

13 April 2024 Visa Public 151

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Event Visa Action/Non-Compliance Assessment

Notification issued for violation of a rule

Both:

l

Request for a remediation plan

l

Compliance Case Fee of USD 1,000 (assessed

immediately) for confirmed violations

Response date has passed or compliance deadline

for the agreed remediation plan has not been met

Level 1 non-compliance assessment of an additional

USD 25,000

30 calendar days have passed after either response

due or non-compliance continues

Level 2 non-compliance assessment of an additional

USD 50,000

60 calendar days have passed after either response

due or non-compliance continues

Level 3 non-compliance assessment of an additional

USD 75,000

90 calendar days have passed after either response

due or non-compliance continues

Level 4 non-compliance assessment of an additional

USD 100,000

120 calendar days have passed after either response

due or non-compliance continues

Level 5 non-compliance assessment of an additional

USD 125,000

150 calendar days have passed after either response

due or non-compliance continues

Level 6 non-compliance assessment of an additional

USD 150,000

180 calendar days (onwards) have passed after either

response due or non-compliance continues

Non-compliance assessment will increase by USD

25,000 each month until the rule violation is

corrected.

Non-compliance assessment amount is cumulative to include any previous amounts levied (for example: where 90

days have passed since response is due and a Level 4 non-compliance assessment is levied, the total amount

equates to USD 251,000 i.e., Level 1, Level 2, Level 3, Level 4, plus initial fee).

Table 1-12: General Schedule of Non-Compliance Assessments – Tier 1

Event Visa Action/Non-Compliance Assessment

Notification issued for violation of a rule

Both:

l

Request for a remediation plan

l

Compliance Case Fee of USD 1,000 (assessed

immediately) for confirmed violations

Table 1-13: General Schedule of Non-Compliance Assessments – Tier 2

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Event Visa Action/Non-Compliance Assessment

Response date has passed or compliance deadline

for the agreed remediation plan has not been met

Level 1 non-compliance assessment of an additional

USD 5,000

30 calendar days have passed after either response

due or non-compliance continues

Level 2 non-compliance assessment of an additional

USD 10,000

60 calendar days have passed after either response

due or non-compliance continues

Level 3 non-compliance assessment of an additional

USD 20,000

90 calendar days have passed after either response

due or non-compliance continues

Level 4 non-compliance assessment of an additional

USD 30,000

120 calendar days have passed after either response

due or non-compliance continues

Level 5 non-compliance assessment of an additional

USD 40,000

150 calendar days have passed after either response

due or non-compliance continues

Level 6 non-compliance assessment of an additional

USD 50,000

180 calendar days (onwards) have passed after either

response due or non-compliance continues

Non-compliance assessment will increase by USD

10,000 each month until the rule violation is

corrected.

Non-compliance assessment amount is cumulative to include any previous amounts levied (for example: where 90

days have passed since response is due and a Level 4 non-compliance assessment is levied, the total amount

equates to USD 66,000 i.e., Level 1, Level 2, Level 3, Level 4, plus initial fee).

Table 1-13: General Schedule of Non-Compliance Assessments – Tier 2 (continued)

ID# 0000482 Edition: Apr 2024 | Last Updated: Oct 2022

1.12.2.3 Determination of Violation of the Visa Rules

Determination of a violation of the Visa Charter Documents or Visa Rules may be made based on one

of the following:

l

The response from a Member to a Notification of investigation and other available information.

Visa will determine whether a violation of the Visa Charter Documents or Visa Rules has occurred.

l

A review by Visa of the evidence in relation to the identified violation, including any previous

compliance cases and/or audit findings.

l

The Member’s failure to respond to a Notification of investigation and to provide all information

requested.

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ID# 0001052 Edition: Apr 2024 | Last Updated: Oct 2019

1.12.2.4 Notification of Determination of Violation

Visa will notify a Member if it determines that a violation of the Visa Charter Documents orVisa Rules

has occurred, or if it determines that a violation is continuing to occur, and will specify a date by

which the Member must correct the violation. The Notification will advise the Member of all of the

following:

l

Reasons for such determination

l

Non-compliance assessment amount

l

Right to appeal the determination and/or the non-compliance assessments for the violation, as

specified in Section 1.12.2.9, Enforcement Appeals

Visa may require a Member to submit a compliance plan to resolve the violation.

ID# 0001053 Edition: Apr 2024 | Last Updated: Oct 2019

1.12.2.5 Non-Compliance Assessment Member Responsibility

A non-compliance assessment is imposed by Visa on a Member. A Member is responsible for paying

all non-compliance assessments, regardless of whether it absorbs them, passes them on, or increases

them in billing its customer (for example: Cardholder or Merchant). A Member must not represent to

its customer that Visa imposes any non-compliance assessment on its customer.

ID# 0001054 Edition: Apr 2024 | Last Updated: Oct 2019

1.12.2.8 Significant Violations Schedule

A Member found to have significantly violated the Visa Rules, adversely affecting the goodwill

associated with the Visa system, brand, products and services, operation of the Visa systems, or

operations of other Members, will be subject to a non-compliance assessment, as specified in Table

1-14, Non-Compliance Assessments for Significant Violations of the Visa Rules.

A violation is considered “significant” where the Member’s action, error or omission, intended or

unintended, known or unknown, presents immediate and/or substantial risks, economic or otherwise,

or the Member knew, or should have known, or its knowledge can be fairly implied, that its conduct

constituted a violation of the Visa Rules.

Visa may, at its sole discretion, deviate from these schedules, as specified in Section 1.12.2.1, Visa

Right to Impose Non-Compliance Assessments.

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Event Visa Action/Non-Compliance Assessment

Notification issued for a confirmed violation of a rule

Both:

l

Request for a remediation plan

l

USD 50,000 non-compliance assessment (payment

will be suspended until end date for correction)

Response date has passed or compliance deadline

for the agreed remediation plan has not been met

within a 12-month period

Non-compliance assessment, between USD 50,000

and USD 1,000,000 each month

Non-compliance assessments will continue to be

levied each month in increasing amounts, at Visa

discretion, until the rule violation is corrected.

Table 1-14: Non-Compliance Assessments for Significant Violations of the Visa Rules

ID# 0007288 Edition: Apr 2024 | Last Updated: Oct 2022

1.12.2.9 Enforcement Appeals

A Member may appeal a determination of a violation or non-compliance assessment to Visa where

the Member can provide new evidence not previously available that shows a violation did not occur,

as follows:

l

The Member’s appeal letter must be received by Visa within 30 calendar days of the Member’s

receipt of the Notification of the violation or non-compliance assessment.

l

The appealing Member must submit with the appeal any new or additional information or

supporting arguments necessary to substantiate its request for an appeal.

l

A fee of USD 5,000 will be assessed to the Member upon receipt of the appeal. This fee is

refundable if the appeal is upheld.

Visa will make its decision. All decisions are final and not subject to challenge.

In the LAC Region (Chile): This does not apply. For a Member in Chile, please refer to the Chile – Impartial Third Party Non-

Compliance Dispute Resolution.

ID# 0025975 Edition: Apr 2024 | Last Updated: Apr 2023

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Part 2:

Visa Product and Service Rules

2 Licensing and Numerics Management

2.1 Membership

2.1.1 Member Acquisitions and Mergers

2.1.1.1 Member Acquisition upon Regulatory Closure – US Region

In the US Region: In the event of a regulatory closure, the assuming organization must comply with

the requirements specified in Table 2-1, Regulatory Closure – Assuming Member Requirements.

Condition Required Action

Assuming organization is not a Member at the time of its

assumption of Visa programs and is eligible for

membership

l

Submit to Visa a Client Licensing Application

agreement within 10 calendar days after the

assuming organization’s assumption of the

Visa programs

l

Submit the appropriate membership

materials within the time specified by Visa

l

Meet any conditions of membership within

30 calendar days of the assuming

organization’s assumption of the Visa

programs

Assuming organization is not a Member at the time of its

assumption of Visa programs and does not submit the

required Client Licensing Application agreement within the

specified time

l

Cease all operations of the Visa programs

and use of the Visa-Owned Marks

l

Be liable for Liabilities asserted against or

incurred by Visa and its Members resulting

from unauthorized operations

Assuming organization is not a Member of Visa at the time

of its assumption of Visa programs and is not eligible for

the appropriate membership or if Visa declines its

application

Immediately cease both:

l

All use of the Visa-Owned Marks and all

other activities reserved for Members

l

Exercising the rights and privileges reserved

for Members

Assuming Member is not authorized to engage in one or

more of the assumed Visa programs

l

Submit the appropriate membership

materials within the time frame specified by

Table 2-1: Regulatory Closure – Assuming Member Requirements

Visa Product and Service Rules

2 Licensing and Numerics Management

Visa Core Rules and Visa Product and Service Rules

13 April 2024 Visa Public 157

Condition Required Action

Visa

l

Meet any conditions of membership within

30 calendar days of the Assuming Member’s

assumption of the Visa programs

Table 2-1: Regulatory Closure – Assuming Member Requirements (continued)

A Member that assumes the Visa programs of a failed Member immediately assumes full liability for

those Visa programs.

Upon verification from the applicable regulatory agency that a Member has assumed the Visa

programs of a failed Member, Visa will provide Notification listing the Visa programs for which Visa

understands the Assuming Member is liable.

The Assuming Member must submit to Visa, within the time specified in the Notification, written

confirmation of the Visa programs assumed.

ID# 0025752 Edition: Apr 2024 | Last Updated: Apr 2018

2.1.1.5 Termination of Membership – LAC Region (Brazil)

In the LAC Region (Brazil): A membership status may be terminated either:

l

As a result of the client’s substantial non-compliance with the business plan or description

presented to, or agreed with Visa do Brasil as a condition for its participation in the Visa payment

system

l

If the client has no reported sales volume for a minimum of one year

ID# 0029264 Edition: Apr 2024 | Last Updated: Apr 2018

2.1.2 Acquirer Licensing

2.1.2.1 Acquirer Licensing Requirements – LAC Region (Brazil)

In the LAC Region (Brazil): A Member must obtain a Merchant acquiring license before performing

any acquiring activities within its jurisdiction, even if the Member already holds a Principal-type or an

Associate-type license.

ID# 0027804 Edition: Apr 2024 | Last Updated: Oct 2014

Visa Product and Service Rules

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13 April 2024 Visa Public 158

2.1.2.2 Acquirer Licensing Requirements – LAC Region (Chile)

In the LAC Region (Chile): A Member is eligible to obtain a Merchant acquiring license with Visa

without being required to issue certain number of Cards or perform any issuing activities.

ID# 0030975 Edition: Apr 2024 | Last Updated: Apr 2023

2.1.4 Changes to Member Information or Status

2.1.4.2 Client Directory Data Submission

Effective through 21 February 2024 A Member that is assigned a BIN or Acquiring Identifier must

submit any new or revised information in the Visa Client Service Provider Directory module of the

Client Directory via Visa Online, as follows:

l

All directory data: Within 10 business days of a BIN or an Acquiring Identifier implementation

l

All directory updates: Within 10 business days of the effective date of the change

A Member that is assigned a BID must submit any new or updated contact information, including the

designation of a primary center manager contact, for its organization in the Client Contact Tool

module of the Client Directory, as follows:

l

Contact data: Within 10 business days of a BID implementation

l

Contact updates: Within 10 business days of the effective date of the change

Effective 22 February 2024 A Member that is assigned a BIN or Acquiring Identifier must submit any

new or revised service provider contact information, including the designation of a Directory

Manager for Member-to-Member communications, in the Client Service Provider Directory module

of the Client Directory via Visa Online, as follows:

l

All directory data: Within 10 business days of a BIN or an Acquiring Identifier implementation

l

All directory updates: Within 10 business days of the effective date of the change

A Member that is assigned a BID must submit any new or updated organizational contact

information, including the designation of a Primary Center Manager and a Senior Officer for Visa-

Member communications, in the My Organization’s Contacts module of the Client Directory via Visa

Online, as follows:

l

Contact data: Within 10 business days of a BID implementation

l

Contact updates: Within 10 business days of the effective date of the change

ID# 0007725 Edition: Apr 2024 | Last Updated: Apr 2024

Visa Product and Service Rules

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2.3 BIN and Acquiring Identifier License and Administration

2.3.1 BIN and Acquiring Identifier Use and License

2.3.1.1 Sponsor and Licensee Responsibilities for BINs and Acquiring Identifiers

A Principal-Type Member must license and use only its assigned BIN or Acquiring Identifier.

An Associate-Type Member must either:

l

License its own BIN or Acquiring Identifier. A BIN or an Acquiring Identifier licensed to an

Associate-Type Member on or after 22 July 2017 must have only one Sponsor.

l

Use a BIN or an Acquiring Identifier licensed to its sponsoring Principal-Type Member. The

Principal-Type Member must ensure that the BIN or Acquiring Identifier is unique to the Associate-

Type Member.

A Participant-Type Member does not have the right to license a BIN or an Acquiring Identifier, and

must use only a BIN or an Acquiring Identifier designated to it by its Sponsor in accordance with the

applicable Visa Charter Documents.

A BIN or an Acquiring Identifier may have only one BIN Licensee or Acquiring Identifier Licensee. A

Principal-Type Member is responsible

and liable for all activities associated with any BIN or

Acquiring Identifier that it licenses.

An Associate-Type Member is responsible and liable for all activities associated with any BIN or

Acquiring Identifier that it licenses directly. To the extent an Associate-Type Member is unable to

fulfill that responsibility, its Sponsor will be responsible and/or liable. A Sponsor is responsible and

liable for the accuracy of information provided to or received from Visa associated with any BIN or

Acquiring Identifier licensed directly to its Sponsored Member(s). The Sponsor’s liability is limited to

any BINs or Acquiring Identifiers associated with the sponsorship relationship between the Sponsor

and Sponsored Member.

If a BIN User or an Acquiring Identifier User is no longer authorized by the BIN Licensee or Acquiring

Identifier Licensee to use its BIN or Acquiring Identifier, the BIN User or Acquiring Identifier User must

discontinue use of the BIN or Acquiring Identifier.

A BIN Licensee or an Acquiring Identifier Licensee, or its designated Sponsored Member, must use a

BIN or an Acquiring Identifier Licensee only for a purpose approved by Visa, or Visa may block and

remove the BIN or Acquiring Identifier from VisaNet.

A BIN Licensee and an Acquiring Identifier Licensee must do all of the following:

l

Maintain the accuracy of the information relative to the BIN or Acquiring Identifier

l

Notify Visa of any inaccuracies on BIN or Acquiring Identifier licensing reports

Visa Product and Service Rules

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l

Notify Visa of, or request, any changes to the BIN or Acquiring Identifier

Responsibility for activities associated with a Token is assigned to the BIN Licensee for the Account

Number represented by the Token.

This does not apply to a BIN licensed to Visa for the provision of Tokens to Issuers.

In the US Region: A Sponsor may limit its liabilities for its Sponsored Members as specified in the Visa U.S.A. Inc. Certificate

of Incorporation and By-Laws, Section 2.05(b).

ID# 0001225 Edition: Apr 2024 | Last Updated: Apr 2023

2.3.1.2 VisaNet Processor BIN and Acquiring Identifier Use

A Member that designates a VisaNet Processor or Visa Scheme Processor to act on its behalf must

ensure that the VisaNet Processor or Visa Scheme Processor only:

l

Processes transactions on the Member’s BIN(s) or Acquiring Identifier(s) for activities for which the

BIN or Acquiring Identifier is licensed

l

Processes transactions on the Member’s BIN(s) or Acquiring Identifier(s) that are originated by the

BIN Licensee or Acquiring Identifier Licensee or the BIN Licensee’s or Acquiring Identifier Licensee’s

Sponsored Members approved to share the BIN or Acquiring Identifier

l

Clears or settles transactions on the Member’s BIN(s) or Acquiring Identifier(s) that are originated

by the BIN Licensee or Acquiring Identifier Licensee or the BIN Licensee’s or Acquiring Identifier

Licensee’s Sponsored Members approved to share the BIN or Acquiring Identifier

A VisaNet Processor or Visa Scheme Processor that is not also a Member must both:

l

Use its licensed BINs or Acquiring Identifiers exclusively for processing activities

l

Not use the BINs for issuing purposes or Acquiring Identifiers for acquiring purposes

ID# 0001227 Edition: Apr 2024 | Last Updated: Oct 2019

2.3.1.3 BIN and Acquiring Identifier Conversion to Newly Designated VisaNet

Processor or Visa Scheme Processor

If a Member converts a BIN or an Acquiring Identifier to a newly designated VisaNet Processor or Visa

Scheme Processor, the Member must require the new VisaNet Processor or Visa Scheme Processor to

complete any activity associated with the converted BIN or Acquiring Identifier.

This does not apply if the former VisaNet Processor or Visa Scheme Processor agrees to complete the

activity associated with the converted BIN or Acquiring Identifier.

ID# 0001269 Edition: Apr 2024 | Last Updated: Oct 2019

Visa Product and Service Rules

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2.3.1.4 BIN Currency – Europe Region

In the Europe Region: An Issuer must ensure that the denominated currency of the BIN on which a

Card is issued is the same as the Billing Currency.

ID# 0029568 Edition: Apr 2024 | Last Updated: Oct 2019

2.3.2 Administration of BINs, Acquiring Identifiers, and Numerics

2.3.2.1 Release of BINs and Acquiring Identifiers

A BIN Licensee or an Acquiring Identifier Licensee that no longer uses a BIN or an Acquiring Identifier

must release it to Visa.

When a BIN Licensee or an Acquiring Identifier Licensee releases a BIN or an Acquiring Identifier to

Visa, all of the following apply:

l

The BIN or Acquiring Identifier must have been inactive for at least 120 days before it is eligible to

be released from its current assignment. Visa will determine the date that the BIN or Acquiring

Identifier is eligible to be released from assignment based on either:

– For the BIN, the last date of approving authorizations

– For the Acquiring Identifier, the last date of acquiring activity

l

The BIN Licensee or Acquiring Identifier Licensee remains liable for any exception activity and fees

related to the BIN or Acquiring Identifier that were incurred prior to the date of its release from

assignment.

l

After an Acquiring Identifier is released from assignment to the Acquiring Identifier Licensee, no

exception activity (including, but not limited to, Dispute activity) is permitted related to that

Acquiring Identifier. The Issuer remains liable for any disputed Transaction involving the released

Acquiring Identifier.

l

After a BIN is released from assignment to the BIN Licensee, no exception activity (including, but

not limited to, Dispute activity) is permitted related to that BIN. The Acquirer remains liable for any

disputed Transaction involving the released BIN.

l

The BIN Licensee or Acquiring Identifier Licensee must notify all impacted parties that they must

delete the released BIN or Acquiring Identifier from their systems. Visa reserves the right to notify,

and provide relevant documentation to, impacted parties.

l

Voluntary termination of membership will not be effective until all BINs, Acquiring Identifiers, and

other Numeric IDs assigned to the Member are released from the Member’s assignment.

ID# 0001272 Edition: Apr 2024 | Last Updated: Apr 2022

Visa Product and Service Rules

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2.3.2.2 Private Label BIN Use

If a BIN Licensee or its designated Sponsored Member uses a BIN for a Private Label Card program,

the Issuer or its Sponsored Member must have a written acceptance agreement directly with each

Merchant that accepts its Private Label Cards.

ID# 0001253 Edition: Apr 2024 | Last Updated: Oct 2019

2.3.2.3 Use of BINs and Acquiring Identifiers for Non-Visa Programs

In the AP Region, Canada Region, CEMEARegion, Europe Region (non-EEAcountries only), LAC

Region, USRegion: A BIN or an Acquiring Identifier must not be used in connection with any non-

Visa program, payment network, or system, including any non-Visa program that is co-badged or co-

resident with a Visa Program, without written approval from Visa. If a Member receives Visa

permission to use a BIN or Acquiring Identifier for a non-Visa program (including, but not limited to,

a Private Label Card program), it must use the BIN or Acquiring Identifier only for the approved non-

Visa program.

In the Europe Region (EEAcountries only): A Member must notify Visa in advance if the Member

intends to use a BIN or Acquiring Identifier for non-Visa purposes. The Member must use the BIN or

Acquiring Identifier only as specified in the notification to Visa.

ID# 0001228 Edition: Apr 2024 | Last Updated: Oct 2019

2.3.2.4 Use of Numeric ID

A Member, VisaNet Processor, Visa Scheme Processor, or Third Party Agent that receives a Numeric

ID must ensure that the Numeric ID is used only for the activity approved by Visa. If the Numeric ID is

used for a purpose other than that approved by Visa, Visa may block and remove the Numeric ID

from VisaNet.

A licensee of a Numeric ID is responsible for all of the following:

l

Notifying Visa of any changes to the Numeric ID, including:

– Portfolio sale or transfer

– Merger or Acquisition

– Cessation of use

– Modification to service

– Change in user

l

All fees for the assignment and administration of the Numeric ID

Visa Product and Service Rules

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13 April 2024 Visa Public 163

l

Compliance with Section 2.3.2.1, Release of BINs and Acquiring Identifiers, for alternate routing

identifiers, as applicable

l

All activity occurring on the Numeric ID until it is fully deleted from VisaNet

ID# 0026469 Edition: Apr 2024 | Last Updated: Oct 2021

2.3.3 Account Range and BIN Use

2.3.3.1 Combining Card Programs on a Single BIN

An Issuer must not combine the following on a single BIN:

l

Credit Cards, DebitCards, and Prepaid Cards

l

Visa Consumer Cards and Visa Commercial Cards

In the LACRegion (Brazil): This does not apply for Visa Agro Cards.

ID# 0003144 Edition: Apr 2024 | Last Updated: Apr 2020

2.3.4 Use and Disclosure of BIN Information

2.3.4.1 Disclosure of BIN Attributes

BIN Attributes are proprietary and must not be disclosed to Merchants or any other party, except as

follows:

l

To a Member’s Agent,

to the extent necessary to conduct the operational activities required to

process Transactions

l

To the extent that disclosure is required for a Member, a Merchant, or a Member’s or Merchant’s

agent to comply with applicable laws or regulations

l

In the AP Region (Australia), Canada Region, Europe Region (European Economic Area [EEA]

countries and United Kingdom only), LAC Region (Chile), US Region, US Territory: To identify Visa

product types at the POS, if a Merchant implements Limited Acceptance. An Acquirer must provide

BIN Attributes to any Merchant requesting them for this purpose.

l

For any other reason, only if registered to share BIN Attributes and with prior written approval from

Visa

If a Member or its agent provides BINAttributes to a Merchant or any other party

for permitted

purposes, it must do all of the following:

Visa Product and Service Rules

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l

Include terms expressly restricting permission for BIN Attributes to be used only for the permitted

purpose in its Merchant Agreement or Agent contract, as applicable

l

Provide updated BIN Attributes to the Merchant or other party as soon as reasonably possible after

receipt

l

Ensure that the Merchant or other party uses the updated BIN Attributes provided to it by the

Member

An entity that receives BINAttributes must both:

l

Not disclose BIN Attributes to any Merchant or other party without prior written approval from

Visa and treats BIN Attributes as proprietary and confidential information belonging to Visa and

with the same degree of care as information labeled “Visa Confidential”

l

Use BIN Attributes only as permitted in writing by Visa

In the Europe Region: An Acquirer must not share BINAttributes for Non-Reloadable Prepaid Cards with Merchants or

Third Party Agents, as specified in Section 5.8.1.16, Acquirer Use of Non-Reloadable Prepaid BIN and Account Range Data –

Europe Region.

ID# 0028285 Edition: Apr 2024 | Last Updated: Apr 2023

2.4 Marks License

2.4.1 Marks License Grant

2.4.1.1 License Grant for Visa-Owned Marks

Visa grants to each Member a non-exclusive, non-transferable license

to use each of the Visa-Owned

Marks, including Interlink and Plus, only in conjunction with the applicable Visa Programs that are

licensed to the Member.

In the Europe Region: And royalty-free

ID# 0008906 Edition: Apr 2024 | Last Updated: Apr 2018

2.4.1.2 License for Plus Card Acceptance – US Region

In the US Region: Visa grants a Member that is required to display the Plus Symbol on its ATM a

license to use each of the Plus Program Marks for the purpose of accepting Plus Cards at ATMs,

subject to the Plus System, Inc. Bylaws and the Plus Core Rules and Plus Product and Service Rules. A

Member granted such a license acknowledges that Visa owns the Plus Program Marks.

ID# 0007436 Edition: Apr 2024 | Last Updated: Oct 2014

Visa Product and Service Rules

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2.5 Visa US Regulation II Certification Program

2.5.1 Visa US Regulation II Certification Program – US Region and US Territories

2.5.1.1 Visa US Regulation II Certification Program Requirements – US Region and

US Territories

In the US Region or a US Territory: A BIN Licensee that is subject to US Federal Reserve Board

Regulation II must comply with the Visa US Regulation II Certification Program requirements.

The BIN Licensee is solely responsible for ensuring that all consumer debit, commercial debit, and

prepaid programs conducted under its BINs comply with applicable laws or regulations, including US

Federal Reserve Board Regulation II.

The BIN Licensee or proposed BIN Licensee must submit a Dodd-Frank Act Certification Addendum

and Fraud Prevention Adjustment Addendum, as applicable, when requesting, modifying, or

transferring a consumer debit, commercial debit, or prepaid BIN.

An Issuer that is subject to US Federal Reserve Board Regulation II and that receives certification

materials from Visa is required to respond within the published timeframes.

Any Issuer of consumer debit, commercial debit, or prepaid programs that is subject to the US

Federal Reserve Board Regulation II and that receives fraud-prevention standards notification

materials from Visa is required to respond within the published timeframes.

An Issuer subject to US Federal Reserve Board Regulation II must submit the notification materials, as

applicable, if the Issuer’s compliance with the fraud prevention standards has changed.

ID# 0027000 Edition: Apr 2024 | Last Updated: Oct 2014

2.6 Product-Specific BIN Requirements

2.6.1 Visa Consumer Products

2.6.1.1 Visa Health Savings Account (HSA) BIN Requirements – US Region

In the US Region: An Issuer must use a unique consumer Prepaid Card BIN designated for Health

Savings Account (HSA)programs to issue HSA Cards.

The Issuer may use an existing Debit Card BINif the HSAprogram complies with all of the following:

l

Does not use Third Party Agents

l

Has no restrictions on MCC or ATM access

Visa Product and Service Rules

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l

Will have less than 10,000 accounts issued

ID# 0025544 Edition: Apr 2024 | Last Updated: Apr 2020

2.7 Client Portfolio Management Self-Service Tools

2.7.1 Client Portfolio Management Self-Service Tools Requirements

2.7.1.1 Client Portfolio Management Self-Service Tools Information

A Member, VisaNet Processor, or designated Agent must not disclose any information from the

Client Portfolio Management Self-Service Tools, or any other information associated with the tools,

to any other parties unless it is permitted in the Visa Rules or otherwise authorized in writing by Visa.

Information from and associated with the Client Portfolio Management Self-Service Tools is the

property of Visa and is for the sole use of Visa Members and their registered third-party service

providers in support of the Members’ Visa programs.

ID# 0026518 Edition: Apr 2024 | Last Updated: Oct 2014

2.7.1.2 Use of Client Portfolio Management Self-Service Tools

A Member is responsible for all of the following for a Member, VisaNet Processor, or designated

Agent that has been granted permission to access the Client Portfolio Management Self-Service

Tools on the Member’s behalf:

l

The Member’s use and its VisaNet Processor’s or designated Agent’s use in accordance with the

Visa Rules

l

Monitoring its users’ access to ensure that only authorized users are granted access to the service

l

Ensuring that only authorized officers of the institution approve membership requests

l

The accuracy of all information and any changes made to the information by the Member and its

authorized users

l

Ensuring that changes to the Member’s information are accompanied by an Electronic Signature

ID# 0026519 Edition: Apr 2024 | Last Updated: Oct 2014

Visa Product and Service Rules

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2.8 Non-Visa BINs and Acquiring Identifiers

2.8.1 Non-Visa-Assigned BINs and Acquiring Identifiers

2.8.1.1 Management of Non-Visa-Assigned BINs and Acquiring Identifiers

A BIN Licensee or an Acquiring Identifier Licensee of a non-Visa-assigned BIN or Acquiring Identifier

that is used for a Visa service must both:

l

Maintain the accuracy of the information relative to the BIN or Acquiring Identifier

l

Notify Visa of any changes to the BIN or Acquiring Identifier, including any release of the BIN or

Acquiring Identifier from its approved use

A BIN Licensee of a non-Visa-assigned BIN and an Acquiring Identifier Licensee of a non-Visa-

assigned Acquiring Identifier must comply with Section 2.3, BIN and Acquiring Identifier License and

Administration.

ID# 0026514 Edition: Apr 2024 | Last Updated: Oct 2019

2.9 EU Passporting

2.9.1 EU Passporting – Europe Region

2.9.1.1 Host Country Activity – European Economic Area

Where a Member located in the European Economic Area (EEA) chooses to operate outside of its

Home Country and provide services in one or more Host Countries across the EEA, it must provide to

Visa written confirmation that that Member has all necessary regulatory permissions for the provision

of those services.

Where a Member operates in one or more Host Countries, it must do all of the following:

l

For issuing activity, distinguish between Cards issued in a Home Country and a Host Country by

allocating and using one or more unique BIN(s), or Account Ranges within a BIN, to identify each

country in which issuance takes place

l

Settle in a Visa-approved Settlement Currency for any given host country

l

Participate in the respective National Net Settlement Service (NNSS), where applicable

An Acquirer that has passported its license into one or more Host Countries may allocate the same

Acquiring Identifier for acquiring activity in its Home Country and Host Countries.

Visa Product and Service Rules

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This does not apply to Issuers that offer the Visa Commercial Choice Travel Product or, the Visa Commercial Choice Omni

Product.

ID# 0029790 Edition: Apr 2024 | Last Updated: Oct 2023

Visa Product and Service Rules

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3 Use of Marks

3.1 Marks License

3.1.1 Affinity/Co-Branded Card Programs

3.1.1.1 Affinity/Co-Branded Card Marks Prohibitions

An Affinity/Co-Branded Card must not bear:

l

A Mark or name similar to an existing Visa program or service

l

A Mark or image that is political, provocative, or socially offensive, as determined by Visa, that

would result in non-acceptance of the Card or other issues at the Point-of-Transaction

l

A Functional Type or Mark that facilitates payment for goods or services

ID# 0027368 Edition: Apr 2024 | Last Updated: Apr 2017

3.1.1.2 Affinity/Co-Brand Program Positioning and Advertising

An Affinity/Co-Brand Card Issuer must comply with all of the following:

l

Position the Card as a Visa Card

l

Refer to the Affinity/Co-Brand Card as a “Visa Card” in all Collateral Material

l

Ensure that all Collateral Material and Cards clearly state that the Member is the Issuer of the Card

l

Ensure that the Visa Brand Name or Visa Brand Mark is prominently featured, or is at least the same

size as, Marks owned by the Issuer and the Affinity/Co-Brand partner on all Collateral Material

l

Not position the Card as adding superior acceptability at the Point-of-Transaction

l

Not state or imply that the Affinity/Co-Brand Card is accepted only by a particular Merchant or

class of Merchants

l

Portray itself as the owner of the Affinity/Co-Brand program

l

Ensure that the Affinity/Co-Brand partner does not state or imply that the Affinity/Co-Branded

Card is owned or issued by the Affinity/Co-Brand partner

Visa may prohibit the use of any materials that denigrate the Visa brand.

In the USRegion: A limited exception is allowed for Campus Cards to facilitate closed-loop proprietary college or

university system transactions and permit the use of campus identification/access applications. A Campus Card must still

Visa Product and Service Rules

3 Use of Marks

Visa Core Rules and Visa Product and Service Rules

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be positioned as a Visa Card, but with the additional functionality noted here.

This requirement does not apply to discounts, offers, or in-kind incentives offered by the Merchant.

ID# 0027369 Edition: Apr 2024 | Last Updated: Oct 2015

3.1.2 Marks License Grant

3.1.2.1 Registration/Ownership Denotation

A Member desiring to use a denotation or legend of registration or ownership with any proprietary

Mark or Trade Name used in association with, or on the same piece as, any Visa-Owned Mark may do

so only if proper trademark attribution is given to the Visa-Owned Mark as follows:

[Visa-Owned Mark] is a trademark owned by Visa International Service Association and used under

license.

ID# 0007431 Edition: Apr 2024 | Last Updated: Oct 2014

3.1.3 Sponsorships and Partnerships, Including the Olympics

3.1.3.1 Marketing Partnership/Sponsorship Agreement

A partnership or sponsorship agreement governs in the case of ambiguity, conflict, or inconsistency

between that agreement and the Visa Rules or any contract, sublicense, agreement, or other

arrangements between Visa and a Member, a Merchant, or an affiliate.

ID# 0001128 Edition: Apr 2024 | Last Updated: Oct 2014

3.1.3.2 Sponsorship/Member Use of Marks

A Member’s enjoyment of pass-through rights to use the Marks and promotional materials of any

organization with which Visa has signed a global sponsorship agreement is always subject to the

prior written approval of Visa and the partner or sponsor organization.

A Member must not use the Visa-Owned Marks with the Marks of any of the following, or of its

subsidiaries or affiliates, in any sponsorship activity:

l

American Express Company

l

Discover Financial Services

l

Mastercard Worldwide (including Maestro)

l

Any other entity that Visa deems competitive

Visa Product and Service Rules

3 Use of Marks

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Upon Notification from Visa, a Member must correct any improper use of the partnership or

Sponsorship Marks.

ID# 0007450 Edition: Apr 2024 | Last Updated: Oct 2014

3.1.3.3 Member as Sponsor

A Member that participates in any sponsorship activity of which Visa is the sponsor must clearly

convey in all of its communications and displays that only Visa, not the Member, is the sponsor.

A Member that participates in any sponsorship activity of which the Member is granted sponsorship

rights by Visa must clearly convey in all of its communications and displays that only the Member, not

Visa, is the sponsor. The Member must not state or imply that it owns any of the Visa-Owned Marks.

ID# 0007405 Edition: Apr 2024 | Last Updated: Oct 2014

3.2 Use of Marks

3.2.1 Use of Marks by Members and Merchants

3.2.1.1 Use of Visa-Owned Marks

A Member or Merchant that uses a Visa-Owned Mark must comply with all of the following:

l

Not use the Visa-Owned Mark in a way that implies endorsement of any other product or service

l

Not use, adopt, register, or attempt to register a company name, product name, or Mark that is

confusingly similar to any Visa product or service name or any Visa-Owned Mark

l

Ensure that any material on which the Visa-Owned Mark appears does not infringe, dilute, or

denigrate any of the Visa-Owned Marks or Visa products or services or impair the reputation or

goodwill of Visa or the goodwill associated with the Marks

l

Not refer to Visa in stating eligibility for its products, services, or membership

In addition, a Member or Click to Pay Merchant that uses the Click to Pay Mark must not use it as a

substitute for the Visa-Owned Mark to indicate payment acceptance.

An Acquirer must ensure that a Merchant using any Visa-Owned Mark complies with the Visa Product

Brand Standards.

ID# 0026991 Edition: Apr 2024 | Last Updated: Oct 2020

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3.2.1.2 V PAY Brand Mark Use

The V PAY Brand Mark is a Visa-Owned Mark. Implementation of the V PAY Product and use of the V

PAY Brand Mark outside the Europe Regionis subject to approval and trademark availability. The V

PAY Brand Mark must appear exactly as specified in the Visa Product Brand Standards.

ID# 0003585 Edition: Apr 2024 | Last Updated: Oct 2016

3.2.1.3 Use of the Visa Brand Name and the Visa Brand Mark on Merchant Websites

and Applications

A Merchant website and/or application must display the Visa Brand Mark in full color, as specified in

the Visa Product Brand Standards.

The Visa Brand Name must be used to indicate acceptance only when a visual representation of the

Visa Brand Mark is not possible on the website or application.

A Merchant that displays the Visa Secure badge on its website or application must comply with the

Visa Product Brand Standards.

A Merchant that retains Stored Credentials must display on the payment screen and all screens that

show Payment Credential information both:

l

The last 4 digits of the Payment Credential

l

The Visa Brand Mark or the name “Visa” in text immediately next to a Visapayment option

ID# 0008671 Edition: Apr 2024 | Last Updated: Apr 2020

3.2.2 Use of Marks in Promotions, Advertisements, and Solicitations

3.2.2.1 Card and Product Positioning

An Issuer must refer to its Visa Card as a “Visa Card” in all communications regarding its program,

including solicitations, advertising, promotions, and other Collateral Material.

ID# 0003211 Edition: Apr 2024 | Last Updated: Oct 2014

3.2.2.2 Limited Acceptance Merchant Signage

A Limited Acceptance Merchant may use the signage associated with the Limited Acceptance

category it has selected, on promotional, printed, or broadcast materials only to indicate the types of

Cards it accepts for payment.

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ID# 0030376 Edition: Apr 2024 | Last Updated: Apr 2018

3.2.2.3 Non-Member Marks on Collateral Material – Canada Region

In the Canada Region: Except as permitted by Visa, a name, Trade Name, or Mark of a non-Member

must not be used on Collateral Material bearing the Visa Program Marks that is used for soliciting

applications or communicating with Cardholders.

This does not apply to the Marks of the Interac Association.

ID# 0006236 Edition: Apr 2024 | Last Updated: Oct 2014

3.2.2.4 Advertising Materials – Canada Region

In the Canada Region: Point-of-Transaction advertising and promotional materials (except credit card

application forms) must not indicate that the Merchant has been signed by, or represents the

interests of, a particular Member.

ID# 0006233 Edition: Apr 2024 | Last Updated: Oct 2014

3.2.3 Use of Marks on Cards

3.2.3.1 Hierarchy of Visa-Owned Marks on Cards

If more than one Visa-Owned Mark is present on a Card, an Issuer must designate a Primary Mark,

complying with the following hierarchy of Marks:

l

Visa Brand Mark

l

Visa Brand Mark with the Electron Identifier

l

Plus Symbol

All other Visa-Owned Marks must both:

l

Appear together

l

Not be separated by any non-Visa-Owned Marks

ID# 0008218 Edition: Apr 2024 | Last Updated: Oct 2016

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3.2.3.2 Prohibition of Non-Visa Payment Functionality on Visa Cards

A Member must not use a Functional Type or any other Mark on a Visa Card to facilitate payment for

goods or services. This includes any mixture of alphanumeric characters that denotes participation in

a program or benefit (for example: a loyalty or rewards program, a membership identification

number).

In the Europe Region: A Member must provide Visa with details of the exact functionality of the

Functional Type or functional graphic.

ID# 0029511 Edition: Apr 2024 | Last Updated: Apr 2017

3.2.3.3 Use of Other Marks – US Region and US Territories

In the US Region or a US Territory: A Member must comply with the Visa Product Brand Standards

and Table 3-1, Specific Marks Requirements – US Region and US Territories.

Card Type Marks Allowed?

Visa Card that primarily

accesses a line of credit

Interlink Program Marks No

US Covered Visa Debit Card Marks of a non-Visa general purpose

payment card network

Yes

US Covered Visa Debit Card Non-Visa-owned brand Marks Yes, to indicate acceptance at

Merchant Outlets solely within the

country of Card issuance. The Marks

must be equally prominent with or

less prominent than the Visa Brand

Mark.

US Covered Visa Debit Card Marks that are specifically related to

bank card programs and/or services

related to those programs

Yes

US Covered Visa Debit Card Marks of the American Express

Company, Discover Financial

Services, Mastercard Worldwide

(including Maestro) or the

subsidiaries or affiliates of these

entities deemed competitive by Visa

Yes

Table 3-1: Specific Marks Requirements – US Region and US Territories

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Card Type Marks Allowed?

US Covered Visa Debit Card

bearing the Plus Symbol

Marks of entities deemed

competitive by Visa

Yes

Card not defined as US

Covered Visa Debit Card

Marks that are specifically related to

bank card programs and/or services

related to those programs, unless

the Visa Rules expressly allow them

Table 3-1: Specific Marks Requirements – US Region and US Territories (continued)

ID# 0026531 Edition: Apr 2024 | Last Updated: Oct 2016

3.3 Other Card Requirements

3.3.1 Magnetic-Stripe Encoding

3.3.1.1 Magnetic-Stripe Encoding Requirements

The Magnetic Stripe on a Card must be encoded on both track 1 and 2.

In the LAC Region: This does not apply for Magnetic-Stripe personalization of embossed instant-

issue Cards.

ID# 0003602 Edition: Apr 2024 | Last Updated: Apr 2020

3.3.1.3 Magnetic-Stripe Encoding – Europe Region (Germany)

In the Europe Region (Germany): An Issuer must encode the Magnetic-Stripe on all Cards using 2750

oersted high coercivity encoding technology, as specified in the industry standards adopted by Visa-

approved manufacturers and Magnetic-Stripe encoding equipment providers.

ID# 0030043 Edition: Apr 2024 | Last Updated: Oct 2017

Visa Product and Service Rules

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3.4 Point-of-Transaction Display of Marks

3.4.1 Display of Marks at the Point of Sale

3.4.1.1 Improper Display of Affinity/Co-Brand Partner Trade Name or Mark

Upon Notification from Visa, a Merchant must correct any display of an Affinity/Co-Brand

partner’sTrade Name or Mark at a Merchant Outlet if the display adversely affects the Visa brand.

ID# 0027375 Edition: Apr 2024 | Last Updated: Oct 2015

3.4.1.2 Display and Use of Visa-Owned Marks at the Point of Payment Choice and

the Point of Sale

A Merchant must display and use the Visa-Owned Marks at the POS (physical location, Acceptance

Device, website, application) as specified in the Visa Product Brand Standards.

The Visa-Owned Marks must not appear less prominently than any other payment Marks.

In the US Region or a US Territory: This does not apply.

ID# 0030002 Edition: Apr 2024 | Last Updated: Apr 2022

Visa Product and Service Rules

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4 Issuance

4.1 General Issuance

4.1.1 General Issuer Requirements

4.1.1.1 Card and Token Positioning

An Issuer must not:

l

Position any Visa Card as something other than a Visa Card. A Card that facilitates additional

functionality or provides access to applications or services must still be positioned as a Visa Card

l

Position a Visa Business Card, Visa Corporate Card, or Visa Purchasing Card as something other

than a Card for the payment of business expenditures

l

Position its Trade Name or Mark as adding superior acceptance of the Card at the Point-of-

Transaction

An Issuer must ensure that a Token both:

l

Maintains the same product characteristics of the Card represented by that Token

l

Is presented to the Cardholder as a Visa product or service

If an Issuer provisions a non-Visa payment credential

for a co-resident network on a Card, it must

also both:

l

Provision a Visa Token before or at the same time as the non-Visa payment credential

l

Ensure that the applicable Token Requestor has received Visa Token Service approval of its digital

wallet or other payment solution

For example, a Card with added functionality such as Cardholder identification, participation in a loyalty program, or

membership in an organization or, in the US Region, a Campus Card that facilitates closed-loop proprietary college or

university transactions, must still be positioned as a Visa Card.

This does not apply to discounts, promotional offers, or in-kind incentives offered by the Merchant.

A token or other payment credential generated for a non-Visa general purpose payment card network that is co-resident

on a Card and uses a BIN to identify the payment card within that co-resident payment card network.

ID# 0006153 Edition: Apr 2024 | Last Updated: Apr 2020

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4.1.1.2 Delivery of Visa Premium Product Value to Cardholders – AP, Canada,

CEMEA, Europe, and LAC Regions

In the AP Region, Canada Region, CEMEA Region, Europe Region, LAC Region: An Issuer must

structure its Visa premium products to deliver product value based on features, performance

standards, and spending limits, such that:

l

A Visa Infinite Card and a Visa Signature Card delivers higher value than a Visa Platinum Card.

l

A Visa Platinum Card delivers equal or higher value than a Visa Gold/Premier Card.

l

A Visa Gold/Premier Card delivers higher value than a Visa Classic Card.

l

A Visa Gold Business Card delivers higher value than a Visa Business Card.

l

In the AP Region (Australia): A Visa Rewards Business Card delivers equal or higher value than a

Visa Business Card.

l

In the Canada Region: A Visa Platinum Prepaid Card delivers higher value than a Prepaid Card

l

In the Europe Region: A Visa Infinite Business Card delivers higher value than a Visa Platinum

Business Card.

l

In the Europe Region: A Visa Platinum Business Card delivers higher value than a Visa Business

Card or a Visa Platinum Card.

ID# 0008225 Edition: Apr 2024 | Last Updated: Apr 2022

4.1.1.3 Non-Standard Card Prohibitions

An Issuer of a non-standard Card must not:

l

Permit exclusive or preferential acceptance by a Merchant

l

Link the non-standard Card to a Virtual Account

In the Europe Region: A non-standard Card issued within the European Economic Area (EEA) or

United Kingdom must identify the correct Product Category on the Chip.

This does not apply to discounts, promotional offers, or in-kind incentives offered by the Merchant.

ID# 0003242 Edition: Apr 2024 | Last Updated: Apr 2023

4.1.1.4 Issuer Requirements for a Credit Authorization on Returned Purchases

An Issuer must comply with the following Credit Authorization requirements on returned purchases:

Visa Product and Service Rules

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l

Be prepared to receive and respond to an Authorization Request for a Credit Transaction

l

Process the Credit Transaction so that Cardholder-facing applications are updated with the

pending credit information in the same timeframe as a purchase Transaction

l

Maintain the minimum approval rate for Credit Transactions at 99%

This is optional for Non-Reloadable Prepaid Cards.

ID# 0029557 Edition: Apr 2024 | Last Updated: Apr 2022

4.1.1.5 Issuance of Domestic Use-Only Cards

An Issuer must not issue a consumer Credit Card or a consumer Debit Card that is restricted to use

only in the country of issuance. With prior Visa approval, an Issuer may issue a Prepaid Card that is

restricted to use only in the country of issuance.

In the LAC Region (Brazil): An Issuer must not issue a Visa Commercial Card or Visa Electron Card that

is restricted to use only in the country of issuance.

In the LAC Region (Mexico): An Issuer must not issue a Visa Electron Card that is restricted to use only

in the country of issuance.

ID# 0029327 Edition: Apr 2024 | Last Updated: Oct 2022

4.1.1.6 Mailing of Individual Personalized Visa Products

An Issuer must do all of the following:

l

Proof and prepare Visa Products for mailing under dual control in a high-security area separate

from other operations

l

Prevent unauthorized entry into the area

l

Ensure that Cardholder addresses, including postal codes, are complete and correct

l

Maintain stuffed, sealed, and stamped envelopes in a vault under dual control until mailing

l

Record the exact date, time, and place of mailing for each Visa Product

l

Report any Visa Products lost in the mail to Visa, the postal authorities, and the appropriate carrier

ID# 0025519 Edition: Apr 2024 | Last Updated: Apr 2020

4.1.1.7 Card-to-Card Back-to-Back Funding – Issuer Prohibition

Card Fronting is not permitted. An Issuer must not allow a purchase to occur with Back-to-Back

Funding to its Payment Credential from another Payment Credential or card.

Visa Product and Service Rules

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In the Europe Region: This does not apply to Cards issued in the European Economic Area (EEA) or

United Kingdom. An Issuer located in the EEA or United Kingdom, approved by Visa to implement a

Back-to-Back Funding program, must comply with all requirements as specified in Back-to-Back

Funding for the European Economic Area and United Kingdom.

ID# 0030709 Edition: Apr 2024 | Last Updated: Apr 2023

4.1.1.9 General Member Card Plan – Canada Region

In the Canada Region: Each Visa Canada General Member must operate its own Card plan that

conforms to all of the following minimum standards:

l

Each Member must issue Cards in its own name and own the receivables arising from the use of

such Cards. Securitization does not impact ownership for the purpose of the Visa Rules.

l

Cards issued by each Member will entitle Cardholders to make purchases of goods and services

and to obtain Cash Disbursements.

l

Subject to appropriate Authorization, each Member will honor Cards issued by other Members for

Cash Disbursements.

l

Subject to appropriate Authorization, each General Member will cause its Merchants to honor

Cards issued by other such Members for the purchase of goods and services.

ID# 0004092 Edition: Apr 2024 | Last Updated: Oct 2014

4.1.1.10 Product Category Identification Requirements – Europe Region

In the Europe Region: An Issuer must identify a newly issued or reissued Card that is issued within the

European Economic Area (EEA) or United Kingdom by the correct Product Category, as specified in

the Visa Product Brand Standards and Table 4-1, Product Category Identification – Europe Region.

An Issuer may identify a Card issued outside the EEA or United Kingdom by the correct Product

Category, as specified in the Visa Product Brand Standards and Table 4-1, Product Category

Identification – Europe Region.

Product Category Debit Credit (including Deferred

Debit)

Prepaid

Interchange Fee