Payments News

Mixed reviews for Visa's new chargeback process

Dec 06, 2018

It might be too early to determine the full impact of the new Visa Claims Resolution process designed to streamline and limit chargebacks, but 52 percent of respondents surveyed claimed no decrease in chargebacks since VCR, and most of the 33 percent reporting a decline cited a decrease of less than 5 percent.

Most alarming, possibly, is that nearly 30 percent of merchants also reported an increase in chargebacks and another third had not even heard of the program, according to a VCR initial impact study by chargebacks management firm Chargebacks 911. A third of merchants say they experienced a decrease in transaction disputes shortly after the program was implemented.

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