Menu

Visa Claims Resolution (VCR) Initiative, April 2018

 

 

November 1 – Important Update

As we announced earlier this year Visa will be implementing a new chargeback process known as Visa Claims Resolution (VCR). Visa disputes will follow the new process starting April 14, 2018. Under the initiative, Visa aims to streamline the processing of disputes, expediting resolutions and eliminating invalid disputes.

Vantiv has been aggressively working towards readiness for this implementation date by:

  • Enhancing systems to accommodate the new allocation and collaboration workflows
  • Developing new processes for the Questionnaire that must be completed when responding to a dispute
  • Updating chargeback activity files to support new reason codes and action codes.

To facilitate these changes and ensure you make the necessary procedural changes to your dispute resolution process, we will be engaging with you monthly and we will be offering many training opportunities.

Here is what you can expect:

November 2017 Communication & Training: CHARTS activity file changes
December 2017 Communication: When and what are the VCR changes
January 2018 Communication: Update on what to expect for VCR
January 2018 Training: Visa Claims Resolution (VCR) Questionnaire
January 2018 Communication: CHARTS activity file final specs & sample file
February 2018 Communication & Training: Visa Claims Resolution (VCR) update on what to expect 
March 2018 Communication & Training: VCR is fast approaching
Early April 2018 Communication: Visa Claims Resolution (VCR) going live
April 14, 2018 Deploy VCR in Production to Visa Issuers
Late April 2018 Communication & Training: Visa Claims Resolution (VCR) is live 

Get advantages for your business now