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|