In response to an increase in the number of disputes and the time and cost of processing, Visa created a method to help merchants deal with credit card fraud: the Visa Claims Resolution (VCR) Initiative. According to Visa: “The VCR Initiative seeks to simplify dispute processing by migrating from a litigation-based model to a liability assignment model. Visa will leverage existing data and use the Visa global dispute platform, Visa Resolve Online (VROL), to simplify the processing of disputed transactions.” Merchants that accept Visa should note changes in the codes for chargeback reasons.
Barbara Weltman
Big Ideas for Small Business, Inc.
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