Visa International Operating Regulations

Visa International Operating Regulations
Effective 13 October 2012, updates Chargeback Reason Code 53, "Not as Described or Defective
Merchandise," to make it easier for Issuers to charge back Transactions involving counterfeit
merchandise, and to enable Issuers to charge back Transactions where the Merchant misrepresents
the terms of sale to a Cardholder.
Revision of Visa Easy Payment Service Country Level Transaction Limits in Hong Kong, India,
Macau, Philippines, Singapore and Vietnam
Effective 13 October 2012, increases the Visa Easy Payment Service (VEPS) Transaction amount
limits for Hong Kong, India, Macau, Philippines, Singapore and Vietnam in the AP Region.
Modifications to Compliance Filing Time Limit for Fraudulent Credit Transactions
Effective 13 October 2012, shortens the Compliance filing time limit for violations involving
fraudulent credit Transactions to no more than 90 days from the Processing Date of either the credit
reversal or the fraudulent sale/ ATM withdrawal Transaction.
Expansion of Fast Funds to All Original Credit Transaction Business Application Indicators
Effective 14 June 2012, expands the current Fast Funds processing requirement for Visa Money
Transfers to all types of Original Credit Transactions, including Visa Money Transfer Original Credit
Transactions.
Verified by Visa Liability Shift Expansion to include Visa Commercial Cards
Effective 15 April 2013, the liability shift under Verified by Visa will be extended to include
all Domestic Transactions and International Transactions completed with a Commercial Card. The
liability shift excludes Transactions involving an Issuer or Merchant in the U.S. Region.
Implementation of Account Level Processing (ALP) in the AP Region and CEMEA Region
Effective 12 October 2012, implements new Operating Regulations to support Account Level
Processing in the AP Region and CEMEA Region.
PIN Security Rule Revalidation
Effective 13 September 2012, updates PIN security-related Operating Regulation language to reflect
existing requirements, documentation, and processes.
Verification of Original Credit Transactions (OCT) Posting through Visa Resolve Online (VROL)
Effective 20 April 2013, requires the Originating Member to use Visa Resolve Online to inquire into
the posting of an Original Credit Transaction to the Visa Cardholder's account.
Affinity and Co-Brand Regulation Alignment
Effective 1 April 2013, streamlines and globalizes rules and procedures associated with Cards
bearing the Marks of non- Members ( Affinity/Co-Branded Cards).
Global Brand Protection Program Penalties Restructure
2 VISA PUBLIC 15 October 2012
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