Effective 18 April 2020, Visa is updating acceptance, disclosure and dispute policies for transactions at merchants that offer free trials or introductory promotions as part of an ongoing subscription service.
Starting in April 2020, Visa will update its rules and requirements for free trials. The changes apply equally to merchants selling either physical or digital goods and services if they offer free trials or introductory offers that roll into an ongoing subscription/recurring agreement. This change is following Mastercard’s revised standards for high-risk negative option billing merchants that were announced in January last year. There are already existing rules in place, including express, informed consent from customers after required disclosures and a simple cancellation mechanism. Mastercard: Update effective since April 2019 Mastercard has already updated its requirements regarding high-risk negative option…
With the number of disputes arising, and processing time and costs increasing, Visa has introduced the more efficient way of chargeback processing, meaning the shortening and simplifying the dispute-resolution process, with historic chargeback reason codes being consolidated under four groups only.
TrustPay brings a new version of payment gateway according to up-to-date trends and technologies. The payment gateway now provides all merchants with more comfort regarding the implementation, payment overview, and transaction processing while offering their customers better, faster, and more secure payments online.