Visa to Become More User Friendly after Eliminating Half of its Operating Rules.

On Oct. 1st we will be eliminating close to half of our operating rules. This includes reducing the complexity of our dispute-resolution processes.


– Charles W. Schraf – CEO, Visa


Visa wants to simplify its regulations and make it easier for merchant acquirers, merchants, and card issuers to deal with. It also wants to make its acceptance more attractive and feasible to small merchants with less than $15,000 in annual credit/debit card volume. The feedback Visa received from issuers, merchants, and acquirers, has helped it realize that they are “pretty difficult to deal with.” A big part of the difficulties were in the areas of chargebacks and processes that they had in place, as well as confusing reporting requirements and documentation.


Why Now?

The increasingly competitive electronic payments market forced Visa to consider ways to become more user friendly and increase customer satisfaction in order to increase business. With countries like India launching their own nationwide payment gateway system called RuPay, Russia is now considering the same. India had announced the Launch of RuPay in early May 2014.

Russian politics caused the American government to impose sanctions on Russia. There are about 100 million Visa cards issued in Russia and Visa could see a possible loss of revenue in Russia. Russia is now considering its own national payment gateway system and may decide to keep Russian transaction processing and settlement operations within the country. That could be a huge setback for Visa.

The electronic payment industry is getting very competitive and these problems are just starting for Visa. Visa must change if it wants to remain a market leader.


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