Card Scheme Changes
Card Payment processing is a highly regulated industry, which is to be expected since it deals with sensitive and private financial information. The goal of these regulations is to protect all parties involved in processing transactions — cardholders, merchants, acquirers and the issuing banks.
Elavon stays current and compliant with all applicable regulations. Our goal is to ensure you are aware of what is currently happening within the industry, in order to remain compliant. So please see below for latest news relating to Scheme Changes, Customers Updates and Data Security.
Latest Scheme Changes
Changes to the Visa Chargeback process as of 15 April 2018Elavon-GB-Keywords:elavon-news/Scheme-Changes
Visa is changing the way it handles disputed transactions (also known as Chargebacks) within the payments industry with effect from 15 April 2018 by introducing the Visa Claims Resolution (VCR) initiative. This aims to improve the efficiency of handling disputes and reduce the number of invalid Chargebacks.Full Article