Fireside Chat with Visa: Compelling Evidence 3.0
Disputes are set to cost Merchants $100bn in 2023 (Source: Merchant Fraud Journal, 2022), industry issues such as first-party misuse create unnecessary disputes resulting in operational costs and lost revenue fueling these losses for merchants. In 2022, Visa announced an update to compelling evidence rules making it simpler for merchants to combat first-party misuse, creating a fairer payments ecosystem. With this evolution of compelling evidence, merchants can now provide issuers with important details about a transaction, referred to as qualified transaction data, to confirm the legitimacy of a transaction and block any illegitimate fraud claims by the consumer. Come April 2023, the rule will be in effect for both the pre-dispute path (deflecting the dispute at the customer inquiry) and post-dispute path (providing the qualified transaction data in pre-arbitration) for Visa transactions. This fireside chat will discuss the rule, updates since its announcement, technical implementation for pre-dispute through Order Insight, and also explore the various use cases of this evolved compelling evidence rule. Merchants will have an opportunity to engage with Visa team members to clarify questions and ask detailed questions on the pre- and post-dispute path, along with how this change impacts the wider payments ecosystem.
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