Visa Core Rules and Visa Product and Service Rules

Visa Core Rules and Visa Product and Service Rules

15 October 2022

Version 1.1 (28 December 2022)

? 2014--2022 Visa. All Rights Reserved.

The trademarks, logos, trade names and service marks, whether registered or unregistered (collectively the "Trademarks") are Trademarks owned by Visa. All other trademarks not attributed to Visa are the property of their respective owners.

Visa is committed to providing our partners and interested parties with greater insight into Visa's operations. As part of our effort, we are pleased to provide access to the latest edition of the Visa Core Rules and Visa Product and Service Rules, which govern participation of our financial institution clients in the Visa system.

To protect cardholders and merchants and maintain the integrity of the Visa system, we have omitted proprietary and competitive information, as well as certain details from the rules relating to the security of the network.

Any regional or country-specific rules within the Visa Core Rules and Visa Product and Service Rules apply only to the operations of financial clients within the relevant region or country, and any rules marked with the name of a region(s) or country(ies) are applicable to financial institutions operating in that region(s) or country(ies) only.

The Visa Rules must not be duplicated, in whole or in part, without prior written permission from Visa.

If you have questions about Visa's rules, please contact us.

Contents

Visa Core Rules and Visa Product and Service Rules

Contents

Contents

3

Tables

27

Summary of Changes

43

Summary of Changes since the 23 April 2022 Visa Core Rules and Visa Product and Service

Rules

43

Introduction

54

The Visa Rules

54

1 Visa Core Rules

57

1.1 General

57

1.1.1 Governance

57

1.1.2 Local, Domestic, and Regional Rules and Private Agreements

64

1.1.3 Waivers

64

1.1.4 Operating Certificates

65

1.1.5 Confidentiality

65

1.1.6 Visa Rights

69

1.1.7 Use of VisaNet

72

1.1.8 Liabilities and Indemnifications

73

1.2 Licensing and Numerics Management

76

1.2.1 Licensing ? General Membership

76

1.3 Use of Marks

77

1.3.1 Marks License

77

1.3.2 General Use of Marks

77

1.3.3 Protecting the Visa Brand

81

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Contents

Visa Core Rules and Visa Product and Service Rules

1.3.4 Marketing, Promotion, and Advertising Materials

82

1.4 Issuance

87

1.4.1 Issuance Conditions

87

1.4.2 Account Numbers

87

1.4.3 Notification and Disclosure

88

1.4.4 Issuer Operational Standards

90

1.4.6 Zero Liability

92

1.5 Acceptance

92

1.5.1 General Acquirer Requirements

92

1.5.2 Merchant Agreements

98

1.5.3 Marks Display

99

1.5.4 Card Acceptance

99

1.5.5 Card Acceptance Prohibitions

106

1.5.6 Transaction Receipts

108

1.5.7 Merchant Deposits

109

1.5.8 Travelers Cheques

110

1.6 ATM

111

1.6.1 ATM Requirements

111

1.7 Transaction Processing

111

1.7.1 General Processing

111

1.7.2 Data Requirements

112

1.7.3 Acquirer Authorization Requests

113

1.7.4 Issuer Authorization Processing

114

1.7.5 Clearing

115

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Visa Core Rules and Visa Product and Service Rules

1.7.6 Settlement

116

1.7.7 Reversals and Adjustments

116

1.8 Processing Products

118

1.8.1 Original Credits

118

1.9 Interchange

118

1.9.1 Interchange Reimbursement Fee (IRF) Determination and Payment

118

1.9.2 Interchange Reimbursement Fee (IRF) Adjustments and Compliance

119

1.10 Risk

121

1.10.1 Corporate Risk Reduction

121

1.10.2 Brand Protection

126

1.10.3 Investigations

126

1.10.4 Information Security

127

1.10.5 High-Brand Risk Activity

130

1.10.6 Recovered Cards

131

1.10.7 Counterfeit Losses

131

1.10.8 Agents

132

1.10.9 Card Manufacturing and Distribution

135

1.11 Dispute Resolution

137

1.11.1 Disputes

137

1.11.2 Arbitration and Compliance

138

1.12 Fees and Non-Compliance Assessments

139

1.12.1 Fee Assessment by Visa

139

1.12.2 Non-Compliance Assessments

140

2 Licensing and Numerics Management

150

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Contents

Visa Core Rules and Visa Product and Service Rules

2.1 Membership

150

2.1.1 Member Acquisitions and Mergers

150

2.1.2 Acquirer Licensing

151

2.1.4 Changes to Member Information or Status

152

2.3 BIN and Acquiring Identifier License and Administration

152

2.3.1 BIN and Acquiring Identifier Use and License

152

2.3.2 Administration of BINs, Acquiring Identifiers, and Numerics

154

2.3.3 Account Range and BIN Use

156

2.3.4 Use and Disclosure of BIN Information

157

2.4 Marks License

158

2.4.1 Marks License Grant

158

2.5 Visa US Regulation II Certification Program

158

2.5.1 Visa US Regulation II Certification Program ? US Region and US Territories

158

2.6 Product-Specific BIN Requirements

159

2.6.1 Visa Consumer Products

159

2.7 Client Portfolio Management Self-Service Tools

160

2.7.1 Client Portfolio Management Self-Service Tools Requirements

160

2.8 Non-Visa BINs and Acquiring Identifiers

160

2.8.1 Non-Visa-Assigned BINs and Acquiring Identifiers

160

2.9 EU Passporting

161

2.9.1 EU Passporting ? Europe Region

161

3 Use of Marks

162

3.1 Marks License

162

3.1.1 Affinity/Co-Branded Card Programs

162

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Contents

Visa Core Rules and Visa Product and Service Rules

3.1.2 Marks License Grant

163

3.1.3 Sponsorships and Partnerships, Including the Olympics

163

3.2 Use of Marks

164

3.2.1 Use of Marks by Members and Merchants

164

3.2.2 Use of Marks in Promotions, Advertisements, and Solicitations

165

3.2.3 Use of Marks on Cards

166

3.3 Other Card Requirements

168

3.3.1 Magnetic-Stripe Encoding

168

3.4 Point-of-Transaction Display of Marks

169

3.4.1 Display of Marks at the Point of Sale

169

4 Issuance

170

4.1 General Issuance

170

4.1.1 General Issuer Requirements

170

4.1.2 Visa Credit Card Issuance

177

4.1.3 Visa Charge Card Issuance

180

4.1.4 Debit Card Issuance

180

4.1.6 Affinity/Co-Brand and Global Co-Brand Issuance

182

4.1.7 Card Production Standards

186

4.1.8 Virtual Accounts

187

4.1.9 Issuer Disclosures

187

4.1.10 Confidentiality of Cardholder Information

193

4.1.11 PIN Requirements

193

4.1.12 Data Retention and Transmission

194

4.1.13 Provisional Credit/Zero Liability

195

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Contents

Visa Core Rules and Visa Product and Service Rules

4.1.14 Emergency Cash Disbursement, Emergency Card Replacement, Global Customer

Assistance Services (GCAS)

199

4.1.15 Insurance/Benefits

204

4.1.16 Click to Pay

206

4.1.17 Visa Token Service

207

4.1.18 Visa Digital Enablement Program

213

4.1.19 Chip Issuance Requirements

215

4.1.20 Pass-Through Digital Wallet Requirements

235

4.1.21 Payment Solution Providers

236

4.1.22 Card Personalization ? Europe Region

237

4.2 Visa Electron

237

4.2.1 Visa Electron Issuer Requirements

237

4.3 Visa Check Card

238

4.3.1 Visa Check Card ? Issuer Requirements

238

4.3.2 Secured Card ? Issuer Requirements

239

4.4 Visa Gold

240

4.4.2 Visa Gold ? Issuer Requirements

240

4.4.3 Visa Gold ? Features and Benefits

241

4.5 Visa Platinum

242

4.5.1 Visa Platinum ? Card Requirements

242

4.5.2 Visa Platinum ? Customer Service Requirements

243

4.5.3 Visa Platinum ? Issuer Requirements

243

4.5.4 Visa Platinum ? Features and Benefits

243

4.5.5 Visa Platinum Prepaid ? Issuer Requirements

244

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