Visa Improves Limits on EMV Chargebacks to Compliant Retailers

Visa Improves Limits on EMV Chargebacks to Compliant Retailers

Visa has announced new chargeback policies that will be in effect from July 22 until April, 2018. These changes are designed to safeguard EMV-compliant merchants against liability for fraudulent credit and debit card transactions. Chargebacks under $25 that are due to counterfeit fraud in the U.S. will no longer be charged back to retailers. CSP News reports that Visa will block those chargebacks and, beginning in October 2016, it will also limit card issuers to charging back 10 fraudulent counterfeit transactions per account.