Improving Authorization Management for Transactions with Visa's Stored Credential (Card-on-file) Transaction Framework and Visa's Requirements for Authorization on Purchase Returns

Amitabh Awasthi and Arturo Martinez - Visa


On August 30, 2017, Visa presented a two-part webinar covering a pair of announced Visa initiatives and how they impact the merchant community:

1. Stored Credential Transaction Framework Requirements -- With the rapid growth in digital commerce, instances in which a transaction is initiated with a stored credential based on a cardholder's consent for future use have increased significantly. Visa's requirements for its Stored Credential Transaction Framework, including mandates to identify initial storage and subsequent use of payment credentials, are effective October 2017. Having stored credential transactions specifically identified as such allows for differentiated treatment through the authorization approval process, including higher authorization approval rates and completed sales, greater visibility of transaction risk levels for issuers, enhanced cardholder experience, and, where available, participation in Real Time Visa Account Updater Service.

2. Authorizations on Purchase Return Messages -- To address the lack of real-time return information available in consumers' accounts, Visa is enabling such information about returns. These return authorizations will originate from the merchant and be sent to the cardholder's bank through an authorization message. As part of this initiative, which begins to takes effect in April 2018, Visa will require acquirers and merchants to receive and pass return authorization messages for both card-present and card-not-present transactions.

Slides for each part of the webinar are available by signing in or becoming a member, then returning to this page.

To view the webinar, click here.

Visa's Stored Credential Transaction FrameworkVisa's Requirements for Authorizations on Purchase Returns

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