January 30, 2004
VISA RIS Announcement
Dear Client,
As part of our continuing effort to keep our merchants informed about Card Association programs and regulations, we would like to update you on Visa?s RIS program.
Visa operates the Risk Identification Service Program or RIS, a monitoring program that records and tracks potentially fraudulent transactions reported to these systems by card issuers. Visa sets activity parameters for merchants and their acquiring banks. Unacceptable fraud levels at merchant locations or acquirers due to merchant activity are penalized by the card associations. These programs have existed in association regulations for some time, but are only now being aggressively enforced.
It is important to remember that, in accordance with your iBill processing agreement, penalties assessed by the card associations for violations are passed along to clients contributing to those violations.
Merchants in violation will receive proper notification of any penalties and an itemization of transactions contributing to fraud and the resulting penalties. You should be aware that the card associations do not readily report potential fraud transactions to acquirers in the same manner as chargebacks. It is important to note that information pertaining to fraudulent transactions will only be available once a violation is committed. Therefore, it is urged that clients be mindful of reducing their use of marketing techniques that, although legal, may contribute to an increased number of potentially fraudulent transactions.
We will soon be providing more detailed information on the RIS program, as well as how you can avoid being subject to fines under the program on iBill.com. You will be notified when that information is available. Please feel free to contact your customer service representative at [email protected] if you have any questions.
Sincerely,
iBill
VISA RIS Announcement
Dear Client,
As part of our continuing effort to keep our merchants informed about Card Association programs and regulations, we would like to update you on Visa?s RIS program.
Visa operates the Risk Identification Service Program or RIS, a monitoring program that records and tracks potentially fraudulent transactions reported to these systems by card issuers. Visa sets activity parameters for merchants and their acquiring banks. Unacceptable fraud levels at merchant locations or acquirers due to merchant activity are penalized by the card associations. These programs have existed in association regulations for some time, but are only now being aggressively enforced.
It is important to remember that, in accordance with your iBill processing agreement, penalties assessed by the card associations for violations are passed along to clients contributing to those violations.
Merchants in violation will receive proper notification of any penalties and an itemization of transactions contributing to fraud and the resulting penalties. You should be aware that the card associations do not readily report potential fraud transactions to acquirers in the same manner as chargebacks. It is important to note that information pertaining to fraudulent transactions will only be available once a violation is committed. Therefore, it is urged that clients be mindful of reducing their use of marketing techniques that, although legal, may contribute to an increased number of potentially fraudulent transactions.
We will soon be providing more detailed information on the RIS program, as well as how you can avoid being subject to fines under the program on iBill.com. You will be notified when that information is available. Please feel free to contact your customer service representative at [email protected] if you have any questions.
Sincerely,
iBill
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