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As part of their ongoing efforts to reduce ecommerce fraud globally, Visa is applying new thresholds to its existing programs, and Mastercard has created a new fraud monitoring program.
Starting in October 2019, Visa will apply new thresholds to its Visa Fraud Monitoring Program (VFMP) and Visa Chargeback Monitoring Program (VCMP). Visa’s goal is to improve the efficiency of these programs to reduce fraud and disputes while protecting the integrity of the Visa payment system. The new thresholds, effective globally, are as follows:
Please keep in mind that in order to be identified in the VFMP and/or the VCMP, both the fraud dollar/chargeback count and rate thresholds need to be met.
In the US, Mastercard’s new program is called the Excessive Fraud Merchant (EFM) Compliance Program. Starting in October 2019, merchants processing Mastercard in the US will be subject to the EFM program. In order for a company to be flagged in the program, all of the following thresholds will have to be met:
For example, a company will be identified in the EFM program for the month of October if:
Mastercard will start assessing fines for merchants identified in this program starting in March 2020.
With this new Excessive Fraud Merchant Compliance Program, Mastercard is encouraging merchants to adopt best practices towards fraud mitigation, such as implementation of proactive authentication solutions like 3DS or fraud detection tools such as Adyen’s RevenueProtect.
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