Refund Information

VISA BUSINESS REVIEW – SYSTEMS & OPERATIONS
MARCH 2002, ISSUE NO. 020326 PAGE 3

ELECTRONIC COMMERCE MERCHANT AND MAIL ORDER MERCHANT REFUND POLICY DISCLOSURE

Effective November 15, 2002, Operating Regulations have been amended to clarify proper refund policy disclosure requirements for electronic commerce and mail order merchants.

Electronic Commerce Merchants

For an Acquirer to be protected from liability related to cardholder disputes resulting from an alleged non-
disclosure issue, the refund policy must be presented in one of two ways on the merchant’s Web site:

• The refund policy must be clearly displayed on the same screen view as the checkout screen used to present the total purchase amount that is accepted by the cardholder when clicking on an affirmative button, or
• The cardholder must acknowledge the limited refund policy by clicking an “accept” or other affirmative button acknowledging a limited refund policy during the checkout process.

Mail Order Merchants

For mail order transactions, proper disclosure of the refund policy consists of clear communication of the terms and conditions of the sale on the order form, invoice, or contract:

• Printed in letters approximately 0.25 inches high
• Near the cardholder signature area

These revisions to electronic commerce merchant and mail order merchant requirements will help minimize chargebacks and associated costs for Members and merchants.

Please allow 3-4 weeks for shipping on all products.