Global merchants selling both physical and digital goods and services through VISA that offer free trials or discounted introductory offers as part of a subscription / recurring offering, must comply with the updated requirements effective immediately.
The changes are designed to:
- Promote an enhanced customer experience.
- Enable cardholders & issuers to clearly identify these transactions.
- Bring more specificity and clarity to the disputes requirements. With these changes, cardholders will be provided clearer information, enabling them to identify, recognize, and take action on subscription transactions, reducing the need for disputes.
Specifically, cardholders will benefit from:
- Opportunities to expressly acknowledge the ongoing subscription agreement
- Immediate confirmation from the merchant of the terms of the agreement
- Proactive notification of future transactions
- Easier cancellation