Offers a Wealth of Benefits to Issuers
- Helps issuers in Europe comply with their regulatory requirements when consumers instruct them to stop payments from debiting their accounts.
- Can reduce the need for issuers to charge back payments.
- May improve the cardholder experience when merchants are unresponsive.
- Can reduce recurring payments operational costs.
Benefits Acquirers, Too
- Provides acquirers and their merchants with descriptive authorization response codes and return reason codes.
- Helps reduce chargebacks and authorization declines by providing information that a stop instruction is on file.
- Encourages consistent handling of stop payment instructions and revocation of authorization orders.
Gives Cardholders Convenience and Control
VEPSS gives cardholders a way to stop future card-on-file payments from debiting their accounts, facilitating more control and convenience. Visa provides an integrated solution within an issuer's back-office or call center application to allow them to initiate stop payment instructions.
Keeps Merchants Informed While Reducing Chargebacks
VEPSS lets merchants know that a consumer has withdrawn their consent for them to take payment from their card. This communication enables consistent handling of stop instructions, which may reduce chargebacks.