VISA ACCEPTANCE RISK STANDARD
We can help your organisation with global payments
We can help you meet the payment regulators requirements
Acquirers are at the very cornerstone of the payment card industry:
They are the financial institutions that enable those businesses offering goods or services to accept card payments, and as such, all acquirers in the Visa payment system must comply with the VISA Acceptance Risk Standards.
The acquirer takes direct responsibility for the suitability, efficacy and integrity of its merchant portfolio and is obliged to ensure appropriate conduct and compliance, in line with its operating terms and permissions from the international payment card schemes.
Developments and implementation of the Visa Acceptance Risk Standard:
The Visa Global Acquirer Risk Standard was developed to provide acquirers with a set of risk controls to aid in protecting their institutions and the card payment system from undue financial harm or reputational damage.
If an acquirer or agent fails to implement an approved remediation plan within the agreed-upon timeframe, Visa may impose Member Risk Reduction Requirements.
Key Visa acquirer risk responsibilities:
Policies
Merchant Agreements
Merchant Underwriting
Reserves and Funding
Merchant Risk Monitoring
Third-Party Agent Risk
JOLLY STRATEGIC ADVISORS IS ABLE TO DISCHARGE VISA ACCEPTENCE RISK STANDARDS REVIEWS WORLDWIDE
And to examine, evaluate and guide remediation or provide an independent compliance review for any acquirer around the globe.
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Jolly Strategic Advisors' engagement can either be voluntary, sought by acquirers anxious to improve their practices and to demonstrate compliance, or may be directed by Visa themselves as a result of the acquirer’s merchant portfolio bringing pollution or disrepute to the payment eco-system and needing remediation.
VISA ACCEPTANCE RISK STANDARDS (VARS) REVIEWS
AJC is uniquely placed - amidst very few Visa-approved firms - to aid and assure acquiring businesses through review and remediation, whether they are dealing with merchants directly or through third-party agency models.
Our team boasts a number of industry-leading consultants, practitioners, and former senior executives from leading acquiring banks to execute each engagement. Typically, the team will engage directly and indirectly over the course of a week to produce a detailed assessment report. This identifies gaps and provides a guided remediation programme where necessary.
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