Visa to add new chargeback fees for EU travel firms

Posted by Pat Phelan on July 25, 2014

landscape-of-mac-keyboard-with-travel-key

Per Payment Magnates, Visa will introduce an additional fee of 12 euros per chargeback for CNP fraud (cardholder not present) in the travel industry.

Visa cited a rising rate of fraud in the travel sector, especially among online and telephone transactions. The rapid rise of online bookings and the big-ticket nature of many transactions have turned this into a significant e-commerce fraud problem.

“A fee of €12 per unsecure keyed fraud chargeback will be levied on Visa Europe acquirers for unsecured CNP transactions,” stated Visa’s message to acquirers.

More details on Visa's announcement are here.

Topics: Identity