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Visa Inc. Statement on Changes to U.S. Operating Regulations on Non-Visa Debit Transactions on Visa-Branded Cards


Visa Inc. (NYSE:V) has revised its U.S. Operating Regulations to expand the conditions under which non-Visa debit transactions can be processed without PIN validation on Visa-branded debit cards, effective July 1, 2008.

The revision to the Visa USA Operating Regulations was made in response to inquiries by the Department of Justice and the Attorneys General of Washington, D.C., Ohio and New York. It will give merchants and financial institutions more processing options.

While Visa believes its previous rule was fair and competitive, Visa is pleased that the action will resolve the regulatory investigations of Visa’s rules governing PINless debit transactions launched by the Department of Justice and these Attorneys General.

Following this rule change, the decision on whether to enable these transactions will be made by financial institutions that issue Visa debit cards. Today, these issuers have chosen to process approximately 80 percent of their debit transactions over the Visa network.

Visa cardholders also trust that Visa check cards offer protections such as Visa’s Zero liability policy, streamlined dispute resolution and possibly rewards. To avoid confusion, Visa will continue working with issuing and acquiring financial institutions to ensure that cardholders have the clear opportunity to make informed decisions about their payment choices and that those choices are honored.


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