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Fall network update newsletter

 
As thought leaders and business partners, we strive to keep you informed of the most recent news in this fast-changing payments industry. The Fall 2018 network update is dedicated to covering the most recent changes from the major card networks: Visa®, Mastercard®, American Express®, and Discover®.

Look for the recording of our recent network update webinar in the November issue of the Advantage Bulletin.
 
 
 
 
Worldpay transitioning to settlement date billing for PIN debit transactions
 
Effective October 1, 2018, Worldpay transitioned from transaction date billing to settlement date billing for PIN debit transactions.
 
 
 
 
Visa Claims Resolution (VCR) update
 

It has been almost six months since the Visa Claims Resolution (VCR) launch. As a refresher, Worldpay is offering VCR webinars to review the reports made available to you for VCR disputes, discuss the reason codes, and walk through a VCR dispute using iQ. Click here to register for one of these webinars.

As a reminder, VCR time-based dispute response and acceptance fees took effect on October 1, 2018.

Did you know, that the number of days to close original disputes decreased by 55 percent with the implementation of VCR? Click on the link below for additional statistics from Visa regarding the new dispute process. 

 
 
 
 

Update: Mastercard Claims Manager

 
Mastercard has announced that it will delay the arbitration chargeback and mandated pre-arbitration process changes for dual message disputes until April 17, 2020.
 
 
 
 

Recent core iQ updates

 
Click on the link below to learn about the latest core iQ enhancements.
 
 
 
 

Daylight saving time ends on November 4

 
On Sunday, November 4, 2018, Worldpay will update our processing systems to accommodate the one-hour time change from daylight saving time to local standard time. During this event, clocks are moved back by one hour.

Worldpay systems will undergo maintenance on Sunday morning, November 4.
 
 
 

In every issue

 
 
 
 
Holiday reminder - Columbus Day: Click here
 
 
 
 
Worldpay 2018 peak season update: Click here
 
 
 
 
Live and recorded disputes webinars: Click here
 
 
 
 
Disputes and chargeback information: Click here
 
 
 
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