Accelerate Resolutions to Disputed Transactions … Fast
Now, there is a better way to quickly resolve issues when cardholders question a transaction … Visa Merchant Purchase Inquiry … or VMPI. With VMPI, merchants can respond to cardholder questions about unknown transactions and other potential disputes … in close to real-time.
With ongoing growth in chargebacks from unrecognized transactions, and particularly from online or other digital activity, VMPI was created to help merchants, issuers, acquirers and cardholders an efficient method to identify valid transactions and avoid costly chargebacks.
How Does VMPI Work?
VMPI is a direct connection between the merchants’ transaction database and the issuing banks using the Visa platform. The process allows merchants to seamlessly share information to the issuers. and involves the following steps:
Cardholder contacts their bank about a questionable transaction, and the issuer retrieves details via Visa Resolution Online (VROL)
Visa validates if the merchant is registered for VMPI
Visa sends a message to the merchant for additional information
Merchant provides additional data such as order details, tracking, refund, etc.
Merchant responds in near-real-time to the issuer
Visa provides data to issuer, who then verifies details with the cardholder
Transaction Services is now registered for VMPI, and can help merchants resolve potential disputes and chargebacks more efficiently than ever. This capability is especially relevant and important for merchants selling products and services online and through other digital platforms.
Learn more about VMPI and Transaction Services … contact us today to schedule a meeting.