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Fraud using Verified by VISA

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Question: 
Our processor says we don’t have chargeback rights since a purchase was made using Verified by VISA. Can we deny the claim since the cardholder’s password was used?
Answer: 

Reg E does not permit claims to be denied in cases of customer negligence. If the customer’s password was hacked, stolen, or phished, they still have a valid claim under Reg E regardless of whether or not the Bank has chargeback rights.

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Learn more about Brian Crow’s webinar VISA & Reg E Error Resolution

First published on 09/13/2020

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