Introduction to the Visa Core Rules and Visa Product and Service Rules

Visa has established rules that are designed to minimize risks and provide a common, convenient,

secure, and reliable global payment experience while supporting geography-specific rules that

allow for variations and unique marketplace needs. They are set and modified by Visa to support

the use and advancement of Visa products and services, and represent a binding contract between

Visa and each Member.

The Visa Core Rules contain fundamental rules that apply to all Visa system participants and specify

the minimum requirements applicable to all Members to uphold the safety, security, soundness,

integrity, and interoperability of the Visa system.

The Visa Product and Service Rules contain rules that apply to Visa system participants based on

use of a product, service, the Visa-Owned Marks, VisaNet, the dispute resolution process, and other

aspects of the Visa payment system. The Visa Product and Service Rules also include operational

requirements related to the Visa Core Rules.

The Visa Supplemental Requirements are Visa- or third-party-administered documents or websites

that contain requirements beyond the content of the Visa Core Rules and Visa Product and Service

Rules (for example: Visa Product Brand Standards, BASE II Clearing Services, Payment Card Industry

(PCI) Card Production and Provisioning – Logical Security Requirements).

Writing Conventions

The following conventions apply to the Visa Core Rules and Visa Product and Service Rules:

l “Visa” refers to any Visa Region, office, management, or committee.

l If the singular is used, it means the plural, and the plural means the singular. For example: “A

Merchant must...” means that “All Merchants must...”

l Responsibility is assigned to a Member. For example: “A Merchant must…” means “An Acquirer

must ensure that its Merchant…”

l Capitalized words have a meaning defined in the Glossary, except for the names of some Visa

products or services, which are capitalized but not defined.

l Defined terms are often combined