Visa's Dispute Monitoring Program is a set of rules and regulations designed to help protect and manage cardholder disputes. The program ensures that banks and financial institutions maintain proper documentation in order to reduce the risk of disputes arising from improper authorization, identity theft, fraud, or other unauthorised activities.

The Visa Dispute Monitoring Program requires banks and financial institutions to adopt specific policies and procedures for dispute resolution. This includes rules governing the verification of cardholder identity, and the prompt resolution of merchant disputes. The program also requires banks and financial institutions to provide timely notification to cardholders if a dispute arises, as well as submit an appropriate report to Visa in order for the dispute to be resolved quickly and efficiently.

The Visa Dispute Monitoring Program is designed to ensure that all parties involved in a dispute receive the best possible outcome. It also helps protect cardholders from unauthorised transactions and potential financial losses due to fraud or identity theft. Banks and financial institutions must comply with Visa's rules and regulations in order to remain compliant with the program and to keep their customers safe.

• Feature :

1. The Visa Dispute Monitoring Program provides a number of features to help protect both merchants and cardholders.
2. These include secure digital authorization, identity verification, dispute resolution processes, and prompt notification of disputes.
3. Additionally, the program helps to reduce fraudulent transactions by quickly identifying unauthorised activities and alerting cardholders when a dispute arises.
4. Banks and financial institutions must also provide detailed documentation for each dispute, ensuring that all parties involved in the transaction can be properly informed.

• Benefits :

1. The Visa Dispute Monitoring Program helps to protect consumers by providing a secure environment where cardholders can safely make purchases online or in-person.
2. It also safeguards against potential losses due to fraud or identity theft.
3. Additionally, the program helps to ensure that merchants receive prompt notification and resolution of disputes in a timely manner.

Pros And Cons –

• PROS –

1. The program helps to protect consumers by providing a secure environment to make purchases.
2. It safeguards against potential losses due to fraud or identity theft.
3. It ensures that merchants receive prompt notification and resolution of disputes in a timely manner.

• CONS –

1. The program can be difficult for banks and financial institutions to implement as it requires strict adherence to the rules and regulations.
2. Cardholders may face delays in dispute resolution due to lack of timely notification or insufficient documentation.
3. The program can be costly for banks and financial institutions as they must provide detailed documentation for each dispute.

How To Get Off The VDMP ?

If you believe that you have been wrongly charged or if there is a dispute over the transaction, then you should contact your bank immediately. Banks must comply with Visa’s Dispute Monitoring Program and can provide guidance on how to dispute a charge. 

Generally, banks will review the transaction information, contact the merchant for additional information, and issue a credit to your account if warranted.

If you are still not satisfied with the bank’s resolution, then you can contact Visa directly. They have an online dispute form that you can use to submit a dispute. Visa will investigate the issue and work to resolve it in an efficient manner. Additionally, they may refer you to other resources to help resolve the dispute.

Ultimately, the Visa Dispute Monitoring Program helps protect cardholders and merchants alike by providing secure authorization processes, identity verification, and prompt resolution of disputes. Banks and financial institutions must comply with the program in order to remain compliant and keep their customers safe. If you believe there has been a fraudulent charge or dispute over a transaction, then you should contact your bank or Visa directly for assistance.

Is VDMP the Same as VFMP? And How Can I Avoid Enrollment in VDMP?

No, the Visa Dispute Monitoring Program (VDMP) is different from the Visa Fraud Monitoring Program (VFMP). The VDMP focuses on providing secure authorization processes and dispute resolution for merchants and cardholders. The VFMP is designed to detect potential fraudulent activity by monitoring cardholder spending patterns.To avoid enrollment in the VDMP, merchants should always ensure that their card processing system is secure and compliant with Visa’s standards. Additionally, they should promptly notify their customers when a dispute arises and provide accurate documentation for each transaction to help resolve the dispute quickly. Cardholders can also take steps to protect their accounts from fraud by regularly monitoring activity and immediately notifying their bank of any suspicious activity. Finally, banks and financial institutions should ensure that all their employees are trained on proper card processing procedures and up-to-date on the VDMP regulations. This will help ensure that customers receive prompt notification and resolution of disputes in a timely manner. 

John B. Wilson Member since March 20, 2023