VISA Return Authorization Mandate
Visa has recently instituted a global change in how refunds are required to be processed. While the intent of this is to improve visibility and the customer experience, there are situations where the refund may be declined. Note that this decline is outside of Neat’s control and we will work with you to ensure your refund is processed via alternate methods (e.g. check refund) to get your funds refunded as quickly as possible.
Please refer to Visa’s information here: https://www.verifi.com/visa-purchase-return-authorization-issuer/
In the event your refund to a Visa card has failed, Neat will reach out to customers as soon as possible with alternatives.
- Why is Visa beginning this mandate?
- Why would a return authorization be declined?
- What are the steps to follow when a declined return authorization response is received?
- Can I use another credit card to get my refund?
Why is Visa beginning this mandate? (provided by Visa)
The return authorization mandate is intended to improve the current cardholder experience by allowing them to view a credit/return on their online banking statement in real-time, receive text alerts and minimize return inquiries. Before this mandate, cardholders would often have to wait several days before a purchase return would hit their online banking statement. During this time, they would receive no updates on the status of the return and have no way of knowing that a return had been processed at all unless they inquired directly with the merchant.
Why would a return authorization be declined? (provided by Visa)
This scenario could occur for several reasons, including, but not limited to:
- Card account has been closed
- Pre-paid card was used and discarded
- Issuer’s return authorization parameters are too strict
What are the steps to follow when a declined return authorization response is received? (provided by Visa)
The merchant can choose another form of credit, depending on the refund policy, including check, in-store credit, bill credit, or a prepaid card.
Can I use another credit card to get my refund?
For account security and fraud prevention, Neat cannot use another credit card to provide the refund. If Visa declines the refund, then we must provide a refund in the form of a check.