Overview
Visa understands that access to cash is an important part of the UK payment ecosystem especially in areas where there are declining number of bank branches and ATMs. Visa is looking to adapt our Cash-back product to allow merchants to offer cardholders the ability to attain cash at POS without making a purchase.
What does this mean?
Central Processing Date 18 April 2020, Visa will introduce a product change to Cash-back transactions, which will allow a Merchant to offer a Cash-back transaction without a purchase needed on UK Visa debit1 cards. Depending on the geographical area, there will be an inter-client fee (paid by the Issuer to the Acquirer), which was highlighted in Visa Business News AI09540 that was published on 12 December 2019.
A Merchant, who offers Visa Cash-back today, can optionally decide whether they want to offer Cash-back without Purchase. All UK Visa Debit issuers that offer cash-back at POS today will automatically be enroll to this offer.
As mentioned above, Visa Cash back without Purchase is an optional service, but testing will be mandated for Issuers and Acquirers who offer or are looking to offer cashback. Testing will be available once the testing window opens for the April 2020 Business Enhancement Release.
Visa Cash-back without Purchase Framework:
- Product Selection: Cash-back will be offered on Visa debit2 cards. Issuers who have already enroll the appropriate Bank Identification Numbers (BINs) for UK Cashback service will automatically be included in this updated service.
- Cash-Back Limits: The maximum cash-back limit per transaction will be GBP 100, with no minimum limit.
- Rules: Clients must comply with all cash-back Visa rules. A Merchant can optionally choose whether they want to offer Cash-back without Purchase or with a Purchase.
Refer to your local Visa Representative for any technical or implementation aspects and if you have any questions regarding this bulletin please contact the Visa Technology Partner management (European) team via email at chipven@visa.com.
If you have any questions or need any clarification, feel free to get in touch with us on 01772 790 901 or email us at customerservice@suresite.co.uk
