REPORTING HUB FOR MERCHANTS OF SIGNATURE CARD SERVICES
Visa’s old process for managing chargebacks and disputes was outdated (last revised 15 years ago),
inefficient, and lengthy (46 days on average to resolve a chargeback). The card network has created a more modern,
streamlined approach to claim resolutions called Visa Claims Resolution (VCR). It was designed to address all the
issues the old system had and reduce time, cost, and the number of chargebacks.
VCR has arrived and we bet there is a lot you want to know. Click here for most frequently asked questions about VCR.
If you have any questions or concerns regarding this change, please reach us at security@signaturecard.com or 800.631.3072.
On April 8, 2018, Mastercard modified the Acquirer Brand Volume Fee (assessments) from 0.12%
to 0.13%. This increase applies to all Signature debit transactions as well as consumer and commercial
credit transactions under USD 1,000.
If you have any questions or concerns regarding the increase, please reach us at support@signaturecard.com
or 800.631.3072.
On April 13, 2018, Visa’s transaction integrity fee extended to include U.S. domestic and
interregional Visa credit card purchase transactions. These are assessed to consumer, commercial, and
business credit transactions that either fail or do not request CPS qualification.
If you have any questions or concerns regarding the fee, please reach us at support@signaturecard.com
or 800.631.3072.
As of May 1, 2018, the IRS fee reflected on your monthly merchant statement will increase from $1.95 to
$2.95. This increase of $1.00 per month is related to the preparation and sending of the mandated IRS 1099-k form.
The 1099-k form reports the total amount paid to a merchant each year through credit card sales.
If you have any questions or concerns regarding the increase, please reach us at support@signaturecard.com
or 800.631.3072.
Starting May 11, 2018, Financial Crimes Enforcement Network will impose new regulations regarding beneficial
ownership. The new beneficiary ownership requirements are to help prevent evasion of targeted financial sanctions,
facilitate tax compliance, and provide information that will assist law enforcement in financial investigations.
Please note that if necessary, you will need to provide validation and verification of beneficial ownership and
controlling position information, as well as the social security number for each beneficial owner.
If you have any questions or concerns regarding these changes, please reach us at support@signaturecard.com
or 800.631.3072.