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Distributor Frequently
Asked Questions
A. Can these products be used
for Mail Order/Telephone Order (MOTO)The
new Visa Flag products operate under the flag rules contained in the VIOR.
As such, whenever a Visa card is accepted, consumers will be able to use
their International Visa Card. However, members are able to determine the
use of the card issued by them and detail any restrictions or consumer
obligations/liability through the cardholder agreement. If members are to
restrict the use of these products at MOTO then it is recommended that
cardholders are made aware of these restrictions at time of card issuance.
B. Why is the unembossed Visa Necessary ? Why not just issue
the Visa Electron Card?
1. It helps to drive POS usage since
consumers associate Visa Flag with POS utility
2. It provides an option that is less risky
to issuers than embossed cards and has greater brand equity than the Visa
Electron
3. It will be very expensive to introduce
Visa Electron in markets where the Visa Flag is the only mark (e.g.
Australia, Korea,
Japan) and
too "risky" to issue embossed Flag debit.
C. Does the Introduction of
International Visa Card indicate that Visa will stop supporting the Visa
Electron
No, Visa Electron is still a valid and viable product
and is still supported by Visa
D. Will the un-embossed Flag
Product cause cardholder confusion or damage the core Visa brand
No, research indicates that there will be no
brand damage with cardholders or merchants.
E. What impact will the new
un-embossed Flag card product have on Issuers or Acquirers?
· Greater brand equity and POS usage than Electron
· Greater volume for acquirers/merchants from
incremental card issuance and usage
· Lower risk
· Card cannot be used at paper based merchants
F. How will regulators react
to an un-embossed Flag Product
The International Visa Card will not compromise any of the
issues that regulators normally focus on:
· Stability and efficiency of payment systems
· Prudential lending
· Control over cross-border funds flows
· Control over money laundering
· Privacy and confidentiality (banker-client)
· Account opening, "Know-your-customer" and
compliance processes
· Pricing of goods and services
· Taxation and evasion
· Interest rates
G. Where can the International Visa Card be
distributed - While the card can be distributed
internationally it cannot be distributed to countries which have been
economically blacklisted by OFAC. This would include countries such as
Burma, Cuba, Iran, Iraq, Zimbabwe, Liberia etc. If there are any countries
you would like to distribute to but are unsure of their OFAC status please
contact our corporate offices for confirmation.
H.
USA Dollar
Denominated Card - Because the International Visa Card is a US
Dollar denominated card, US Card holders will have the advantage of not
suffering currency exchange losses when reloading or using the card in the
US.
COMPLIANCE STATEMENTS
For the International Prepaid Visa program all Distributor’s
must be aware of the following clauses:
1. The International Prepaid Visa Card
is not a credit card
2. The International Prepaid Visa Card does not run on a credit card
platform
3. The International Prepaid Visa Card runs on debit card platform
4. The International Prepaid Visa Card is not an embossed card
5. The International Prepaid Visa Card does not extend a line of credit
6. The International Prepaid Visa Card is a re-loadable card
7. The Maximum ATM Withdrawal from a loaded International Visa Card is
determined
8. The International Prepaid Visa Card has a maximum load capacity of
$10,000
9. The International Prepaid Visa Card cannot be reloaded by Western Union
or Money Gram
10. The International Prepaid Visa Card is not an anonymous Card (The
card holders name and address will always be electronically linked to the
card)
11. The International Prepaid Visa Card requires a photo government proof of
identity i.e. passport, drivers license, national identity card. Inn some
countries the International. Prepaid Visa Card may also require a proof of
residence (Distributor’s are to be aware of legal requirements in countries
they are distributing to)
12. The International Prepaid Visa Card cannot be distributed to countries
and or individuals blacklisted by OFAC or Visa International.
13. The International Prepaid Visa Card cannot be promoted openly using
in-country mass media such as TV, press, radio. For retail signage the word
"international visa" must not be used.
001,
2002,
2003, 2004, 2005,
2006 GCI If you are seriously
interested in pursuing an opportunity
marketing debits cards, please
complete and submit the
Opportunity Contact Form
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