Visa VAMP 2025: What Merchants Need to Know About the New Fraud & Dispute Rules

Let’s start with the fun news: Visa is completely overhauling and consolidating dispute monitoring for card-not-presenttransactions. They are also introducing new metrics to manage to, some of which decrease over time.

Before jumping in, two important notes: if you have less than 1,000 card-not-present transactions a month, these changes will not apply to you. Also, if you process in a retail environment and swipe 100% of your transactions, they should not apply to you either.

Excited yet? Let’s dive in.

What Has Changed?

Instead of tracking fraud and disputes separately, Visa introduces a single metric: the VAMP Ratio. The good news is that means you only have to track one number when managing disputes.

VAMP Ratio = [Count of Card Absent Fraud Reports (TC40) + Count of Non-Fraud Disputes (TC15)] ÷ Count of Settled Transactions

This unified approach simplifies monitoring but also raises the stakes for merchants, especially those with high transaction volumes or operating in high-risk sectors.

Visa is rolling out the new VAMP thresholds in phases, starting at 1.50% as of April 1, 2025, and decreasing to 0.90% on January 1, 2026. Anything higher than that will be deemed “excessive” in Visa parlance. Excessive merchants receive additional fees and fines. It is important to note the two older categories, “above standard” and “early warning,” no longer apply. You are either compliant, or excessive.

These thresholds apply globally, with enforcement, including fines, beginning October 1, 2025.

Enumeration Fraud Monitoring

Visa is also cracking down on enumeration attacks—the automated card testing used by fraudsters. The Enumeration Ratio is being used to determine which merchants are lax in their security standards when it comes to card testing.

Enumeration Ratio = (Enumerated Authorization Transactions [Approved + Declined]) ÷ (Total Authorization Transactions [Approved + Declined])

If a merchant exceeds 300,000 enumerated transactions in a month and the Enumeration Ratio is ≥ 20%, they may face penalties.

Visa is targeting card testing with the Enumeration Ratio since these schemes have higher success rates, and Visa has a clear interest in preventing these types of attacks. The good news is, if you have fraud controls such as velocity and other filters set, you are not likely to be affected by the enumeration ratio, as you are not a target for card testing.

Fines & Enforcement

Starting October 1, 2025, Visa will impose fines for exceeding VAMP thresholds:

• Merchants (Excessive): $10 per dispute or fraud report. Visa noted this amount is subject to change at any time, without notice.

These fees apply after three consecutive months of non-compliance.

What Merchants Should Do Now

1. Monitor Your VAMP Ratio: Regularly track your fraud and dispute counts relative to settled transactions.
2. Enhance Fraud Prevention: Implement tools like 3D Secure, address verification, velocity filters, device fingerprinting and other fraud prevention tools.
3. Improve Dispute Resolution: Utilize pre-dispute solutions such as a Rapid Dispute Resolution (RDR) system to resolve issues before they escalate.
4. Collaborate with Dharma: Work closely with Dharma, Priority Payments and your underlying processor (Fiserv or TSYS) to understand and meet these thresholds.
5. Educate Your Team: Ensure your staff understands the importance of maintaining low fraud and dispute rates.

Final Thoughts

Visa’s updated VAMP program represents a significant shift in how fraud and disputes are monitored and managed. While the unified approach simplifies compliance, it also demands greater diligence as a merchant. By proactively adapting to these changes, you can minimize risks and maintain your good standing within the larger payments’ ecosystem.

For more detailed information, refer to Visa’s official VAMP fact sheet.