Visa USA Saves Cardholders Time and Hassle in Resolving Disputes

As consumers continue to turn to electronic payments instead of cash and checks, a new program by Visa USA will resolve cardholders disputes much more quickly, usually within just one billing cycle. Eventually the program will help to avoid many unnecessary disputes from occurring in the first place. Visas new "RED" program, short for Re-Engineering Disputes, is a transformation of the entire dispute resolution process that will benefit consumers. The new Visa program will expedite disputes by increasing automation and communication, streamlining rules and procedures, and using electronic transmission in place of paper documents and the mailbox. This increased access to information means that customer service representatives will be able to assist cardholders more quickly -- usually within one billing cycle. RED allows cardholders to get more precise and immediate information when they inquire about the status of their dispute. Eventually, some issuers will be able to offer their consumers access to their dispute resolution information online as well. In the past, consumers had to write a letter to their financial institution to dispute a charge. Under the changes that have been made to the system, in many instances cardholders can dispute a charge by phone, speeding up the process and saving them time. Visas transformation of the dispute resolution process was recently listed in InfoWorld magazines "Top 100 IT Visionaries." The magazine, in its November 10 issue, listed Visas "Web-based dispute resolution tool" among the top 100.