Visa International Operating Regulations

Visa Inc. is committed to providing our partners and interested parties with greater insight into Visa's operations. As part of our effort, we are pleased to provide access to the latest edition (dated 15 October 2013) of the Visa International Operating Regulations, which govern the participation of our financial institution clients in the Visa system.

To protect cardholders and merchants and maintain the integrity of the Visa system, we have omitted proprietary and competitive information, as well as certain details from the rules relating to the security of the network.

Any regional rules within the Visa International Operating Regulations apply only to the operations of financial institution clients within the relevant region, and any rules marked with the name of a region are applicable to financial institutions operating in that region only. In addition, please note that Visa Europe is a separate entity that is an exclusive licensee of Visa Inc.'s trademarks and technology in the European region and, as such, member financial institutions of Visa Europe are governed by the Operating Regulations of Visa Europe.

In November 2012, the United States District Court for the Eastern District of New York preliminarily approved a proposed settlement agreement in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. As part of this settlement, Visa is required to implement certain Visa International Operating Regulation rule changes, including the ability for merchants in the U.S. and U.S. territories to surcharge certain credit card transactions beginning 27 January 2013. The details regarding these rule changes may be accessed by clicking here: Operating Regulations to Support the U.S. Merchant Litigation Settlement.

If you have any questions about Visa's Operating Regulations, please contact us.