Once transactions encoded with "life-cycle" identification numbers begin following through the VisaNet system next April, Visa will begin gearing up for the launch of a new phase of PaymentService 2000.

Starting August 28, 1993, Visa will begin accumulating a central database containing a rolling six-month history of PS2000 transactions. This will enable Visa to eliminate tens of thousands of invalid chargebacks without unnecessary member involvement. In fact, the goal is to completely eliminate all invalid exceptions by 1995.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.