What is changing?
A new transaction limit for funds disbursement original credit transactions (OCT) has taken effect in lieu of Visa Europe migrating to the global VisaNet clearing system. The OCT limit has been reduced from EUR 80,000 to USD 50,000 (or the submitted currency equivalent).
What does the change mean?
Merchants that disburse funds to their customers/cardholders (i.e. MCC 7995-Gambling) will not be able to process a Visa OCT transaction which exceeds the amount equivalent to USD 50,000.
How will this affect you?
Merchants that process Visa OCT’s greater than USD 50,000, effective immediately, will experience rejects from Visa. This ultimately means the cardholders will not receive those funds and alternate arrangement will need to be made between the merchants and their respective customers.
9 March 2018