TC40 (TC40 Data Report)

The TC40 data report is a critical tool in the payment card industry used by issuing banks to inform Visa of claims of fraud reported by cardholders. This report serves as a formal notification to Visa about potential fraudulent transactions that have occurred using its network. The purpose of the TC40 report is to aggregate and analyze data regarding fraudulent activity, allowing Visa and its associated financial institutions to identify and mitigate fraud risks more effectively.

Each TC40 report includes detailed information about the incident of fraud, such as the identity of the merchant involved, details of the issuing and acquiring banks, and specific transaction data. This information helps Visa to track and understand the patterns of fraud across its network, aiding in the development of more robust fraud prevention strategies.

However, it's important to note that access to TC40 data for merchants is not straightforward. While this data can be incredibly valuable for merchants to understand and combat fraud against their businesses, it is typically available only through their acquiring banks. Acquiring banks may choose to share this information with merchants to help them identify vulnerabilities and prevent future fraudulent activities. The sharing of TC40 data is at the discretion of the acquiring bank and is influenced by their policies on data privacy and the nature of their relationship with the merchant.

In summary, the TC40 data report is an essential component of the fraud detection and prevention ecosystem in the card payment industry, providing key insights that help protect both consumers and merchants from fraudulent transactions.