Visa Issuer Monitoring Program (VIMP)

The Visa Issuer Monitoring Program (VIMP) is an initiative launched by Visa to safeguard the integrity of its payment network by monitoring and curbing fraud rates among its issuers. This program is designed to identify issuing banks that exhibit higher than acceptable levels of fraudulent activities compared to legitimate transactions.

An issuing bank becomes a candidate for the VIMP if it meets specific criteria indicating a significant risk of fraud. These criteria include a ratio of fraudulent transactions to legitimate transactions that exceeds 1%, and when the total volume of fraudulent transactions surpasses $500,000. Banks that meet these thresholds are subjected to closer scrutiny and may face various enforcement actions aimed at mitigating fraud risks.

Once enrolled in VIMP, an issuer must implement corrective measures to reduce its fraud rates. These measures might involve enhancing fraud detection capabilities, revising risk management strategies, or improving the verification processes used during the card issuance and transaction phases.

The program not only helps in directly reducing fraud instances but also acts as a deterrent, encouraging all issuers within Visa’s network to maintain rigorous controls and adopt proactive fraud prevention strategies. This initiative reflects Visa's commitment to maintaining a secure and reliable payment environment, which is crucial for the confidence of both cardholders and merchants.