Reference
Visa VAMP: thresholds, fees, and what feeds the ratio.
Visa's Acquirer Monitoring Program combines fraud reports and disputes into a single ratio and escalates on it. Thresholds have tightened twice since enforcement began in October 2025. This page is the current state of the programme, and where a proof layer changes the arithmetic.
Last reviewed: August 2026
The formula
How the ratio is calculated
VAMP ratio = (count of reported fraudulent transactions [TC40] + count of non-fraud disputes [TC15]) divided by the count of total settled card-not-present transactions. Card-present volume is excluded. A single transaction can generate both a TC40 fraud report and a TC15 dispute, counting twice against the ratio.
Current state
Thresholds and enforcement fees
| Party | Tier | Threshold, fee and effective date |
|---|---|---|
| Merchant | excessive | 1.5% ratio, $8 per count, in effect since 1 April 2026, reduced from 2.2% |
| Acquirer | above standard | 0.5% ratio, $4 per count, in effect since 1 January 2026 |
| Acquirer | excessive | 0.7% ratio, $8 per count |
| Acquirer | early warning | below 0.3%, no fee |
Figures current as of 31 August 2026. Source: Visa VAMP program rules.
Merchant enrollment also requires a minimum of 1,500 fraud and dispute events in a single month. A first breach within a rolling twelve months carries a three-month grace period before enrollment takes effect.
Why it's hard
Both halves of the ratio sit outside your control
Fraud reports come from the issuer. Disputes come from the cardholder - and where the dispute is friendly fraud, the merchant has no evidence to contest it with. Tightening screening reduces the fraud half and costs conversion. It does nothing about the other half, which is the half that is growing.
What changes with proof
Where Nulliti changes the arithmetic
- A stolen number or token can't transact without the bound cardholder's biometric, which reduces the TC40 fraud count directly.
- Friendly-fraud disputes are met with a signed record of who approved the payment, so more of them are reversed rather than absorbed.
- Representment stops depending on shipping logs and screenshots of a terms page.
- It sits on top of the processor and gateway already in place, so nothing about the boarding relationship changes.