Visa said in a blog post this month that it will further delay previously announced U.S. interchange and fee changes for a year until April 2021.
Planned interchange reductions in the supermarket segment, however, will go forward.
“We believe this is the right decision to ensure the long-term stability of the digital payments ecosystem,” Visa said in a statement.
Visa is also delaying until April 2021 the requirement that gas station owners in the U.S. upgrade their payment terminals to take EMV chip and contactless payments.
“While we continue to believe EMV is the best way to decrease fraud, we recognize the supply chain and staffing challenges that are impacting the ability for gas station owners to complete the upgrade at this time,” reads the blog post.
Visa officials also noted in the post that the company has observed an increase in “disputed charges” between consumers, financial institutions and businesses, along with many merchants providing credits back to their customers’ Visa cards.
To support clients, Visa said it is waiving Covid-related dispute fees.