Visa VAMP 2026: thresholds, fees and dates in Brazil
VAMP takes effect in Brazil on October 1, 2026, and billing starts in January 2027. Tier thresholds, per-occurrence fees, and which party each rule binds.
The practical takeaway is straightforward: starting October 1, 2026, reported fraud and processed disputes from card-not-present transactions will feed a single ratio in Brazil. Each merchant contributes to its sponsoring acquirer’s portfolio ratio, and Visa identifies the acquirer on the portfolio result and the merchant on the individual threshold. From October through December, the program will be advisory and no fees will be charged. Enforcement and billing begin in January 2027.
Source: Visa Business News, July 21, 2026, ID AI16637.
What is VAMP, and what changed?
The Visa Acquirer Monitoring Program (VAMP) monitors the quality of acquiring portfolios. The Brazilian version combines the previous VAMP, the Visa Fraud Monitoring Program (VFMP), and the Visa Dispute Monitoring Program (VDMP). Its ratio counts fraud and disputes from domestic and cross-border card-not-present (CNP) transactions processed through VisaNet. The VFMP for card-present transactions remains active and unchanged.
Visa no longer looks only at isolated cases after they cross a threshold. The program continuously monitors the acquirer’s portfolio, each merchant, and signs of enumerationAutomated attempts to discover valid card details through approved and declined authorization requests. This pattern can cause the acquirer to be identified in the program, even when the enumerated volume originates at a single merchant.. Any one of these three paths can identify the acquirer in the program on its own.
Source: Visa Acquirer Monitoring Program Overview — fact sheet, 2025; Visa Perspectives, October 9, 2025.
The parties are measured differently. Visa identifies the acquirer at the portfolio tiers and the merchant at the individual threshold.
Source: Visa Business News, July 21, 2026, ID AI16637.
That is where each reader sits. The acquirer is the entity identified when its portfolio crosses one of the first three tiers; the merchant is the entity identified when it crosses the individual threshold. A sub-acquirer is not identified under either criterion: its activity is counted in its sponsor’s portfolio, and if one of its merchants reaches the individual threshold, Visa identifies that merchant as well. When a sub-acquirer works with more than one acquirer, each relationship requires a separate calculation. Any cost reaches the sub-acquirer through its contract with the sponsor, not through a direct Visa charge.
Mastercard is moving in a different direction: GMAP is suspended until further notice, even though obligations for acquirers and Payment Facilitators to monitor merchants have expanded.
Source: Mastercard Security Rules and Procedures — Merchant Edition, August 4, 2026; Mastercard Rules, June 2, 2026.
How is the VAMP ratio calculated?
The formula counts occurrences; it does not measure their value in BRL. On VisaNet, TC40A VisaNet technical record used to report fraud to Visa. It enters the VAMP numerator. records reported fraud; TC15A VisaNet technical record for a processed dispute. It counts even if the merchant wins. records a processed dispute; and TC05A VisaNet technical record for a settled transaction. It forms the ratio’s denominator. records a settled transaction. The relationship is:
VAMP ratio equals TC40 count plus TC15 count, divided by TC05 count.
60 bps 0.60%
- Numerator (TC40 + TC15)
- 12,000
- Floor of 1,500 monthly occurrences
- met
- Identification
- Above Standard
- Fee per occurrence
- BRL 26.00
Identified: Above Standard. The ratio is inside the band and the numerator meets the floor of 1,500 monthly occurrences.
The ratio also reaches the 150 bps Merchant Excessive threshold — a threshold that measures one merchant, not the portfolio. It is cumulative in the same way: without the 1,500 monthly occurrences there is no identification at that threshold either.
| Tier | Unit evaluated | Monthly ratio | Fee per occurrence |
|---|---|---|---|
| Early Warning | Acquirer portfolio | ≥ 40 and < 50 bps | No fee |
| Above Standard | Acquirer portfolio | ≥ 50 and < 70 bps | BRL 26.00 |
| Excessive | Acquirer portfolio | ≥ 70 bps | BRL 52.00 |
| Merchant Excessive | Merchant | ≥ 150 bps | BRL 52.00 |
A simulation over published thresholds (Visa Business News, July 21, 2026, ID AI16637). It is not an official Visa calculation. Visa identifies the acquirer, by portfolio, and the merchant, by the individual threshold: a sub-acquirer is not the identified entity, and its counts are carried in each sponsoring acquirer’s portfolio. The fee is per occurrence and the billable base is not public, which is why nothing here is multiplied.
Want to check these counts against your own operation?
Source: Visa Business News, July 21, 2026, ID AI16637.
The result is expressed in bpsBps means basis points: 1 bp = 0.01%. They are the unit used to compare the ratio with each program threshold.. A ratio of 50 bps equals 0.50%, or five fraud or dispute occurrences for every thousand settled transactions.
What goes into the numerator
The numerator is not limited to fraud chargebacks. It adds TC40 and TC15. Commercial disputes, processing problems, and other dispute reasons can therefore worsen the ratio even when fraud is under control.
Two rules change the operational decision:
- A processed dispute counts even when the merchant wins. A successful defense may recover the funds, but it does not remove the TC15 from the ratio.
- 3DS can reduce fraud, but it does not erase TC40. Reported fraud counts even when financial liability has shifted.
Source: Visa Business News, July 21, 2026, ID AI16637.
What’s excluded from the calculation
There are exactly two published exclusions. For both, the timing of the data extract determines whether the occurrence remains in the numerator:
- A dispute resolved in pre-dispute. If a solution such as RDRRapid Dispute Resolution. It is a pre-dispute solution that can resolve a case before it consolidates as TC15. closes the case before it consolidates as TC15 in the relevant extract, the occurrence is excluded.
- TC40 fraud qualified for CE 3.0Compelling Evidence 3.0. When TC40 fraud qualifies, it can be excluded from the numerator based on the timing of the extract.. A qualifying TC40 occurrence may be excluded based on the timing of the extract.
Source: Visa Business News, July 21, 2026, ID AI16637; Visa Acquirer Monitoring Program Overview — fact sheet, 2025.
Pre-dispute resolution and defense produce different results. Resolving a case before TC15 can reduce the numerator. Winning after processing recovers money but does not change the count.
When does VAMP start applying in Brazil?
The global fact sheet said programs for Brazil, Chile, and India would be announced later; Visa Business News of July 21, 2026 locked in the Brazilian dates. The fourth quarter of 2026 is the preparation window:
- October 1, 2026 — the VAMP updates take effect in Brazil.
- October 1 through December 31, 2026 — advisory period: identifications occur, but no fees are charged.
- January 2027 — enforcement and billing begin.
Source: Visa Business News, July 21, 2026, ID AI16637.
On the first identification within a rolling 12-month window, the entity receives three months for remediation. After that period, an additional identification may result in a fee.
In practice, all three reconcile counts during the advisory period, before occurrences carry a price: the acquirer closes its own portfolio number, the sub-acquirer checks its share with each sponsor, and the merchant checks its TC40, TC15, and TC05 with whoever boards it.
What are the thresholds and fees in Brazil?
Brazil has four tiers. The first three measure the acquirer’s portfolio. The last measures an individual merchant.
| Tier | Unit evaluated | Monthly VAMP ratio | Fee per occurrence |
|---|---|---|---|
| Early Warning | Acquirer portfolio | ≥ 40 and < 50 bps | No fee |
| Above Standard | Acquirer portfolio | ≥ 50 and < 70 bps | BRL 26.00 |
| Excessive | Acquirer portfolio | ≥ 70 bps | BRL 52.00 |
| Merchant Excessive | Merchant | ≥ 150 bps | BRL 52.00 |
Source: Visa Business News, July 21, 2026, ID AI16637.
Identification at any tier requires all of that tier’s requirements. The entity must reach the ratio band and meet the floor of 1,500 monthly TC40 and TC15 occurrences combined in dispute categories 10 through 13. A high ratio below that absolute volume is not enough.
The 150 bps individual threshold does not by itself determine when a merchant generates cost. A fee attributable to the merchant can apply below it, but only when all three requirements are met:
- The acquirer is identified in the program.
- The merchant has a ratio of at least 50 bps.
- The merchant has a VAMP count of at least 5.
Source: Visa Business News, July 21, 2026, ID AI16637.
A merchant at 60 bps with a VAMP count of at least 5 can therefore generate a fee when it sits in the portfolio of an acquirer already identified in the program. The merchant does not need to reach 150 bps.
How do Brazil’s thresholds compare to other regions?
Published thresholds from other regions put Brazil’s thresholds in context:
| Scope | Tier | Threshold |
|---|---|---|
| Acquirer portfolio | Above Standard | ≥ 50 bps |
| Acquirer portfolio | Excessive | ≥ 70 bps |
| Merchant — Latin America and Caribbean | Excessive | ≥ 150 bps |
| Merchant — AP, Canada, EU and US | Excessive | ≥ 150 bps (since April 1, 2026) |
| Merchant — CEMEA | Excessive | ≥ 220 bps |
| Enumeration | Identification | ≥ 20% and ≥ 300,000 enumerated transactions |
Source: Visa Acquirer Monitoring Program Overview — fact sheet, 2025.
The percentage threshold never stands alone. Both portfolio tiers also require a minimum monthly occurrence volume that varies by region: at least 1,500 in AP, Canada, the European Union, and the United States. For a merchant in Latin America and the Caribbean, identification requires 150 bps and at least 1,500 monthly occurrences. In AP, Canada, the European Union, and the United States, it requires 150 bps since April 1, 2026 and at least 1,500 occurrences. In CEMEA, all three requirements apply: 220 bps, at least 150 occurrences, and a minimum value of USD 75,000.
Brazil’s portfolio thresholds of 50 and 70 bps and merchant threshold of 150 bps match those published for Latin America and the Caribbean and for AP, Canada, the European Union, and the United States. CEMEA keeps the higher individual threshold of 220 bps. The Brazilian table also formalizes Early Warning between 40 and 50 bps.
For enumeration, the global rule requires all requirements: a ratio of at least 20% and at least 300,000 enumerated transactions. The criterion’s exact operational application in Brazil remains TO BE CONFIRMED because the Visa Business News summary does not detail it.
Source: Visa Acquirer Monitoring Program Overview — fact sheet, 2025; Visa Business News, July 21, 2026, ID AI16637.
How does an apparently healthy portfolio cross the threshold?
A portfolio can be identified without one merchant accounting for the entire problem. The simulation below uses fictional numbers to show the mechanics. It does not represent a client or a market projection.
An acquiring portfolio processes 2,000,000 settled CNP transactions in a month, combining direct merchants and merchants boarded through sponsored sub-acquirers. The month includes 5,000 TC40 fraud records and 7,000 processed TC15 disputes:
- Numerator = 5,000 + 7,000 = 12,000
- VAMP ratio = 12,000 ÷ 2,000,000 = 0.60% = 60 bps
Under the Brazilian table, 60 bps falls in the Above Standard band of at least 50 but below 70 bps. The aggregate portfolio result is enough. No merchant needs to cross the individual threshold on its own.
If occurrences rise to 14,400 at the same transaction volume, the ratio reaches 72 bps, the Excessive band. Breaking down the numerator shows where to act:
| Merchant | Occurrences in the month |
|---|---|
| Merchant A | 3,200 |
| Merchant B | 2,100 |
| Merchant C | 1,400 |
| Remaining merchants | 7,700 |
| Total | 14,400 |
The three largest merchants account for 6,700 occurrences, or 46.5% of the numerator. Almost half of the deterioration comes from three merchants. Who acts depends on the party: the acquirer works the portfolio’s largest contributors, the sub-acquirer works the ones inside its own book, and each merchant works the root cause of its own occurrences — instead of tightening the entire portfolio without distinction.
The table confirms the unit price: BRL 26.00 per occurrence at Above Standard and BRL 52.00 at Excessive, with billing from January 2027. We do not multiply those amounts by the numerator. Which occurrences enter the billable base, at what point in the chain, and with which abatements remains TO BE CONFIRMED. Those details belong to the VAMP Program Guide and the contract with the acquirer. Calculating a total without that basis would create precision the available source does not support.
Source: Visa Business News, July 21, 2026, ID AI16637.
What does each party need to do differently?
The central change is to spot who is pushing the portfolio toward a threshold before the portfolio is identified. The identified entity is always the acquirer or the merchant, but the actions below belong to all three links in the chain, each with its owner:
- Gather TC40 and TC15 for every acquiring relationship. The acquirer already holds them for its own portfolio; the sub-acquirer has to request them from each sponsor, and the merchant from whoever boards it. Each relationship produces a separate calculation.
- Calculate (TC40 + TC15) ÷ TC05 monthly. The acquirer calculates the whole portfolio, the sub-acquirer its share within each sponsor, and the merchant its own ratio. In every case, set the internal alert below the 40 bps Early Warning threshold.
- Measure contribution to the portfolio. This belongs to whoever aggregates a book — the acquirer and the sub-acquirer. The merchant adding the most occurrences to the numerator does not always have the worst individual ratio.
- Evaluate pre-dispute and CE 3.0 eligibility. This applies to all three: they are the two published exclusions from the numerator, depending on the timing of the extract.
- Reduce a dispute before it becomes TC15. This applies to all three as well. After processing, winning recovers money but does not remove the occurrence.
- Define containment triggers before they are imposed. Reserves, volume limits, quarantine, 3DS requirements, onboarding suspension, and merchant termination are pulled by whoever carries the book — the acquirer over sub-acquirers and merchants, the sub-acquirer over the merchants in its own portfolio. The merchant’s job is to know which of those triggers its contract already allows against it.
The window is already defined: validate TC40, TC15, and TC05 in every relationship between October and December 2026, while no fees are charged. In January 2027, the same discrepancy may already affect billing.
What happens when a portfolio is identified in the program?
Visa applies the fees for the relevant tier and requires remediation from the identified entity: the acquirer at the portfolio tiers, the merchant at the individual threshold. From there the effect travels down the chain by contract — the sponsoring acquirer decides how to address a sub-acquirer’s or a merchant’s contribution under its own risk appetite, and the sub-acquirer does the same with the merchants in its portfolio.
Source: Visa Business News, July 21, 2026, ID AI16637; Visa Acquirer Monitoring Program Overview — fact sheet, 2025.
Depending on the contract, the acquirer may take at least one of these measures:
- require an action plan;
- tighten monitoring;
- reduce limits;
- increase the reserve;
- restrict MCCs or merchants;
- suspend onboarding;
- terminate merchants.
These measures are not automatic Visa penalties. Concentration widens the exposure of whoever sits below: a sub-acquirer with a single sponsor and a merchant with a single acquirer both feel one contractual decision across a larger share of their operation.
What’s still to be confirmed?
The confirmed facts for Brazil do not need caveats. The following points, however, remain TO BE CONFIRMED:
- Brazilian application of the enumeration criterion. The Visa Business News summary does not detail its local operation.
- Fine-grained incidence of the fees. The billable base, the point in the chain, and any abatements are not detailed in the available source.
- Segmentation within the portfolio. It is not confirmed whether an intermediate attribution by sub-acquirer, MID, or another identifier exists or how it would be reported.
- Assessment amounts outside the published Brazilian table. No additional amount should be stated based on secondary material.
The VAMP Program Guide and Visa’s formal communications remain the official reference. This article does not replace them.
Your operation does not need to wait for those confirmations to act. It can already calculate (TC40 + TC15) ÷ TC05 for each acquirer, each month, and break the result down by merchant. If it cannot, that is the gap to close before October. The question for the next risk committee is direct: which five merchants add the most occurrences to our numerator today?
Sources
- Visa Business News, July 21, 2026 — article ID AI16637 (communication on VAMP in Brazil: effective date, advisory period, tiers, and fees).
- Visa Acquirer Monitoring Program Overview — public Visa fact sheet (2025).
- Introducing the Visa Acquirer Monitoring Program — Visa Perspectives, August 30, 2024.
- Modernizing payment security: Evolving the Visa Acquirer Monitoring Program — Visa Perspectives, October 9, 2025.
- What’s possible when the payments ecosystem moves together on security — Visa Perspectives, March 12, 2026.
- Mastercard Security Rules and Procedures — Merchant Edition, August 4, 2026.
- Mastercard Rules, June 2, 2026.