2024 updates to Visa's BPSP programme

Visa is making changes to rules relating to their BPSP program effective 13 April, 2024. The table below summarizes the main changes on how BPSPs will be required to operate.

Change	What this means for you
Consumer cards usage for Business Payments will be allowed until Apr 2027	From 13 Apr 2024 until Apr 2027, businesses will be allowed to use all types of consumer cards for business payments (i.e. payments will no longer be restricted to Visa Commercial cards) BPSPs must capture the buyer’s business registration number prior to allowing consumer card usage
Payment to non-card accepting suppliers and overseas suppliers	BPSPs would be allowed to pay to conditional acceptance suppliers (i.e. suppliers which accept card payments from limited B2B buyers, or suppliers whose card accepting status cannot be fully verified) BPSPs would be allowed to pay to a supplier outside of the buyer country provided that: BPSPs use a regulated overseas payment facility BPSPs provide a quarterly report to Visa of cross-border payments to suppliers Visa will levy a fee of 10bps/txn (capped at $2 USD/txn) for these cross-border payments Note that all BPSP transactions should remain domestic – i.e. Buyer is from the same country as the BPSP
Support for aggregated invoicing	Buyer’s card can be charged one time for multiple payments from the same supplier NOT allowed: Grouping payments from multiple buyers to pay single supplier Grouping payments from one buyer to multiple suppliers
MCC / Supplier type restrictions	Payments into Airlines, Auto Rental & Lodging MCCs are not allowed Consumer centric MCCs and High Brand Risk MCCs are not allowed Payments into following types will only be allowed if the Buyer provides a valid Business Identifier/Business ID or Taxpayer Identification Number (TIN) 4900 (Utilities – Electric, Gas, Water, and Sanitary) 6300 (Insurance Sales, Underwriting, and Premiums) 6513 (Real Estate Agents and Managers) 9311 (Tax Payments)
BPSP Reporting requirements	BPSPs will be required to directly submit the following reports to Visa via email: Monthly report: Transaction summaryBAU report for domestic payments Quarterly report: New report required only for BPSPs supporting overseas payments Annual report: Submit results from Visa’s Supplier Matching Service All reports are due on the 10th day of the following month (e.g. April monthly report is due on the 10-May. Annual reporting is due on 10-Oct) Please copy visa-bpsp@stripe.com in all report submissions to Visa Contact Stripe if you have not received your report templates
Bilateral Agreement between BPSPs and Visa	BPSPs will be required to sign a direct agreement with Visa before 12 Apr 2024 The Visa Supplier Matching Service (needed for the annual reports) is available in the Visa Online Portal, which can only be accessed by Visa partners

*Consumer centric MCCs include:

All designated unique airline and air carrier, car rental agency, and lodging MCCs, as specified in the Visa Merchant Data Standards Manual
4112 (Passenger Railways)
4411 (Steamship and Cruise Lines)
4722 (Travel Agencies and Tour Operators)
4723 (Package Tour Operators – Germany Only)
4814 (Telecommunication Services, including Local and Long-Distance Calls, Credit Card Calls, Calls Through Use of Magnetic-Stripe-Reading Telephones, and Fax Services)
4829 (Money Transfer)
4899 (Cable, Satellite, and Other Pay Television/Radio/Streaming Services)
5962 (Direct Marketing – Travel-Related Arrangement Services)
5966 (Direct Marketing – Outbound Telemarketing Merchant)
5967 (Direct Marketing – Inbound Teleservices Merchant)
6010 (Financial Institutions – Manual Cash Disbursements)
6012 (Financial Institutions – Merchandise, Services, and Debt Repayment)
6051 (Non-Financial Institutions – Foreign Currency, Liquid and Cryptocurrency Assets [for example: Cryptocurrency], Money Orders [Not Money Transfer], Account Funding [not Stored Value Load], Travelers Cheques, and Debt Repayment)
6211 (Security Brokers/Dealers)
7011 (Lodging – Hotels, Motels, Resorts, Central Reservation Services [Not Elsewhere Classified])
7012 (Timeshares)
7512 (Automobile Rental Agency)
8011 (Doctors and Physicians [Not Elsewhere Classified])
8050 (Nursing, Home Healthcare and Personal Care Facilities)
8062 (Hospitals)
8099 (Medical Services and Health Practitioners [Not Elsewhere Classified])
8211 (Elementary and Secondary Schools)
8220 (Colleges, Universities, Professional Schools, and Junior Colleges)
8241 (Correspondence Schools)
8244 (Business and Secretarial Schools)
8249 (Vocational and Trade Schools)
8299 (Schools and Educational Services [Not Elsewhere Classified])
8351 (Child Care Services)

**As specified in the Visa Integrity Risk Program Guide, High Risk MCCs include:

7273 Dating and Escort Services
7995 Gambling
4816 Cyberlockers and similar remote digital file-sharing services (card absent)
6051, 6012 Crypto Merchants: exchanges, wallet providers or on-ramp providers (card absent) with transactions required to use Special Condition Code 7
6211 High Integrity Risk Financial Trading Platforms (card absent)
5122, 5912 Pharmacies
5816 Games of Skill (card absent)
5966 Outbound Telemarketing (card absent)
5967 Adult Content
5968 Subscription “Negative Option” Merchants (card absent)
5993 Tobacco Sales (cross-border card absent)

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