Visa Puts Clamp on Cross Sales

[tickler]

A lot of sponsors aren't going to like this!

And a quicky May 1 deadline also.

Online companies will no longer be able to allow third parties to charge a customer's card without the card owner re-entering credit card information, Visa said Tuesday.

Visa says that such marketing can result in "high levels of consumer disputes and degrades the efficiency, reliability and security of the payment system." It said that 35 million consumers have paid $1.4 billion for such marketing offers.

Visa's new requirement is designed to send a "clear signal to cardholders that a second purchase is being initiated and protects them from questionable marketing practices," the company said in a statement.
http://www.xbiznewswire.com/view.php?id=120013

Visa press release
http://corporate.visa.com/media-cent.../press1011.jsp