Big Changes Ahead: What Visa’s New VAMP Program Means for Merchants.

The payments world is bracing for a major shakeup—and many merchants might not be ready for what’s coming. In this eye-opening episode, Matthew Steinbrecher of Sound Commerce (https://sound-commerce.com/) joins us to unpack Visa’s new Visa Acquirer Monitoring Program (VAMP), set to roll out on October 1st, and why it could impact nearly every corner of the payments ecosystem.

With over a decade in global payments, Matthew breaks down how VAMP will unify Visa’s separate monitoring programs into a single, streamlined system. But the biggest—and potentially most disruptive—change? Merchants will no longer be able to exclude proactive refunds from their chargeback ratios. For many, this has been a key tactic to stay under compliance thresholds.

As Christopher Dryden puts it, “Theoretically, based on what’s been published, that’s not going to happen any longer.” This seemingly small adjustment could have big consequences, especially for high-risk verticals like supplements, electronics, and other direct-to-consumer categories.
The discussion gets into real examples, including one disturbing case where a processor froze both incoming transactions and refund capabilities. The result? A self-fulfilling chargeback spiral—the merchant couldn’t resolve issues, leading to even more disputes.

Beyond the policy itself, we dive into what this all means in practice:

•What should merchants be doing now to prepare?
•Why is accurate, cross-platform data reporting more important than ever?
•And how can specialized payments ops teams help businesses stay ahead?

We also look at how acquirers and processors might respond—and the potential unintended ripple effects across the industry.

Whether you’re a merchant, ISO, acquirer, or payments professional, this episode delivers need-to-know insights and actionable advice. Don’t miss Matthew’s perspective on what smart players should be doing now to weather the VAMP storm.

**Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.**

Visit Global Legal Law Firm today: https://www.globallegallawfirm.com/

A payments podcast of Global Legal Law Firm

Caleb Avery's journey from selling payment terminals door-to-door as a college student to founding Tilled (https://www.tilled.com/), a revolutionary PayFac-as-a-Service platform, demonstrates the rapid evolution happening in the payments industry. In this fascinating conversation, Caleb shares James Huber of Global Legal Law Firm how his early experiences revealed small business owners' frustration with traditional payment processors, creating an opportunity for innovative solutions.

• Noticed small business owners were frustrated with experiences from big banks and processors
• Observed merchant needs evolving from simple terminals to integration with vertical software
• Began consulting for software platforms and noticed they were using Stripe and missing revenue opportunities
• Created Tilled to offer software companies a Stripe-like experience with better support and revenue generation
• PayFac-as-a-Service provides API-first approach with developer-friendly documentation similar to Stripe
• Helps agents and ISOs put their portfolios "on autopilot" by signing software platforms rather than individual merchants
• Seeing expansion into increasingly niche vertical markets with specialized software solutions
• Future direction includes moving beyond just payments to offer capital, banking, and disbursement solutions
• Multiple partnership models available from simple referrals to white-labeling to enterprise solutions

The real turning point came when Caleb noticed merchants increasingly asking about integration with vertical software platforms that offered features beyond just payment processing. After years consulting for software companies using Stripe, he recognized they were missing substantial revenue opportunities, which became the catalyst for creating Tilled.

What makes Tilled unique is its API-first approach, creating a developer-friendly experience that transforms technology from an obstacle into an asset during the sales process. This allows payment professionals to escape the grind of door-to-door merchant acquisition and instead focus on signing software platforms that can automatically grow their portfolios as they acquire new users.

Particularly intriguing is Caleb's perspective on the challenge facing traditional ISOs and agents. Rather than viewing the rise of vertical software as a threat, he positions it as an opportunity – albeit one requiring adaptation. Through multiple partnership models ranging from simple referrals to white-labeled solutions to enterprise integrations, Tilled provides pathways for payment professionals to transition into this new paradigm.

Looking forward, Caleb envisions an expansion beyond just embedded payments into comprehensive financial services ecosystems. As successful vertical software companies increasingly offer lending, banking, and disbursement solutions alongside payments, Tilled is positioning itself to provide these capabilities to mid-market platforms, creating multiple revenue streams for its partners.

For anyone working in payments or vertical software, this conversation offers crucial insights into industry trends and strategic opportunities that will shape the future of financial technology and merchant services.

**Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.**

Visit Global Legal Law Firm today: https://www.globallegallawfirm.com/

A payments podcast of Global Legal Law Firm

Riley Bangerter, founder of Aacadia Payments (https://aacadiapayments.net/), takes us on a fascinating journey through the evolving payment processing landscape, sharing his unique path from stockbroker to payment expert following the 2008 financial crisis.

• Entered the payments industry seeking residual income after the 2008 financial crisis collapsed his mortgage business
• Founded Aacadia Payments six years ago and partnered with Daryl Peppers to create a balanced leadership team
• Specializes in challenging verticals including coaching services and social media platforms
• Recently partnered with LegitScript to expedite certification for telehealth merchants from 8 months to 2 days
• Identifies poor customer service as the biggest challenge facing ISOs and payment processors
• Implemented AI across business operations for emails, marketing content, and customer communications
• Predicts metaverse commerce and augmented reality as the next frontier for payment processing
• Advocates for industry-wide efforts to eliminate fraudsters and bad actors who damage merchant relationships
• Emphasizes that payments should fuel business growth rather than drain margins

Drawing from his background in securities and mortgage industries, Riley offers a refreshing perspective on payment processing as a financial service, highlighting the surprising lack of licensing requirements despite merchants completing what are essentially credit applications. This regulatory gap creates opportunities for both innovation and abuse – a tension Riley navigates with transparency and long-term relationship building.

Aacadia Payments has carved out success in challenging verticals like coaching services and social media platforms by implementing thoughtful risk controls. Riley shares a compelling case study of a social media app where users purchase digital currency to gift influencers, detailing how they transformed a fraud-prone model into a sustainable business through strategic value adjustments and monitoring.

The conversation tackles significant industry challenges, from agent hopping to Visa's increasingly stringent surcharge enforcement. Riley reveals how Visa "secret shoppers" document non-compliant merchants with photographic evidence, sometimes resulting in thousand-dollar fines for minor infractions. His strategic partnership with LegitScript demonstrates Aacadia's commitment to legitimate merchants, reducing certification timelines from 8 months to just 2 days.

Looking toward the horizon, Riley predicts metaverse commerce and augmented reality platforms will become the next frontier for payment processing, drawing parallels to gaming giants like Roblox. He details how Aacadia embraces AI across all business operations – from customer communications to marketing content – giving listeners practical examples of technology implementation that delivers real results.

What makes this conversation truly valuable is Riley's passionate call for industry collaboration. "Payments should fuel growth, not drain margins," he emphasizes, advocating for transparency, education, and removing bad actors who damage merchant relationships. Connect with Riley and learn more about Aacadia Payments at AacadiaPayments.net.

**Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.**

Visit Global Legal Law Firm today: https://www.globallegallawfirm.com/

A payments podcast of Global Legal Law Firm