My Merchant Account Blog
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Chargeback
Monday, March 07, 2011
When a cardholder's bank (issuer) reverses all or part of a card transaction back to the merchant bank (acquirer), which typically kicks the transaction back to the merchant's account, leaving the merchant financially liable for the payment and subject to fines.
Chargebacks can be initiated by customers or by cardholders' banks (for example, due to procedural errors). Chargeback Ratios that exceed 1 percent of monthly sales generally are considered excessive.
Types of Chargebacks
Chargebacks are currently divided into
- Non Receipt of Goods or Services Chargeback Codes
- Cancelled or Returned Chargeback Codes
- Authorization Error Codes for Chargebacks
- Fraud Codes for Chargebacks
- Non Receipt of Information Chargebacks
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My Merchant Account Blog Recent Entries
- Visa Chargeback Reason Code 75 - Transaction Not Recognized
- Visa Chargeback Reason Code 74 - Late Presentment
- Visa Chargeback Reason Code 73 - Expired Card
- Visa Chargeback Reason Code 72 - No Authorization
- Visa Chargeback Reason Code 71 - Declined Authorization
- Visa Chargeback Reason Code 62 - Counterfeit Transaction
- Visa Chargeback Reason Code 60 - Illegible Fulfillment
- Visa Chargeback Reason Code 57 - Fraudulent Multiple Transactions
- Visa Chargeback Reason Code 41 - Cancelled Recurring Transaction
- PCI Compliance - A Review of Consumer Benefits
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