By examining chargeback reason codes, merchants are able to see instructions in the working of their management. For an instance, there are various Visa chargeback reason codes that result from processing errors.
2. BY EXAMINING CHARGEBACK REASON CODES, MERCHANTS ARE ABLE TO SEE INSTRUCTIONS IN THE
WORKING OF THEIR MANAGEMENT. FOR AN INSTANCE, THERE ARE VARIOUS VISA CHARGEBACK
REASON CODES THAT RESULT FROM PROCESSING ERRORS.
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OF SOCIAL SCIENCES WWW.EUSS.EDU
3. LET’S HAVE A LOOK AT ONE PARTICULAR EXAMPLE: VISA REASON CODE 74
Chargeback Reason Code 74 is expressed when card issuer receives a transaction post 30 days limit and the
account is either closed or blocked on the date of chargeback processing date.
The transactions must be deposited in a proper manner that will allow timely payment processing and reflect on the
cardholders’ accounts. It is established that the cardholder would file a dispute and initiate a chargeback on the
transaction he/she doesn’t remember if it is outside the time frame and for say, a month old. There are no remedies
for chargebacks on the payments deposited more than 180 days after the transaction date.
Merchants must know the time frame for every transaction according to the every processor’s individual terms, but
in any case one should not wait longer than 180 days
4. COMMON CAUSES :
CHARGEBACK REASON CODE 74 IS ISSUED WHEN THE MERCHANT DOES NOT DEPOSIT THE
SALES RECEIPT WITH ITS MERCHANT ACCOUNT PROVIDER WITHIN THE TIME FRAME SPECIFIED
IN ITS PROCESSING AGREEMENT.
5. POSSIBLE RESPONSES TO
REASON CODE 74:
RESPOND BY PROVIDING THE TRANSACTION RECEIPT OR OTHER
DOCUMENTATION WITH A TRANSACTION DATE THAT DISPROVES LATE
PRESENTMENT.
IF SALES RECEIPT HAS BEEN DEPOSITED ON TIME, THEN THE MERCHANT CAN
CONTACT IT’S PROCESSOR AND ASK THEM TO FORWARD A COPY OF THE
RECEIPT TO THE CARD ISSUER.
IF THE MERCHANT HAS NOT DEPOSITED THE SALES RECEIPT WITHIN 10 TO
180 DAYS OF TRANSACTION DATE AND THE CARDHOLDERS ACCOUNT HAS
BEEN CLOSED, THEN ACCEPT THE CHARGEBACK.
IF THE SALES RECEIPT WAS DEPOSITED MORE THAN 180 DAYS AFTER THE
TRANSACTION DATE, THE CHARGEBACK IS VALID IRRESPECTIVE OF THE
CARDHOLDER’S ACCOUNT STATUS.
6. TIPS TO PREVENT CHARGEBACK
REASON CODE 74
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H E R E A R E S O M E G U I D E L I N E S T O F O L L O W
A N D P R E V E N T V I S A C H A R G E B A C K R E A S O N
C O D E 7 4
Deposit the sales receipt with the processor as soon
as possible.
Make sure deposits are made within the mentioned
time limit.
Capture transaction data with Point of Sale POS
terminal.
7. THANK YOU
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