The merchant's evidence must demonstrate that this claim is false. In the distribution industry,. The networks say merchants have a 45-day response window, but the Chase credit card chargeback time limit for merchants is 39 days. Step 1: The cardholder disputes a charge. For more information on these and other updates, check out our complete chargeback reason. 103. In the normal chargeback notification process, it can take 2-5 weeks to be notified. prenotification of chargeback, depending on the chargeback reason code, to the agency requesting additional documentation to properly dispute and remedy the chargeback. Specifically, it has introduced a Compelling Evidence requirement for disputes falling under the Visa CE/30 chargeback reason code. Note that these limits apply only to the issuer and/or cardholder; acquiring banks and merchants have a set time limit of 45 days to respond to each phase. txt) or read online for free. There is a USD 25 limit for the First Chargeback (Reason Code 22). Everything You Need to Know (2023) Shopify POS has everything you need to sell in person, backed by everything you need to sell online. What are chargeback reason codes? Mike Conway 2021-03-04T20:56:54+00:00. 0 rule changes take effect April 15,. There are also third-party tools available to conduct advanced analysis. Here’s how your store can prevent and deal with chargebacks. If you've determined the chargeback is meritless, and you know the reason code, below are the five stages of an effective chargeback representment. Chargeback reason codes. Reason codes are alphanumeric strings of text provided in a chargeback notification as a means of explaining the cause for the dispute. Tips for an effective chargeback return policy. It’s typical to see fraud chargebacks roll in 2-3 months after the initial charges took place. If the order was genuinely not as described, then the cardholder has a case. Visa Chargeback Reason Codes are divided into six general groups, with 22 subcategories (codes): 1. It also delivers an improved customer experience. Assemble Your Evidence. Submitted: The response has been sent and the issuer is. EMV Liability Shift Non-Counterfeit Fraud. com Europe. These codes are established by the payment brands to categorize the incoming dispute requests by reason. Collect Compelling Evidence. Even if the. During this process, the representative of the institution examines the reasons’ list. Chargeback fees make up a big chunk of the total costs, so we’re going to take a. Paymentology will submit the chargeback using the appropriate chargeback reason code. Expired Chargeback Protection Period. MASTERCARD Reason Code Description 01 Requested Transaction Data Not Received. The system does not accept Blank as a value, even if it is defined in the UDC table. Other Fraud—Card Present Environment. Read on for the complete guide to dealing with chargebacks. Payment capture comes after authorization; at this point, the payment is effectively "settled," and the transaction is over. Solutions. 800. 4 spec (Section 8. On the other hand, PayPal—which can serve as a credit card processor for merchants—allows buyers up to 180 days to file a claim. A reason code helps explain why a transaction was disputed. 4808 Authorization-Related Chargeback. The list of chargeback reason codes in this article. On that note, below are some vendor missteps that could result in Visa reason code 13. American Express chargeback reason codes are divided into five categories: authorization, cardmember disputes, fraud, processing errors, and miscellaneous. A chargeback also cannot be filed more than 540 days beyond the point at which the interaction began. MasterCard does not have an equivalent reason code. Reason Code 11. Updated Disputes/Chargeback Policy Coming April 2024These codes explain the reason why the chargeback was filed, and the reason the chargeback was approved. Depending on the specific situation, Mastercard will match authorization response to one of the following merchant advice codes: Mastercard Response Code. 2. Discover: Reason Code 4755 Non-receipt of goods or services. Get your complete guide to the new Visa reason codes, including all the detailed information, chargeback time limits, and other important information you need. Across open networks and include account numbers sent over email, instant messaging, text, or chat. Info Us; In and. Discover chargeback Reason code RN/RN2 is applied when issuing bank gets a notice from the card owner that merchandise was returned, but merchant hasn’t refunded, and. Reason. Identify issues within 24 hours of a cardholder dispute, rather than waiting. Protect stored cardholder data. For educational purposes, here is an overview of the general chargeback process with most major processors: Step 1: A purchase occurs – All chargebacks start with a customer making a purchase, either in-person, in-app or online. 4853 – Cardholder Dispute – Credit Not Processed. The cardholder claims that an expected credit from the merchant was not received. Specify the default reason code to. 1 = EMV-Liability Shift counterfeit. Each time a consumer files a chargeback, the merchant is hit with a fee ranging from $20 to $100 per transaction. 1. As expected, chargeback reason codes exemplified consumer sentiment. A customer will go straight through their bank to initiate a chargeback. These chargebacks occur to resolve chargeback-related disputes between network members. When a cardholder makes a purchase, but regrets it later, they may file a chargeback to recoup their money. A chargeback attempt may fail if there is not a valid reason for it, and card issuers are unable to force a merchant’s bank to refund credit card payments. Step 1: Identify the Source. Common Point of Purchase: Data stolen from a merchant’s system is used to make fraudulent transactions. Chargeback Reason Codes by Network - 2023 Guide. You must tailor your representment case — including the compelling evidence — to the reason code under. There are two parts to this. 5, 53, C31, C32, RM. Global chargeback volume topped 615 million cases in 2021, and was estimated to cost merchants nearly $117 billion in revenue. What is Visa chargeback reason code 13. . 10. M49 Vehicle Rental – Theft or Loss of Use. But friendly fraud is much more ambiguous. Processing recurring payments increases your susceptibility to chargebacks. Chargeback Reason Codes Fraud – Card-Not-Present (CNP) Network Reason Code Bank Initiation Timeframe Accel 81 120 calendar days from transaction processing date American Express FR2, F14, F24, F29 120 calendar days from transaction processing date Discover 4752 AA, 7030 UA02 Within 30 calendar days from the close date of the TRRA chargeback happens when a customer asks their card-issuing bank to reverse a transaction. Issued the credit but did not deposit it with its processing bank in time for it to appear on the cardholder’s next statement. It’s a 3-digit alphanumeric shorthand attached to a returned ACH transaction explaining why an ACH transfer is reversed. In this instance, the cardholder claims a misrepresentation of the order they received, such as a defect, damage, counterfeit, or incomplete merchandise. Reason Card Type Reason Code Description Merchant Action Code This chargeback occurs because of a dispute on an Airline sale involving allegedly fraudulent card transactions. The assigned chargeback reason code outlines why a customer submitted the dispute. Save finalize leaders includes the chargeback good codes off each of the four major card networks. 2. Card Brand Code. T01: We have provided proof that the ticket(s) were. M10 Vehicle Rental – Capital Damages. 3. 4812 Account Number Not On File. Click the Update Chargeback link to edit the chargeback details. Most acquiring banks put a timeframe on when customers can initiate a chargeback for a purchase. Key-in your chargeback reason code and get a detailed explanation of what it means, how to fight the chargeback, and how to prevent disputes in the future. Which is meant to know the reason for the dispute. List and additional information about all reason codes by card brand. It depends on the chargeback reason code associated with the dispute. Visa chargeback reason codes are used to categorize the reasons for a chargeback. 3. The chargeback initially results in the debit or credit card charge being reversed and the funds that you received for the payment being returned to the customer. A few reason codes allow for shorter timeframes. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. ”. As a merchant, your focus should be on finding and retaining customers--not chargebacks. Reason code 53 is typically used when a cardholder received merchandise or service that was defective, damaged, or not as described, while reason code 85 is used when credit was not processed to the. The chargeback is ordered by the bank that issued the consumer's payment card. Every chargeback has a reason code associated with it. 1 Quick Reference Lead. American Express reason code 155, Visa reason code 30, MasterCard reason code 4855, and Discover reason code 4755 are all specific reason codes for Shopify payment chargebacks. Get your complete guide to the new Visa reason codes, including all the detailed information, chargeback time limits, and other important information you need. Use order validation and prevention alerts. MasterCard: Reason Code 4859 Services not rendered. But cardholders and merchants have different time limits. 5 Categories of Visa Chargeback Reason Codes. Most acquiring banks put a timeframe on when customers can initiate a chargeback for a purchase. Most reason codes apply to any merchant, regardless of what’s being sold. See the list of reason codes below: Card Network. With the implementation of Visa Claims Resolution, reason code 98 eventually became obsolete. Chargeback Reason Coded by Network - 2023 Guide. There are a number of chargeback reason codes that are dedicated specifically to transaction errors. An issuer can initiate a first chargeback when the circumstances of the transaction meet the requirement of a chargeback reason code described in the Chargeback Guide. 1. Chargeback Reason Codes by Mesh - 2023 Guide. ACH return codes are a type of shorthand for specific information concerning the return, much like the card decline codes or dispute reason codes used by credit card networks. a) Code 75 (Cardholder Does Not. Please note that the most common Chargeback reason code for Allocation disputes is 10. If you receive a chargeback under Reason Code 85, you will need to provide evidence that the credit was processed in order to dispute the chargeback. 6). 104. 2. Stage 1: First Chargeback. May 2011: 5. Read the Chargeback Advice letter carefully. Stage #1: Awareness - be aware of the chargeback response time limitThe standard chargeback process involves eight steps: Retrieval request: The card-issuing bank requests that the acquiring bank provide additional information for a given transaction. Reason Code. 0: Updated report version from 1. Consider Deadlines. Through 2021, we. Consult the applicable network’s guidelines for examples of acceptable compelling evidence. Visa Chargeback Life Cycle. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. paper processing and mailing costs. Analyze your chargeback data. The reason code indicates the justification the cardholder gave for the chargeback. 6, 13. All chargebacks start with a customer making a purchase in person, in an app, or online. 1: Use the corresponding dates from the invoice. for chargeback reason code 4863 (Cardholder Does Not Recognize). 4807 Warning Bulletin File (use Code 4805) 4812 Account Number Not on File (use Code 4805) 4859 No Show / Addendum / ATM Dispute (use Code 4853) 4860 Credit Not Processed (use Code 4853) Chargeback reason codes can be confusing, especially since each card network has their own designations. The number of in-person fraud attacks attempted in the UK has dropped by 69% since 2004. Reason Code 05. UA02 – Fraud:. S. Mastercard Chargeback Reason Code 70: Chip Liability Shift. Discover uses the four main categories to organize its reason codes: Authorization, Service (Discover’s name for Card Member Disputes), Fraud, and Processing Errors. Managing Reason Code 57 chargebacks. That’s 50% more time than what the major card networks allow. The following is a full list of Chargeback Reason Codes for the card schemes that Zai supports. Reason Code 03. MASTERCARD Reason Code Description 01 Requested Transaction Data Not Received 02 Requested\Required information illegible or missing 07 Warning Bulletin File 08 Requested\Required authorization not obtained 12 Account number not on file 31 Transaction amount differs 34 Duplicate Processing Know these five rules to avoid payroll blunders triggering fines, penalties and IRS audits. That said, looking up purchases using this number can make it easier to provide info following an. 0. Visa chargeback reason codes. United States. This ranges anywhere from roughly 60 to 90 days after purchase. So the company has more incentive to side with customer during cardholder disputes. In particular, one of. Everyone from processors and card brands to local and federal governments has rules about how payments should be handled. Write Off Reason Code . 7, 60, C02, RN2. 0 to 5. AT Authorization Noncompliance. Step 2: Customer initiates the chargeback – After the customer reviews their credit card statement at the. Reason codes differ by card brand (Visa, Mastercard); a complete list can be found here. Reasons a customer may initiate a chargeback include: Ordering a product and not receiving it. For a Mastercard late presentment chargeback to be valid, all the following conditions must apply: The cardholder’s account must be permanently closed. Code 81. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. R03 Insufficient Reply. VCR tables (Figures 1 and 2) map the old Reason Code to its new Reason Code. Switch to Visa MasterCard American Express Discover. Chargeback reason code 11. A credit card chargeback is when a bank returns money to you because a credit card charge was fraudulent or you bought something online that wasn’t delivered or was. M10 Vehicle Rental – Capital Damages. This code applies when valid authorization for a transaction was required but not obtained, and the merchant processed the transaction anyway. To subscribe and learn more about the free online chargeback management system, or contact Chase Paymentech Client Services at 1. Other Fraud—Card Absent Environment. In order to identify the reason a customer disputed a charge, it can be helpful to examine the reason code on the chargeback. Chargeback reason codes identify the general reason behind a chargeback. A02 No Valid Authorization. Try Shopify free for 3 days, no credit card required. With an eCommerce transaction, 3-D Secure technology works like an online PIN code. 1 Card Recovery Bulletin or Exception File. 4 applies to eCommerce, whereas code 10. What is a chargeback time limit? The chargeback response. 2 for Visa and Reason Code 4850 for Mastercard). Write Off Reason Code . FR4 Immediate Chargeback Program. Try Shopify free for 3 days, no credit card required. for chargeback reason code 4863 (Cardholder Does Not Recognize). Not recognizing your billing descriptor on a statement. The chargeback reason code list is a standardized set of codes that are used by credit card companies and banks to categorize the reasons for a chargeback request. After an authorization request is declined, the merchant forces the transaction through, typically by key-entering it, without making another authorization. The issuing bank initiates the first chargeback on behalf of the cardholder by sending a chargeback notification to Adyen stating the dispute reason. Click “add filter”. Code Reason; 01: Requested Transaction Data Not Received: 02: Requested item illegible: 07: Warning Bulletin File: 08: Requested/Required Authorization Not Obtained: 12: Account Number Not on File: 31: Transaction Amount Differs: 34: Duplicate Processing: 35: Card Not Valid or Expired: 37: No Cardholder Authorization: 40: Fraudulent Processing. The issuer reviews the case, assigns a reason code, and initiates the chargeback. When one cardholder initiates a dispute with their issuing bank, a. It can also be caused when the merchant doesn’t. Updated Visa Reason Codes. prenotification of chargeback, depending on the chargeback reason code, to the agency requesting additional documentation to properly dispute and remedy the chargeback. Reason Code 04. Payment Capture. Shopify has four status categories for chargebacks and inquiries: Open: No response has been sent yet and evidence can still be added. This scenario applies when the arbitration was raised by either the. The chargeback can be for the total transaction amount or a lesser amount. Versions Affected: v5, v6. The reason codes are grouped into several broad. VCR Dispute Reason Code 10. By entering your email, you agree to receive marketing emails from Shopify. Merchants who believe they have received an invalid chargeback under reason code 13. Solutions. A reason code is how banks categorize the reason for a chargeback. Reason codes are created by the major. Chargeback time limits vary widely depending on the issuing bank, and the chargeback code or reason. Visa, MasterCard, and American Express all list compelling evidence by reason code. Your request for a chargeback reversal has been reviewed. Chargeback Reason Codes by Network - 2023 Guide. Reason Code 81: Fraud. This chargeback<br />. 2 – EMV Liability Shift Non-Counterfeit Fraud. Mastercard has plans to follow suit. There are four primary phases to a Visa dispute: After Visa adopted VCR processes, most card networks altered their dispute cycles to be more in line with that used by Visa. The time limits for responding to a chargeback also vary based on the card scheme and the chargeback reason code. Different card networks have different reason code systems. Chargeback Reason Codes Visa. Mastercard has plans to follow suit. Reason Code 04. Click on “report a problem” and select the transaction in question. 1. A chargeback happens when a customer requests for a transaction to be reversed. Chargeback representment is the process through which merchants can submit evidence to prove that a chargeback is illegitimate. Get your complete guide to Mastercard reason codes, including all the detailed information, chargeback time limits, and other important information you need. Chargeback reason code 4837: No Cardholder Authorization applies in situations where customers claim a card transaction was unauthorized, but do not feel the issue can be resolved through the merchant. 6: Duplicate processing/Paid by other means. The reason_code will be one of the following values: chargeback_reimbursement: The gross shows positive if the chargeback was resolved in the seller's favor, and the seller gets a refund. Batch chargeback process. Oftentimes, the reason code assignment is based on limited knowledge and insight. In fact, the total costs of chargebacks exceed $30 billion per year, which is more than the revenue of many Fortune 500 companies, like McDonald’s and Netflix. A service chargeback is filed by a customer, which means that you need to note the card type and dispute reason code so that you can determine which types of information to submit if you dispute the claim. Here are a few high-level examples. See moreTime Frames by Chargeback Type and Reason Code The Time Frame charts in this guide indicate the reason codes, allowable time frames for chargeback processing. 3DS1 is less secure, less effective, and incompatible with the way consumers shop online. One of three things will happen: The issuer rules in your favor: Your representment case validates the original transaction. ) A no-nonsense summary of evidence that proves transaction is legit. A fraudulent chargeback represents much more than a lost sale for merchants. Chargeback Reason Codes Reason code are the first key to understanding the root causes . FR6 Partial Immediate Chargeback Program. Let’s say you got a Visa chargeback with reason code 13. By entering your email, you agree to receive marketing emails from Shopify. The major card networks (Visa, Mastercard, Discover, and American Express) established these codes to clearly identify the reason a chargeback was requested. These symbols stand for reasons why a financial institution may file a credit card chargeback from their client’s name. The codes also appear on financial reporting associated with disputes. In 2021, 43 percent of companies identified customer service delays as a top reason for their increase in chargebacks. 4 Ways to Fight Chargebacks: Gather compelling evidence. In this instance, the cardholder claims a misrepresentation of the order they received, such as a defect, damage, counterfeit, or incomplete merchandise. The card provider then processes this information and determines the. An invalid chargeback is defined as an unnecessary or non-compliant payment dispute — a chargeback that shouldn’t have happened. [noun]/* kə • stə • mər • di • spyo͞ot/. No two merchants will get exactly the same chargebacks for the same reasons, but there are definite patterns depending on the market you serve. 16, 2021. At Visa they used to receive reason code 98. Card networks send these codes to merchants to indicate why a chargeback has been filed. The chargeback reason code is important in determining the evidence you need to provide to successfully win the chargeback dispute. It’s easy to feel overwhelmed by chargebacks. If the customer’s story matches. Spot these types of chargebacks using the below reason codes. With the right compelling evidence,. For best results, your chargeback win rate should be as close to 100% as possible. Build & Submit a Representment Case in 4 StepsSTEP #7: Bank Review & Decisioning. 1These chargebacks occur to resolve chargeback-related disputes between network members. Other Ineligible Transactions Under Reason Code 62, Condition 2 . A chargeback reason code. Time limits vary by card network and reason code, though, so you should look into the specific terms tied to the reason code. 1 falls under the “Processing Errors” category. 9% and 100 chargebacks per month], you can get into the excessive chargeback program, which can cause penalties of up to $50 per chargeback. As chargeback time limits get shorter and shorter, automated technology will become more and more valuable. Our all-in-one e-commerce fraud prevention solution helps e-commerce companies reduce chargeback overheads while streamlining transactions for legitimate users. Since the chargeback process can be costly and time consuming, merchants should consider it an important priority. However, issuers must wait 10 days following the reservation or cancelation date or when the merchandise was returned to file a chargeback. This definitive guide comprise which chargeback reason encrypted with apiece of the four greater bill networks. Description: Reason Code: Explanation: Incorrect Card Number: American Express P01, P22; Discover IN; Mastercard 4808; Visa 12. 4853 – Cardholder Dispute – Goods or Services Not Provided. Now, compliance cases must be submitted through Visa Resolve Online (VROL). 2 EMV Liability Shift. 5 Visa Fraud Monitoring Program. However, it's advisable to respond to whatever reason code you received from the bank. This chargeback reason code can be avoided by ensuring that returns are processed promptly and accurately, and that the customer is informed of any credits issued. Chargeback management describes all of the ways in which merchants can deal with fraud and disputes that result in payment reversals. Response to retrieval request: Based on the information provided, the acquiring and issuing banks resolve the dispute, if possible. You can learn more about each one by visiting the Mastercard Chargeback Guide. How you respond is determined by the chargeback reason code: Embed This Graphic. Solutions. Sometimes, customers get wrongly debited due to manual data entry errors by the merchant’s team. The CB Reason represents the default reason for marking the transaction as a chargeback, but this default value can be changed. The newer system is designed to. RN2. Find explanations for the major credit card issuers dispute reason codes in the Cardholder Dispute Reason Code EncyclopediaThe existing 22 chargeback reason codes will be replaced by new reason codes and grouped into 4 categories: 1. Documentation must be a direct result of cardholder communication. Code 4807: Fraudulent Card-Present Transaction. 102. Encrypt transmission of cardholder data. There are two parts to this. All cardholder data must be encrypted, truncated, or tokenized; account numbers can only be partially displayed. As a merchant, you face the brunt of chargeback losses. Investigate suspicious orders. Pursuant to the Fair Credit Billing Act of 1974, cardholders have the right to dispute unauthorized or erroneous charges, and issuing banks must reverse a disputed transaction if the cardholder’s claim. This reason code is accompanied by a fraudulent reason code (UA). For this reason, you must document all debit and credit card transactions and adhere to the strict rules set by the card networks. Chargeback numbers displayed in the Control Panel are. 1 chargeback: 1. 0. Most chargebacks occur due to merchant error, true fraud and friendly fraud. This code tells you why the customer or bank initiated the dispute. So, if a customer files an Amex chargeback, the company has good reason to side with their customer over the merchant. The ECI value tells you what to do next in a 3DS transaction — proceed, reject the purchase, or try again. Some credit card companies also include a short phrase describing the code and chargeback. Pursuant to the Fair Credit Billing Act of 1974, cardholders have the right to dispute unauthorized or erroneous charges, and issuing banks must reverse a disputed transaction if the cardholder’s claim. To help simplify things, we’ve compiled a list of chargeback codes used by the four major card networks: Visa, Mastercard, American Express, and Discover. 3 Fraud – Card-Present Environment. The agency must provide this documentation to Vantiv (via mail, fax, online/scanning) within 30 calendar days after the report date on the Visa/MasterCard. First Chargeback failed: Reason Code 4837 not allowed under “issuer auths, they own” chargeback rules: 100001: 400: INVALID_REQUEST: First Chargeback failed: Reason Code 4863 not allowed for authorized CAT transactions: 100001: 400: INVALID_REQUEST: First Chargeback failed: Reason Code 4863 not allowed for. A chargeback can be initiated up to 120 days—but not more than 540 days—of one of the following events: The date the transaction was processed. 10/21/14 Updated Chargeback Time Frames: Added Reason Code 05; Addendum Reason Code PM; Changed TF time frame from 120 days to 540 days. Codes are not often shared between issuers which means it can be difficult to remember the details of each. 3 No Authorization. 4846. You’ll put that reason code, the transaction amount and authorization number, and state that the. Reason Code 03. Most Common Chargeback Reason Codes #3: Order Significantly Not as Described. ️ Take quick action. Vantage HouseAccording to the 2022 Chargeback Field Report, global costs associated with chargebacks will have skyrocketed in recent years. Everything You Need to Know (2023) Shopify POS has everything you need to sell in person, backed by everything you need to sell online. 3 may be able to represent the transaction and reverse the chargeback with the right compelling evidence. Offer shipment and delivery tracking. Timeframe: Under card network rules, a cardholder has up to 120 calendar days from the settlement date to initiate a chargeback (depending on the chargeback reason code). 13. By entering your email, you agree to receive marketing emails from Shopify. 4853 – Cardholder Dispute – Digital Goods Purchase of $25 or Less. without a reason code will be assigned a default code of 1. 3 is the less common version for card-present transactions. Get definitive guide includes the chargeback reason codes from all of the to majority card networks. Other Fraud—Card Absent Environment. Check with the issuing banks to determine what time limits may apply to you. Reason Codes Category 4: Processing Errors. Chargeback Base Codes by Network - 2023 Guide. A chargeback reason code is a 2-to-4-digit alphanumeric code chosen by the issuing bank from a predetermined list to reveal the reason the cardholder gave for requesting a chargeback. The refund process gives you a chance to fix the issue and make the customer happy. 105. In order to identify the reason a customer disputed a charge, it can be helpful to examine the reason code on the chargeback. 2: Cancelled recurring transaction: VCR Dispute Reason Code 13. The cardholder claims they were charged multiple times for a single transaction. Using our e-commerce fraud prevention tools, we help lower friendly fraud costs and chargeback rates, but also reduce gift card and coupon abuse, and promote secure login authentication. Updated August 23, 2023. Standard Threshold: Reaching a chargeback ratio of 0. 1 Chargebacks A chargeback is a rules-based mechanism, with time-sensitive workflows, that enables the issuer and the acquirer to determine the financial liability of a disputed transaction. 4 Other Fraud Card Absent. Here are some chargeback reason codes by card type. Blog additionally Articles; Success Stories; Chargeback Reason Keys; BIN Look-up; eGuides and Reports;. Fraud. Step 2: Customer initiates the chargeback. MasterCard - 4855 Goods or Services Not Provided. Chargeback Reason Coded by Network - 2023 Guide. Reason codes are important to help merchants address recurring. This can provide important information to fight the dispute. Global chargeback volume reached 615 million cases last year. A reason code or a chargeback reason code is a string of symbols (numbers and letters). The chargeback will remain and your account will not be credited. MDR also retired reason code 4840 – Fraudulent Processing of Transactions. A few other common reason codes for Visa include late presentment; non-receipt of cash from ATM; invalid data; EMV liability shift non-counterfeit fraud; no authorization; canceled merchandise and fraud related to stolen cards on the card recovery bulletin. Different card networks have different reason code systems. Code 10.