What is Chargeback reason code 75

Now we are very familiar with the word ‘Chargebacks’ from the expert at Chargeback Expertz. Let us now get information about the basic explanation about MasterCard Chargeback Reason Codes. It will occur due to system error and fraud. Let’s see how to get prevention against chargeback. In routine life, we shop many things – grocery, tickets, dinning and many more things and we check these expenses while paying weekly or monthly bills from our card. Sometimes, cardholder find that he/she didn’t purchase or take service and that bill is included in our expense. At that time, credit card holder disputes against that charge. If any merchant’s transaction volume is high, then it is necessary to take cautious steps to decrease the rate of Chargeback.

Overview of Chargeback Reason Codes :

Each transaction or deal has a unique receipt no. or order no. When any Chargeback occurs, that will be identified by specific code. These numeric codes are varied by card network, but serve the same purpose. It specifies the cause of dispute between the issuer and the merchant. The merchant should see each Chargeback as learning experience for future business deals. There are some precise chargeback reason codes, particularly for MasterCard holder :

To apply for the Chargeback, the issuer must submit the First Chargeback or 1442 Message with the application Reason Code. Generally, the issuer can apply for first chargeback for applicable transaction within decided time frame for the chosen Chargeback Services with Reason Code. Basically the Chargeback time frame include 180 days period.

Causes of Chargeback :

Let’s categorize Chargeback frauds by their three main causes – merchant error, criminal fraud and friendly fraud. The Chargeback Management System becomes more efficient by doing this categorization.

CodesChargeback Reason4801Requested transaction data is not received4802Required information is illegal or missing4808Required authorization not obtained4831Transaction amount is different4834Duplicate order process4835Card is not valid or expired4837Fraud/No card holder authorization4840Fraudulent transaction4841/4850Credit posted as purchase4855Nonreceipt of mechandise4859Service not rendered4860Credit not processed4863Card holder does not recognize – Potential Fraud4870/4871Chip/PIN liability shift/ Counterfeit transaction

1. Merchant error : There are several Chargeback related to merchant services than any other category and most of them are preventable. These errors are sorted by some of these codes : 4802, 4803, 4841, 4850, 4855, 4870, 4871 and many mores. By doing best business practices and little extra efforts, any merchant will reduce chargebacks or profit loss.
2. Criminal fraud : Unauthorized activity or criminal fraud is recognized as potential fraud and you should take the necessary steps to stop chargebacks. These frauds are sorted by codes : 4870, 4871, 4837, etc.
3. Friendly fraud : Mistreatment, neglect of customer requirement – these all chargeback abuse are done by non hostile enemy known as friendly fraud. The fraud might have done accidently, while the consumer set out with intention to get something free. These codes are : 4855, 4841, 4850, 4863, 4837, etc.

The management of chargeback is complex and difficult, but using management efforts, it may be reduced.

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