Chargeback Processing Cycle for MasterCard Transactions – Chargeback is a well-known name for each card network. Also, the Card Networks have slightly different rules and methods to deal with the excessive chargebacks. The banks hate chargeback or fraud, as it creates disturbance in the flow of currency. Hence, the bank puts the limit to the number of chargebacks allowed to the merchant. Now as discussed, the card networks use different protocols or reason codes. Similarly, the MasterCard has its own set of reason codes. Also, the chargeback processing cycle for MasterCard Transactions is easy to understand. In this article, we are discussing the chargeback processing cycle for MasterCard transactions.
For details related to the MasterCard processing, you can contact Chargeback Expertz. We have a team of experts available to help you with your queries. We can also help you with the Chargeback Representment and Chargeback Management.
MasterCard Chargeback Reason Codes
Even if the merchant uses the best security system and protocol, hewill receive a chargeback from its customers or bank. However, if the merchant has the information related to chargeback reason code, they can dodge many issues in future.
| Reason Code | Description | Time Limit (Issuer) | Time Limit (Acquirer) |
|---|---|---|---|
| 4807 | Requested/Required Item Illegible or Missing | 45 | 45 |
| 4808 | Authorization-related Chargeback | 90 | 45 |
| 4812 | Account Number Not on File | 45 | 45 |
| 4831 | Transaction Amount Differs | 120 | 45 |
| 4834 | Point-of-Interaction Error | 120 | 45 |
| 4837 | No Cardholder Authorization | 120 | 45 |
| 4840 | Fraudulent Processing of Transactions | 120 | 45 |
| 4841 | Canceled Recurring or Digital Goods Transactions | 120 | 45 |
| 4842 | Late Representment | 120 | 45 |
| 4846 | Correct Transaction Currency Code Not Provided | 120 | 45 |
| 4849 | Questionable Merchant Activity | 120 | 45 |
| 4850 | Installment Billing Dispute | 120 | 45 |
| 4853 | Cardholder Dispute – Not as Described or Defective Merchandise |
120 | 45 |
| 4854 | Cardholder Dispute – Not Elsewhere Classified (U.S. Region Only) | 60 & 120 | 45 |
| 4855 | Goods or Services Not Provided | 120 | 45 |
| 4859 | Addendum, No-show, or ATM Dispute | 120 | 45 |
| 4860 | Credit Not Processed | 120 | 45 |
| 4863 | Cardholder Does Not Recognize – Potential Fraud | 120 | 45 |
| 4870 | Chip Liability Shift | 120 | 45 |
| 4871 | Chip/PIN Liability Shift | 120 | 45 |
| 4999 | Domestic Chargeback Dispute (Europe region Only) | 120 | 45 |
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Read the list carefully. If you need better description and information of these reason codes then visit chargebackexpertz.com or call us at the toll-free number +1 (888) 901-8653. Furthermore, the MasterCard Chargeback Reason Codes can help the user with chargeback processing cycle for MasterCard transactions.
Here is How MasterCard Processes a Chargeback
According to the MasterCard, Chargeback is a Dispute Management Process. If used properly, the chargeback reason codes can solve the disputes very efficiently.We have mentioned the steps that are followed when a chargeback is initiated. This is the Chargeback Processing Cycle for MasterCard Transactions:
- The customer or the cardholder is the one who initiates dispute or chargeback.
- Then the customer’s bank or issuer, review the request and pass it on to the merchant’s bank or acquirer.
- Then the acquirer checks the request, if the claims are legit then the money is returned to the customer.
- Otherwise, the merchant is asked to show some evidence to claim that the transaction was not a fraud.
- If the merchant is able to present any evidence, the acquirer takes it into the account. Otherwise, the merchant has to pay the asked amount to the customer.
- In case of solid evidence from the merchant side, the claims are taken to the issuer. The merchant claims are also called Representment.
- If the issuer accepts the claims of the merchant on the basis of the evidence then the chargeback is nullified. Otherwise, the merchant has to pay the transaction amount back to the cardholder.
These are the general steps that are followed in case of any chargeback request. The other card networks such as Visa has the same pattern with minor changes. If you are a merchant and looking for assistance with the Chargeback Representment then we can help you. For proper Chargeback terminologies, contact Chargeback Expertz to get a hold of an expert.
MasterCard’s Suggestion to Reduce Chargeback
The chargebacks are also a point of issue for the card network as well. Excessive chargeback and fraud can also affect the reputation of the card network. Hence, the card network, such as MasterCard asks the user to avoid an excessive chargeback. Here are some tips from MasterCard related to the chargeback.
- Be true to customers and give a proper description of the product that you are selling.
- Deliver as promised and avail the goods tracking services.
- Provide the customer support service to the user in case of any query related to product and services.
- Use the best security services to avoid any transaction related frauds.
Follow the Chargeback Processing Cycle for MasterCard Transactions to avoid any issues. You can contact Chargeback Expertz at the toll-free number+1 (888) 901-8653 and talk to a skilled technician. You can also try Skype Chat or Email Support to reach out.
