Either the acquiring or issuing bank could initiate the chargeback. The merchant gets confused and offers to provide the documentation proving that Linda’s card was a valid card and that authorization was approved at the. According to a study released by Juniper Research, ecommerce businesses were projected to lose roughly $20 billion in 2021 due to fraud, an 18% increase over the $17. 53 (6) 13. Chargeback Reason Codes by Industry. Every card brand has a unique set of chargeback reason codes banks must choose from. 4846. Reason Code Reason Code North-America Reason Description; 4540: F29: Card Not Present (fraud). 2. All chargebacks start with a customer making a purchase in person, in an app, or online. 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. The shorthand description is “Service Code Violation. Assemble Your Evidence. Therefore, the issuer may submit a chargeback for a Payment Transaction using the message reason code 4842 before the 30-calendar day presentment time frame normally required for this message reason code. Chargeback reason codes can change with new information. When they do, you’ll be given an alphanumeric string of text that helps to identify the chargeback – called a chargeback reason code. Reason Code 03. Visa. At Visa they used to receive reason code 98. Let’s say you got a Visa chargeback with reason code 13. What are chargeback reason codes? Issuers send chargebacks to the merchant’s acquiring bank with a reason code to communicate what caused it. FR4 Immediate Chargeback Program. This provided a number of insights into the typical causes of subscription chargebacks by industry: Computer Software : Cancelled Services was the most common chargeback reason code, which is troubling because these should be easily avoidable disputes. Dispute Category. Therefore, the issuer may submit a chargeback for a Payment Transaction using the message reason code 4842 before the 30-calendar day presentment time frame normally required for this message reason code. 4. Time Frames by Chargeback Type and Reason Code. Mastercard asserts that SecureCode will prevent unauthorized charges and reduce fraud. Be sure you understand the cardholder’s claim. one jurisdiction to another. Assigned to the dispute condition. 4 Section . After the introduction of Visa Claims Resolution, Visa set the goal of resolving all disputes in less than 31 days. The standard chargeback process involves eight steps: Retrieval request: The card-issuing bank requests that the acquiring bank provide additional information for a given transaction. 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 most comprehensive guide to chargeback reason codes. 78%), cash (12. [noun]/* fren • dlē • frôd • /. To quantify the total cost of fraud, we break down the many losses that accrue along the purchase journey of a fraudulent $100 sale. Reason Code 03: Laundering: The merchant processed transactions that did not involve a bona fide cardholder: Reason Code 04: Excessive Chargebacks: The merchant breached predetermined chargeback thresholds: Reason Code 05: Excessive Fraud: The merchant breached predetermined fraud-to-sales dollar volume thresholds:. The implication is that the merchant is at fault. A chargeback can happen when a customer initiates a transaction dispute. When a customer decides to dispute a charge made to their debit or credit card, it is referred to as a chargeback. When a cardholder disputes a charge, their issuing bank will review the transaction and decide if. If one member believed the other violated a Visa rule when handling a chargeback, they filed a pre-compliance chargeback for compensation. Not remembering the original purchase. 2. 00: The amount of the transaction. UA01 Fraud – Card Present Transaction. 3 Incorrect. Issuers must not initiate a chargeback for magnetic-stripe (POS Entry Mode value of 90 or 02) transactions on non-chip enabled cards. In simple terms, Mastercard Chargeback Reason Code 4859 — No Show/Addendum/ATM Dispute refers to situations where a customer. So the company has more incentive to side with customer during cardholder. Principal members of VISA and MasterCard are the safest options for Card Payment Processing. 1 chargeback: 1. There are several reasons why many merchants turn a blind eye to suspected return fraud. Ethoca alerts can prevent chargebacks before they hit your bank account. 18167 US Highway 19 N Clearwater, FL 33764 877. By entering your email, you agree to receive marketing emails from Shopify. For information concerning Chargeback Response Code, see the Chargeback API Reference Guide. The issuing bank will then pass on the chargeback to the merchant. Here is an overview of how the general chargeback process works with most major processors (we’ll get into how Square does it down below) Step 1: A. Survey data from the 2019 Chargeback Field Report found that 82% of merchants surveyed believed that the Visa Claims Resolution process had “little to no impact on chargeback management. 4 applies to eCommerce, whereas code 10. F02. Expedited Dispute Resolution forms will not be allowed. 10. 4634. Now, compliance cases must be submitted through Visa Resolve Online (VROL). According to Discover, cardholders officially have 120 days from the date of the transaction to initiate a chargeback, although the network may accept claims filed outside of that window on a case-by-case basis. NR . You’ll see that all chargebacks ultimately stem from one of three causes: merchant error, criminal fraud, or friendly fraud. Below stated are some, Chargeback Response but not every, examples of particular documents that could be used as proof: Verification codes (authorization, AVS, card security code, 3D Secure 2. Customer not disputed more than the Original Transaction Amount. The Time Frame charts in this guide indicate the reason codes, allowable time frames for chargeback processing and type of chargeback. 3. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. . 1. 15, 2021. But research by Javelin found that merchants dispute 43% of all chargebacks and succeed at 60% of those disputes. 634. 9% and 100 chargebacks per month], you can get into the excessive chargeback program, which can cause penalties of up to $50 per chargeback. Select the value “open”. Contactless payment fraud refers to any attempt to make unauthorized purchases using information obtained by hijacking a near-field communication (NFC) -enabled transaction. Specify the default reason code to. Each of the major. For example, Mastercard has a code which indicates a ‘consumer dispute. What stands out about the Discover reason codes list, though, is most of the codes are alphabetically-noted rather than numeric. Reason codes vary by card brand. A chargeback happens when a customer requests for a transaction to be reversed. 18167 US Highway 19 N Clearwater, FL 33764 877. For perspective, the next highest. Stop order fulfillment so cost of goods isn’t lost. 1? Visa chargeback reason code 12. 2 chargebacks are frequently caused by customers forgetting to cancel a subscription before the next billing and then going to their bank to try to get their money back. Always swipe the card once in the direction of the arrow shown on the reader. Reason codes for chargebacks are assigned by issuing banks at the time of their creation, depending on the nature of their occurrence. If you do perform a key-entered transaction, make a manual imprint of the card. Use clear and consistent billing descriptors. Code 43 – Stolen card, pick up (fraud account) – Similarly to code 41, the cardholder reported the card stolen. For each reason code, a definition is provided along with the merchant’s actions—or failure to act—that may have caused the chargeback, Try Shopify free for 3 days, no credit card required. It depends on the chargeback reason code associated with the dispute. The sales receipt and/or date and amount of the authorization if other than the transaction date. Reason Code. Another thing you should bear in mind is that the card brand involved in the dispute can also change the reason code to suit new developments. Which is meant to know the reason for the dispute. You’ll put that reason code, the transaction amount and authorization number, and state that the. There are two parts to this. Know these five rules to avoid payroll blunders triggering fines, penalties and IRS audits. Click “filter orders”. It is caused by things like beliefs, opinions, morals, regrets, fear, and confusion. We’ve all been there as an eCommerce owner: you excitedly ship out a $1,500 order to a customer, and then a few weeks later you’re notified that the customer has opened a chargeback dispute. Expedited Dispute Resolution forms will not be allowed. It gets worse. Whenever an incorrect account number is processed, or the. Fight; Prevent;. DISCOVER Chargeback reason codes vary but it all means the same thing - refund. Please note that each card network (MasterCard, VISA, American Express, etc. United States. Poor order fulfillment: Late order fulfillment or billing for an order before shipping the goods. If a criminal manages to defeat the technology and complete an online purchase, Mastercard will shift liability away from the merchant and onto the issuer. Reason Code: Numeric: Code for the chargeback request (see below). FR2 Fraud Full Recourse Program. Here is an overview of how the general chargeback process works with most major processors (we’ll get into how Square does it down below) Step 1: A purchase occurs. The shorthand description is “Service Code Violation. The list of chargeback reason codes in this article. 04%). Code. However, the 30 day waiting period can be waived if you’ve. EMV Liability Shift Non-Counterfeit Fraud. While there are reason codes related to processing errors that cause disputes, the majority of reason codes result from a cardholder disputing a charge. Reason Code 53 re-presentments must be processed within 45 calendar days from the. Get your complete guide to the new Visa reason codes, including all the detailed information, chargeback time limits, and other important information you need. Mastercard Chargeback Reason Code 70: Chip Liability Shift. 76 (2, 4 & 5) Incorrect. When one cardholder initiates a dispute with their issuing bank, a. For card-absent transactions, use all Visa tools, including AVS, CVV2, Visa Secure, and more, to reduce instances of fraud. Make sure you differentiate between card-absent and card-present transactions during clearing by noting internet phone, or mail orders. See full list on paymentdepot. 65 - Withdrawal limit exceeded: The transaction would exceed the maximum. 5. What is a chargeback time limit? The chargeback response. A Shopify chargeback occurs when a cardholder contacts the bank about. The most common chargeback reason codes are fraudulent charges, unauthorized transactions, and products not received, however, there are dozens of different chargeback reason codes for cardholders to choose from. What Are the Time Limits for Mastercard Chargeback Arbitration? Starting from the date the chargeback representment was filed, issuing banks have 45 calendar days to file a pre-arbitration. Visa, Mastercard, and other leading card companies each have their own respective set of codes for this purpose. 5 Misrepresentation 80 (1) 12. FR6 Partial Immediate Chargeback Program. 5%. Summary of Changes, 13 December 2018According to the 2022 Chargeback Field Report, global costs associated with chargebacks will have skyrocketed in recent years. According to Visa’s press release announcing the changes, those response codes are as follows: Response Code 62—Restricted card (card invalid in region or country) Response Code 78—Blocked, first used (transaction from new cardholder, and card not properly unblocked) Response Code 93—Transaction cannot be completed—violation of law. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. The time limits for responding to a chargeback also vary based on the card scheme and the chargeback reason code. In all, there are four major categories of Chargeback Reason Codes. Chargebacks are something every business wants to avoid, as they can. Chargebacks911® can help your business manage risk from Visa chargeback reason code 10. UA10 Request Transaction Receipt (swiped card transactions) UA11 Cardholder claims fraud (swiped transaction, no signature) For each claim, you must craft your representment to suit the reason code under which the bank filed the chargeback. Identity theft and account breaches in which the merchant is the victim, for example, fall under reason codes 01, 02, and 14. You should not retry the transaction or provide any services or goods to the customer. It can range from 60 to 120 days from the billing date. Having a Lax Attitude Toward Industry Rules & Regulations. Explaining Mastercard Reason Code 4859 - No Show/Addendum/ATM Dispute. You should code appropriately to handle all codes applicable to the transactions you use. Whenever a chargeback is initiated, a code is passed through from the issuing bank that gives a reason for the dispute. 2. The current list of 22 Visa chargeback reason codes will be replaced with new values and grouped into four new categories of disputes: Authorization, Fraud, Processing Errors and Consumer Disputes. The chargeback reverses a money transfer from the consumer's bank account, line of credit, or credit card. 16, 2021. message. The code can be used in multiple specific situations; when necessary, an additional message will be provided along with the reason code to inform the merchant which particular type of chargeback. However, Visa is the largest card brand in both the United States and the world. ACH disputes pertain to various parties involved in an ACH transaction, which is an electronic funds transfer facilitated. “Visa has 28 different reason codes. Specifically, these updates only pertain to transactions that are charged back after Oct. To obtain additional information, the issuing bank sends a retrieval request to the merchant’s bank. If you choose to fight the chargeback, Amazon Pay will charge you a $20 Disputed Chargeback Fee. Use pre-sale fraud detection service providers that can help verify the cardholder’s identity, detect potential criminal activity, and reduce the risk of accepting unauthorized transaction. This reason code indicates that the merchant processed a transaction using the wrong transaction code. These numeric codes vary via card brands, yet all hypothetically fill the same need: to provide explanation behind the chargeback dispute. It’s typical to see fraud chargebacks roll in 2-3 months after the initial charges took place. Download this sample Chargeback Rebuttal Letter. Issuer ACS unavailable - Visa generated CAVV. Older time limits for disputes vary based on reason code; in many cases buyers have 120 days after a purchase to file a chargeback. In the case of friendly fraud, that reason could be completely invalid and. Both EFM and ECM measure compliance at the MID level. 1001 - Cardholder does not recognize the transaction. Chargeback . 1: Use the corresponding dates from the invoice. 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. UA02 Fraud – Card Not Present Transaction. Reason codes are important to help merchants address recurring. Contactless Payment Fraud. Mastercard Chargeback Reason Code 71: Disputed Amount. In simple terms, an Electronic Commerce Indicator (ECI) is basically a 3-D Secure response code. Code 10. The cardholder claims they were charged multiple times for a single transaction. For example, some reason codes offer cardholders over a year to file. Visa Chargeback Reason Codes are divided into six general groups, with 22 subcategories (codes): 1. 1 EMV Liability Shift 10. 2 Recurring transaction cancelled . Chargeback reason codes are codes used to categorize the reason for the dispute. You can see a reason code 11. The Merchant Reviews the Partial Chargeback Claim. If the chargeback is in the customer’s favor, the bank reverses the transaction and debits the business’s acquiring bank instead of crediting itThe chargeback period, or the time limit for filing a chargeback, depends on the card scheme and the chargeback reason code. The chargeback process can last from one month to six months. Specifically, it has introduced a Compelling Evidence requirement for disputes falling under the Visa CE/30 chargeback reason code. That suggests that in the times when merchants are compelled to file a dispute, most of the time they will prevail. Discover. When a chargeback request is filed a chargeback reason. 1 Goods and Services Related Issues 1. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. Return fraud happens when consumers bring an item (or items) back to you to request a refund in the form of store credit or cash. Vantage HouseAutomate Tasks & Streamline Processes Let Midigator remove complexities and improve the efficiency of your chargeback management strategy. Other reason codes address entirely understandable reasons for cutting a merchant off from their credit card processor, like participating in money-laundering schemes, colluding with other merchants to fix prices or. The good news is that most of these invalid claims are disputable by the merchant. These codes are broken down into five different category. AVS is a MasterCard service designed to stop CNP fraud; however, it is widely used by. Availability Date: October 24th, 2021. STEP #7: Bank Review & Decisioning. If using any other currency than this, it should be equivalent to the specified amount. Also, Ethoca Alerts only notify you of chargebacks that occur within the alert. If the customer’s story matches. Specify the default reason code that you want the system to assign when you enter a chargeback amount. When you do the math, you are looking at a $5,000 penalty per month, along with a chargeback fee of $15-$30 per chargeback, and all the other associated costs. 0) Email conversations with the customer; Contracts; Digital usage logsA CSC is a three or four digit number printed (not embossed) on a credit card. Discover uses unique codes to explain those reasons to merchants. ’Chargeback Reason Codes; BIN Lookup; ROI Tool; Company. Description. There are 151 chargeback reason codes across the four major card networks. 1 Merchandise / Services not received . Each of the major card brands, including Visa,. 2 falls under the “Processing Errors” category. However, the disputes themselves are still categorized by the issuing bank based on the card network issuing the card. Every chargeback is filed with a reason code that identifies the given reason for the dispute. Visa uses chargeback Reason Code 80 to designate chargebacks resulting from processing transactions where either the account number or the transaction amount posted with the card issuer does not match the one shown on the sales receipt. Chargeback reason code 13. Then they instruct the merchant’s acquiring bank to reverse the transaction and withdraw the funds from the merchant account. Depending upon the class, a retailer will have a swift way to offer evidence supporting the claim. If your chargeback ratio is high [i. Europe Region Operations Bulletin No. 2: No Authorization Legacy Code: 71. 7 (previously legacy reason code 85, condition 2) is part of the updated version reason codes that were phased out under the Visa Claims Resolution initiative. If the cardholder’s bank accepts the dispute, they will reverse the transaction, taking the funds back from the merchant and returning them to the cardholder. Reason. Reason code 98 was a code used for pre-compliance chargebacks before the implementation of the Visa Dispute Resolution system. About Us; Careers We're hiring! In The Press; Latest News; Events; Corporate Responsibility; Brand Resources; Contact Us. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. Please refer to chapter 5 for more information. 75 for every $1. And according to The True Cost of Fraud report by LexisNexis, businesses end up paying $3. 3 Incorrect Currency. Chargeback Representment. High-Risk (Excessive): Reaching a chargeback ratio of. With an eCommerce transaction, 3-D Secure technology works like an online PIN code. compliance process depending on whether a chargeback right exists. The following is an inside and out diagram of reason codes for Visa, MasterCard, Discover & Amex alongside their depiction. 1 Quick Reference Lead. DISCOVER Chargeback reason codes vary but it all means the same thing -. A chargeback happens when a customer asks their card-issuing bank to reverse a transaction. But, merchants should be aware that, eventually, everyone will be required to use the new designations. A chargeback report is a periodic report that compiles key chargeback stats to track trends and identify correlations between disputes and other business data. 4 Funding Process. This manual outlines the rules and guidelines to be followed by the members. Chargeback Reason Codes Retrieval Reason Codes 78 Int'l only Service Violation Code Discover 4541 AP 4586 AW 4755 RG 4553 RM 8002 RN2 Altered Amount Non-Receipt of Goods or Services0Cardholder Disputes Quality of Goods or Services MasterCard;45 Days from the central processing date of the transaction120 Days from the central processing date of. Principal members of Visa, Master card. The chargeback can be for the total transaction amount or a lesser amount. [1] Sift. 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. 1 - Late Presentment. 4853 – Cardholder Dispute – Goods or Services Not as Described or Defective. Transaction is not eligible for Reason Code 75 (cardholder does not recognize transaction) or 83 (fraud transaction - card absent environment) 2. The Visa chargeback reason codes system underwent a major overhaul in April 2018 as part of their new Visa Claims Resolution (VCR) initiative. Take the time to note the following dispute reason codes for Visa. Each chargeback is disputed by a specific reason code. Chargeback /Dispute; Merchant Response. CSCs were developed by Equifax in the late 1990s as a way to increase security in the newly emerging world of e-commerce. 7: Defective goods and services: C32: RM: 13. Time limits vary by card network and reason code, though, so you should look into the specific terms tied to the reason code. • Section 4: Chargeback Reason Codes—Contains detailed information on the reason codes for the most common types of chargebacks that merchants receive. Chargeback. Chargeback time frames - A specific period during which a chargeback can be raised. Here’s how. Documentation must be a direct result of cardholder communication. 62 (1) Compliance. A risk department can accurately analyze what the issue is with their merchant by seeing the individual reason code,” Cirone explained. Chargeback Reason Codes All received credit card disputes include a reason code. Here's a rundown of the most common decline codes: 51 - Insufficient funds: At the time authorization was requested, the customer’s account did not have sufficient funds to cover the transaction. Mastercard issuers use merchant advice codes to respond to authorization requests, and as a communication tool with merchants regarding a cardholder's account. Reason . Clearly differentiate between card-present and card-absent transactions by noting mail, phone, and internet. Additionally, one clearing transaction. Issuer’s Arbitration Chargeback. 3: Goods or services were not as described: C31: RM: 13. No two merchants will get exactly the same chargebacks for the same reasons, but there are definite patterns depending on the market you serve. Dec 6, 2021 — Betty's bank issued the chargeback for $9. Visa Chargeback Reason Codes. Each chargeback comes with a reason code indicating why a transaction is being queried. Shopify Payments Chargeback Reason Code #5: Product Not Delivered. Encrypt transmission of cardholder data. What are chargeback reason codes? Mike Conway 2021-03-04T20:56:54+00:00 Issuers send chargebacks to the merchant’s acquiring bank with a reason code to communicate what caused it. This means the cardholder claims that they received goods or services that were substantially different from what the merchant described. The customer regrets their purchase. Fraudulent Activity. CR . Reason Codes Category 1: Authorization. 4853 – Cardholder Dispute – Digital Goods Purchase of $25 or Less. Fraud UA01 Fraud – Card Present Transaction UA02 Fraud – Card Not Present Transaction UA05 Fraud – Chip Counterfeit Transaction UA06 Fraud – Chip and PIN. Recurring billing transactions are a frequent source of conflict, disputes, and. M10 Vehicle Rental – Capital Damages. Search the Chargeback Reason Code Database. If the merchant has a signature showing that the order was delivered, or evidence that the. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. For example, suppose a cardholder filed a case about an order processing issue, and you disputed the chargeback. Clerical These chargebacks occur to resolve chargeback-related disputes between network members. Here's a list of all the current Visa reason codes: Chargeback Code. This chargeback reason code is also referred to as “Point-of-Interaction” Errors. 4853 – Cardholder Dispute – Goods or Services Not Provided. Values are: Blank: Use the receipt G/L date. 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. For example, the dispute reason “Cardholder Does Not Recognize” is denoted under the Discover reason codes system as “AA. Chargeback reason codes will usually provide specific information about what kind of evidence is needed to get the chargeback reversed. com The post below contains legacy information pertaining to the formerly-common Visa chargeback reason code 75. Incorrect Transaction Code: 77: Non Matching Acct Number: 78: Service Code Violation, Did not Obtain Authorization (International Only) 79:If they think it does, they assign it a reason code and credit the funds back to the cardholder’s account. 4632. Common Point of Purchase: Data stolen from a merchant’s system is used to make fraudulent transactions. When a customer who's enrolled with 3-D Secure from their bank initiates a purchase, the tool will deploy during the. An invalid chargeback is defined as an unnecessary or non-compliant payment dispute — a chargeback that shouldn’t have happened. M49 Vehicle Rental – Theft or Loss of Use. For this reason, you must document all debit and credit card transactions and adhere to the strict rules set by the card networks. 634. 12. ”. Code 534 – Do not honor, high fraud – The transaction failed authorization. 3. 1; Reason: EMV Liability Shift. Search the Chargeback Reason Code Database. This reason code is used when the cardholder claims that their card was used fraudulently without their permission. 4. Step 1: Identify the Source. Visa’s process introduces four dispute categories and associated numerical labels (Fraud – 10, Authorization – 11, Processing Errors – 12, Consumer Disputes – 13) under which the renamed reason codes will be placed. High Level Visa Chargeback Dispute Flow. reason code information. Mastercard created Mastercom to make the. Visa requires processors and banks use to this system for multiple tasks, including challenging initial chargeback results. For each reason code, a definition isWhat is Visa chargeback reason code 12. There are dozens of reasons why cardholders and issuers dispute transactions. Chargeback prevention strategies vary based on the reason for the. Documentation must be a direct result of cardholder communication. Consider Deadlines. Already reversed (by Switch) 80. In general, the unauthorized use of a parent’s credit card by a child is not considered a legitimate reason for filing a chargeback, since it is not criminal fraud, and the customer received the purchased goods or services. Chargebacks are a problem that is growing worse across the board, and gas station. Shopify has four status categories for chargebacks and inquiries: Open: No response has been sent yet and evidence can still be added. ) A no-nonsense summary of evidence that proves transaction is legit. The reason code. 2. Similar statutes will outline potential. About American Express chargeback reason codes. Transaction not authorised – the Card Issuing Company is stating that an authorisation code was required for the transaction, but it was not obtained. Chargebacks. A chargeback is a return of money to a payer of a transaction, especially a credit card transaction. But, it could be up to 540 days, in some situations. Discover chargeback reason codes are divided into three categories: service disputes, processing errors, and fraud. 02/10/16 Added Debit Chargeback Reason Codes. Visa organizes their chargeback codes by categories. These may impact the dispute time limits. a) Code 75 (Cardholder Does Not. Each chargeback reason code has its own set of specific documentation requirements so merchants should familiarize. Through 2021, we analyzed chargeback reason codes across various subscription-based verticals. The most effective fraud detection and chargeback prevention approach will always rely on multiple automated processes and human involvement. M49 Vehicle Rental – Theft or Loss of Use. Response to retrieval request: Based on the information provided, the acquiring and issuing banks resolve the dispute, if possible. If the conflict can be settled, the acquiring and issuing banks do so. ©Date Updated: Oct 17 2022 TABLE OF CONTENTS What Are Chargeback Reason Codes? Importance of Chargeback Reason Codes Chargeback Reason Code. For example, Visa reason code 83 is one of the reason codes with several modifiers with which it’s associated.