Credit Card Processing Companies Copy Requests

This article will review the credit card processing companies copy request cycle. When an issuer initiates a copy request to a merchant bank, the latter has thirty days from that point to respond with a copy of the sales receipt back to the issuing bank. If the merchant bank sends the request to the retailer, it will tell them the exact number of days it will have to respond. The merchant account holder must adhere to the processing bank's time frame.

Once the retailer is sent a copy request, it has to retrieve the associated transaction receipt, make a high quality copy of it, and send it by fax, e-mail or mail it to the credit card processing companies within the noted time frame. The merchant bank will now send the copy on to the issuer, which will, for their part, send it to the disputing consumer. The question or issue the customer had with the transaction is most of the time resolved at that point.

Moreover, when a merchant sends the copy to the credit card processing companies, it needs to use a delivery mode that provides a proof of reception. If it sends the copy by mail, for example,it needs to be sent registered or certified. If the copy is transmitted electronically, there will need to be a written record of the delivery.

Telephone Copy Requests

Every now and again and to help their customers, issuers can telephone retailers directly to ask for a copy of a sales receipt. The merchant is not mandated to comply with such a verbal request from an issuer. Still, if it chooses to send a copy of the receipt, it have needs to make certain to save a copy for their own records as well. The merchant may find that they need it for some purpose or other later.

Copy Requests Responses

Responding to copy requests can save merchants both time and money. As retailer needs to always:

• Comply with every copy requests it gets.
• Comply with all requests in a timely manner.
• Make sure that the receipt copy it transmits is readable.

A copy request that is not complied with or it is, but beyond the listed time frame, can solely be charged back for retrieval requests for Chargeback Reason Code 33 Fraud; if not a "true reason" needs to be submitted. Minimizing chargebacks can help merchants improve their customer service and revenues.

Credit card processing companies need to make certain they have correct data on the retailer's "Doing Business As" (DBA) name.