Avoid Late Batch Chargebacks
As of May 18, 2011, Visa amended Reason Code 74 “Late Presentment” to state “If transacrtions are not batched/settled within 10 days from the date of the transaction, Visa mandates that card-issuing banks use chargeback Code 74 for “Late Presentment” to issue a chargeback notice. Merchants will lose the transaction in question.” In order to […]
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