Retrieval requests are an inevitable part of e-commerce payment systems and online credit card processing.
A retrieval request takes place when the credit card issuer requests a copy of the actual sales draft, or receipt, of a credit card transaction from the merchant. There are a number of different reason for retrieval requests. For example, a retrieval request may be the result of a customer disputing bank charges, innacurate or incomplete transaction information, a processing error or a possible indication of fraud. In short, a retrieval request is the initial step that the issuer takes in the event that the issuer or the cardholder disputes a transaction.
The merchant usually has 10-20 days to handle the situation, if the retrieval request is not acted upon within the specified time frame, or the merchant provides an illegible sales draft, then it turns into a bank chargeback. A card chargeback issued in this manner has no reversal or representment rights, if the merchant did not act upon the retrieval request, and additional fees may be assessed.
Both retrieval requests and chargebacks are controlled by credit card companies and their rules. The merchant needs to be aware of and follow the company’s regulations, timeframes and documentation requirements in order to ensure the merchant has the best chance for success during a dispute.
Payment Processing Services by NOIRE
NOIRE provides industry leading online payment processing services & risk management technologies. Designed using NOIRE, “Simply Switch On”, approach to payment processing, our payment solutions are built using the latest payment processing technology enabling businesses to “Plug In” and “Switch On” payment modules with ease if and when required.
As a leading Payment Service Provider, you can trust NOIRE to find the right solution for your business. We provide everything in one simple agreement – your Internet Merchant Account, Payment Gateway and Payment Processing with all the leading cards issuers. Combined with NOIRE’s industry leading fraud & risk management solutions, merchants can be confident managing their payments safely and securely from beginning to end with NOIRE.