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    • HOME
    • SOLUTIONS
      • CARD ACCEPTANCE OPTIONS
      • PAYMENT DEVICES
      • SURCHARGING
      • COMPREHENSIVE ANALYTICS
      • REDUCED EXPENSES
      • NEXT DAY FUNDING
      • COLLECTING PAYMENTS
      • INVOICING
      • RECURRING BILLING
      • CUSTOMER LOOKUP
      • VIRTUAL TERMINALS
    • SIGN UP NOW
      • APPLICATION INSTRUCTIONS
      • SECURE APPLICATION
      • SIGNATURE PAGE
      • ZERO COST CREDIT ADDENDUM
      • INTELLIGENT RATE APP
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      • VIDEOS AND DOCUMENTS
      • MERCHANT STATEMENT UPLOAD
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Velocity ProcessIng

305-917-7000

Signed in as:

filler@godaddy.com

  • HOME
  • SOLUTIONS
    • CARD ACCEPTANCE OPTIONS
    • PAYMENT DEVICES
    • SURCHARGING
    • COMPREHENSIVE ANALYTICS
    • REDUCED EXPENSES
    • NEXT DAY FUNDING
    • COLLECTING PAYMENTS
    • INVOICING
    • RECURRING BILLING
    • CUSTOMER LOOKUP
    • VIRTUAL TERMINALS
  • SIGN UP NOW
    • APPLICATION INSTRUCTIONS
    • SECURE APPLICATION
    • SIGNATURE PAGE
    • ZERO COST CREDIT ADDENDUM
    • INTELLIGENT RATE APP
    • SUPPORTING DOCUMENTS
    • UNDERWRITING PROCESS
    • FINANCIALS REQUIREMENT
  • RESOURCES
    • VIDEOS AND DOCUMENTS
    • MERCHANT STATEMENT UPLOAD
    • GENERAL FILE UPLOAD
    • RECENTLY APPROVED CLIENTS
    • WEBSITE REQUIREMENTS
    • TRANSACTION FEE IMPACT
    • AUTHORIZE.NET
    • CONVERGE
    • FIND MY IP ADDRESS
    • NDA REQUEST
    • MAKE A PAYMENT
  • ABOUT US
    • EXECUTIVE BIOS
    • MISSION AND VALUES
    • PROCESSING PLATFORM
    • THE VELOCITY STORY
  • SUPPORT
    • ZOOM MEETING ROOM 1
    • ZOOM MEETING ROOM 2
    • PAYMENTS INSIDER
    • CLIENT PORTAL
    • PCI ELECTION
    • PCI COMPLIANCE
    • CARDX TRAINING SCHEDULE
    • CHARGEBACKS
    • CREDIT CARD TERMINALS
    • CHANGE REQUEST
    • CLIENT VERIFICATION
    • TRANSACTION VERIFICATION
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A CHARGEBACK IS THE TEMPORARY RETURN OF FUNDS, BASED UPON A DISPUTE, TO A CONSUMER'S ISSUING BANK.

CHARGEBACKS

Chargebacks can have a detrimental effect on your business. We understand the complex rules and have the knowledge & experience to protect your organization. Understanding chargebacks, card association rules, and dispute resolution processes will help your business prevent unnecessary challenges. 

UNDERSTANDING & MANAGING CHARGEBACKS

HOW CAN I PREVENT CHARGEBACKS?

WHERE CAN I FIND MY CHARGEBACKS?

WHERE CAN I FIND MY CHARGEBACKS?

A chargeback is the temporary return of funds to a consumer, mainly used in the United States, forcibly initiated by the consumer or issuing bank. Knowing the specific rules and regulations about chargebacks can help protect your business and prevent losses. Learn more about the best practices for preventing chargebacks. We also offer all clients a free comprehensive chargeback training based upon your specific business.

VIEW CHARGEBACK PREVENTION TIPS >

WHERE CAN I FIND MY CHARGEBACKS?

WHERE CAN I FIND MY CHARGEBACKS?

WHERE CAN I FIND MY CHARGEBACKS?

Depending on the configuration of your account, chargeback notices are sent via regular US mail or via email. Velocity Processing provides all clients with access to Payments Insider where you can view chargebacks, statuses, and all applicable documentation. We also encourage clients to view their bank account on a consistent basis to see if there are any merchant processing debits outside of the normal debit schedule.

PAYMENTS INSIDER LOGIN >

HOW DO I WIN A CHARGEBACK?

HOW DO I WIN A CHARGEBACK?

HOW DO I WIN A CHARGEBACK?

Chargebacks are inevitable. When it happens, you want to be prepared and do everything possible to win. As our client, we'll actively help you fight a chargeback and guide you on completing the documentation. We're experts at understanding the rules and regulations of the card associations which can be the difference between winning and losing. 

VIEW CHARGEBACK WINNING TIPS >

WHAT ARE CHARGEBACK CODES?

HOW DO I WIN A CHARGEBACK?

HOW DO I WIN A CHARGEBACK?

Chargebacks codes are the standardized codes utilized by the card association to identify the reason for a chargeback. When a chargeback is initiated, the consumer must provide their issuing bank with a reason for the dispute, which in turn is included in the official chargeback documentation provided to the business.

VIEW CHARGEBACK CODES >

TIPS FOR PREVENTING CHARGEBACKS

When a customer views their credit card statement or activity, they are seeing the name registered by the processor. Using a legal entity name instead of a DBA name can confuse a customer. You want to ensure that when the customer sees the transaction, they immediately think of your business.


Only charge a card if you have authorization.  Having access to the card number does not give you the right to charge the card, even if the customer owes you money. Unauthorized charges will lead to disputes.


Communicate with your client so they know when to expect a charge, and the monetary amount. Customers are very particular about being surprised with charges to their card. The better the communication, the fewer the chargebacks.


You're an expert in your industry, so you know where a customer may experience a potential issue. Instead of waiting for an issue to occur that could lead to a chargeback, be proactive. Sending an email to the customer or communicating a policy that you will do everything you can to give them an amazing experience will guide them to you if a problem arises, rather than issuing a chargeback.


Using technology to remind a customer about an upcoming charge, delivery, or return is easy and goes a long way. Receiving an email or text notification advising that a payment will be charged reminds the customer and gives them the opportunity to contact you if necessary.


Using our technology to verify the address with issuing bank, in conjunction with performing your own verification, will help prevent accepting a fraudulent card or shipping merchandise to an unauthorized address. The card associations won't protect you if you ship to an address that isn't on file with the issuing bank.


Address verification isn't available on international cards, making international sales slightly more complicated. Before shipping internationally, it is important to understand your risk tolerances, projected losses, and profit margins. Commerce has certainly gone global and products are shipped across the world daily, however there is inherent risk with international shipping.


If there is uncertainty about an address, a common technique is to obtain a validation document, such as a phone bill, utility bill, or other document showing their name and address. Ask for documents that come from popular companies like a utility company or cell phone provider, as opposed to a document that can easily be created like an invoice from an accounting software.


TIPS FOR WINNING CHARGEBACKS

All chargebacks must be responded to in a timely manner. If you fail to respond before the deadline, you will lose, regardless of the merits of your response. For this reason, we send all chargeback notifications to you via email and also by mail.


In the event of a chargeback, it's up to you to prove that the transaction was valid and that the customer received the goods and/or services. Consider what would happen if you went to court or arbitration. You must have tangible proof. Using documents, online forms, and/or digital signatures will substantially increase your odds of winning a chargeback.


Have the customer sign your terms of service, including your refund policy, warranty policy, delivery policy, and cancellation policy. Most companies today place all of this information online and have the customer click a check box.


When appropriate, take pictures or video. This can be used when packing merchandise, affixing a shipping label, or delivering a product.


Exchanging emails with a customer keeps a history of your conversation and your agreement. If there's ever a question, you can reference the email, even if it simply confirmed a call and outlined the bullet points.


The card associations look for key terms when evaluating a chargeback. One of the most important terms is "100% satisfied". By using this term when communicating with your customer about a product and/or service, you can protect yourself if they decide to change their story at a later point in time.


Every business has the right to create their own terms and conditions. With documentation or an electronic capture from your website, being able to show that your customer agreed to your terms and conditions defines the steps in the event of a problem. Use the terms and conditions to specify as many details as possible.


Defining a refund policy and having your customer acknowledge the policy will assist in the event of a desired refund. By defining the refund policy, the customer will know the exact circumstances of an acceptable refund (i.e., timeframe, restocking fee, verification of items returned, etc).


Sometimes a product has an issue and the manufacturer will provide assistance. Because customers look for the path of least resistance, they may issue a chargeback instead of reaching out to the manufacturer. Help the customer understand the warranty policy and define the difference between the product warranty issued by your company and the warranty guaranteed by the manufacturer.


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MASTERCARD REASON CODES (4000 SERIES)

4840

4840

4840

Fraudulent processing of transaction

4837

4840

4840

No cardholder authorization

4863

4840

4863

Cardholder does not recognize the transaction

4870

4870

4863

Chip liability shift

4847

4870

4847

Request authorization not obtained

4808

4870

4847

Request required authorization not obtained

4812

4812

4812

Account number not on file

4834

4812

4812

Point of interaction error

4860

4812

4860

Credit not processed

4853

4853

4860

Cardholder dispute

4855

4853

4855

Non-receipt of merchandise

4859

4853

4855

Service not rendered

MASTERCARD REASON CODES (6000 SERIES)

6321

6321

6321

Cardholder does not recognize the transaction

6341

6321

6321

Fraud investigation

VISA REASON CODES (20-40 SERIES)

28

28

28

Request for copy bearing signature

32

28

28

Cardholder does not recognize transaction

33

28

33

Fraud analysis request

FRAUD REASON CODES (10 SERIES)

10.1

10.1

10.1

EMV liability shift counterfeit fraud

10.2

10.1

10.1

EMV liability shift non-counterfeit fraud

10.3

10.1

10.3

Other fraud card present environment

10.4

10.4

10.3

Other fraud card absent environment

10.5

10.4

10.5

VISA fraud monitoring program

AUTHORIZATION REASON CODES (11 SERIES)

11.1

11.1

11.1

Card recovery bulletin

11.2

11.1

11.1

Declined authorization

11.3

11.1

11.3

No authorization

PROCESSING ERROR REASON CODES (12 SERIES)

12.1

12.1

12.1

Late presentment

12.2

12.1

12.1

Incorrect transaction code

12.3

12.1

12.3

Incorrect currency

12.4

12.6.1

12.3

Incorrect account number

12.5

12.6.1

12.6.1

Incorrect amount

12.6.1

12.6.1

12.6.1

Duplicate processing

12.6.2

12.6.2

12.6.2

Paid by other means

12.7

12.6.2

12.6.2

Invalid data

CONSUMER DISPUTE REASON CODES (13 SERIES)

13.1

13.1

13.1

Merchandise / services not received

13.2

13.1

13.1

Cancelled recurring

13.3

13.1

13.3

Not as described or defective merchandise / services

13.4

13.4

13.3

Counterfeit merchandise 

13.5

13.4

13.5

Misrepresentation

13.6

13.4

13.5

Credit not processed

13.7

13.7

13.7

Cancelled merchandise / services

13.8

13.7

13.7

Original credit transaction not accepted

13.9

13.7

13.9

Non-receipt of cash or load transaction value

NEED HELP? CALL OUR CHARGEBACK TEAM AT ‭866-600-5008‬ or send an email

EMAIL OUR CHARGEBACK TEAM >
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Velocity Processing is a registered Independent Sales Organization (ISO) / Member Service Provider (MSP) of Elavon, Inc. Georgia, a wholly owned subsidiary of U.S. Bancorp, Minneapolis, MN. Elavon has been processing electronic payments for 32 years and maintains an "A+" rating with the Better Business Bureau.

"Visa", "MasterCard", "American Express", "Discover", "OptBlue", "Apple Pay", "VeriFone", "ARB", "CIM", "PulsePoint", "Global Learning Lab", and "CardX" are trademarks and/or service marks of their respective owners.

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