Wednesday, June 6, 2012

Novus Credit Card Processing Transaction Documentation Requirements

Novus Credit Card Processing Transaction Documentation RequirementsNovus credit card processing transaction documentation submitted by a merchant account provider or a retailer in response to a dispute notice must be compliant with the requirements stated below, as well as with the concrete requirements for each reason code.

All of the following data must be available:
  • The card number (either the entire 16-digit card number or a truncated one where required by law).
  • Quantity and a short description of the products or service bought, except for sales receipts which are not required to include this information.
  • Total transaction amount, including sales tax, tip, etc.
  • Transaction date.
  • Authorization code.
Wherever Novus credit card processing transaction documentation is not required to include the quantity and a short description of the products or service bought, you could be required to provide documentation with this information to your acquirer in connection to a dispute.

In addition to the requirements listed above, sales receipts for swiped card transactions, including sales at self-service terminals but excluding ones at cardholder activated terminals (CATs) or in no-signature required sales, must feature the customer's authentic, legible signature that is identical with the signature on the back of the card used in the transaction.

Contactless Novus credit card processing sales and biometric transactions are considered swiped payments, provided that the latter are not subject to a chargeback to a processor or merchant because the authorization request did not provide CVV data.

In addition to the above requirements, documentation for key-entered transactions needs to include an imprint of the card.

For non-face-to-face transactions, the following information must be included:
  • A note that the security code was included in the authorization request.
  • A note that an address verification request was completed.
  • A note that the processor or retailer obtained a proof of delivery from the courier service that shipped the products as instructed by the customer.
No-signature-required types of card transactions conducted by Novus credit card processing retailers, will not be subject to a dispute for failure to get the customer's signature on the sales Receipt if (a) the magnetic stripe data are transmitted to the acquirer with the authorization request, and (b) the sale's amount is $25.00 or lower.

In response to a ticket retrieval request for some types of payment transactions (for example sales conducted at CATs and Self-Service Terminals), the processor or retailer may provide a substitute transaction documentation that must contain all of the data listed above.

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