My Merchant Account Blog

Visa Chargeback Reason Code 74 - Late Presentment

Thursday, December 01, 2011

The transaction was not processed within the required time limits and the account was not in good standing on the processing date, or the transaction was processed more than 180 calendar days from the transaction date.

Most Common Causes

The merchant or service establishment did not deposit the sales receipt with its acquirer within the time frame specified in its merchant agreement.

Possible Remedies

Sales Receipt Deposited on Time

If the sales receipt was deposited within the time frame specified by your acquirer, ask your acquirer to forward a copy of the receipt to the card issuer.

No Remedies

Sales Receipt Deposited Late—Account Closed

If the sales receipt was not deposited within 10 to 180 days of the transaction date and the cardholder account has been closed, the chargeback is valid.

For multi-location, centrally accumulated merchants (e.g., travel and entertainment, service stations), if the sales receipt was not deposited within 20 to 180 days of the transaction date and the cardholder account has been closed, the chargeback is valid.

Sales Receipt Older than 181 Days

If the sales receipt was deposited more than 181 days after the transaction date, accept the chargeback. (In this situation, the cardholder’s account status is not a factor.)

Preventative Measures

Deposit Timing Guidelines

Deposit sales receipts with your acquirer as soon as possible, preferably on the day of the sale or within the time frame specified in your merchant agreement.

Manual Deposit of Paper Sales Receipts

If you deposit paper sales receipts, ensure that your staff deposits them on a regular schedule within the time frame required by your acquirer.

Transaction Data Capture Terminals

Transaction data capture sales terminals allow you to electronically deposit your sales transactions after you have balanced them each day. If you currently process deposits manually, consider the costs and benefits of a transaction data capture system at the point of sale. Electronic cash registers are another option. They can be set up so that your transactions are automatically deposited in batches or on a real-time basis.

Source: Chargeback Management Guidelines for Visa Merchants

For More Information, please see our archived documents.

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