Understanding Credit Card Service Code List
As a consumer, navigating the complex world of credit card services can be overwhelming. With numerous codes and abbreviations in use, it’s easy to get confused about what each one means. In this article, we’ll delve into the world of credit card service codes, exploring their significance and providing you with an extensive list of commonly used codes.
Introduction
The credit card service code list is a crucial tool for merchants, payment processors, and consumers alike. These codes are used to facilitate transactions, identify specific types of cards, and provide a standardized language for communication between parties. In this article, we’ll explore the key points you need to know about credit card service codes.
Key Points
To get the most out of your credit card services, it’s essential to understand these key concepts: 1. Central Merchant Database (CMD): The CMD is a centralized database used by payment processors to store information on merchants and their transactions. This code is used to identify the merchant and verify their identity. 2. Card Verification Value (CVV): The CVV is a three- or four-digit code printed on the back of credit cards. It’s used to verify the cardholder’s identity during online transactions. However, some merchants may ask for additional verification steps due to security concerns. 3. Autorization Code (AuCode): The AuCode is an eight-character code that accompanies a card transaction. It provides detailed information on the type of transaction, including the merchant’s name and the card’s expiration date. 4. Card Type Identifier (CTI): The CTI code identifies the specific type of credit card being used. This can include Visa, Mastercard, American Express, or Discover cards. 5. International Transaction Code (ITC): The ITC code is used to identify international transactions and ensure that the correct exchange rates are applied. 6. Batch Number: The batch number is a unique identifier for each transaction group. This code helps payment processors track and verify transactions more efficiently. 7. Transaction Type Code (TTC): The TTC code identifies the type of transaction, such as credit sale or return. 8. Card Brand Code: The card brand code is a unique identifier for each major credit card brand, including Visa, Mastercard, and American Express. 9. Card Expiration Date (CED): The CED is the expiration date of the credit card, usually represented by a four-digit number. 10. Card Verification Method: The card verification method specifies how the merchant intends to verify the cardholder’s identity during transactions. 11. Tokenized Card Code: The tokenized card code represents the sensitive payment information of a credit card in an encrypted form. This code is used for secure online transactions. 12. Credit Limit Code: The credit limit code specifies the maximum amount that can be charged to a credit card account during a transaction. 13. Cardholder Type Code: The cardholder type code identifies whether the cardholder is an individual, business, or other type of organization. 14. Merchant Category Code (MCC): The MCC code categorizes merchants based on their industry and activities. 15. Affiliate Merchant Code: The affiliate merchant code is used to identify online retailers who partner with credit card issuers to offer co-branded cards. 16. Reseller Merchant Code: The reseller merchant code identifies merchants who purchase cards in bulk from credit card issuers and resell them to consumers. 17. Pending Transaction Code: The pending transaction code indicates that a transaction is being processed, but has not yet been finalized. 18. Settled Transaction Code: The settled transaction code signifies that a transaction has been successfully completed and cleared through the payment processing network. 19. Capture Code: The capture code represents an incomplete or partial transaction that requires further verification or processing. 20. Return Code: The return code is used to identify returned items or transactions that need to be cancelled or reversed. 21. Refund Code: The refund code specifies the amount of a refund or credit being issued to a cardholder. 22. Chargeback Reason Code: The chargeback reason code provides a detailed explanation for why a transaction has been disputed by the cardholder. 23. Error Code: The error code indicates that there’s an issue with the payment processing, such as an invalid or declined transaction. 24. Credit Limit Exceeded Code: The credit limit exceeded code is used to indicate that the merchant’s credit limit has been reached during a transaction. 25. Authorized Amount Code: The authorized amount code specifies the approved transaction amount, taking into account any applicable discounts or surcharges. 26. Total Transaction Value Code: The total transaction value code represents the final amount of the transaction after all adjustments have been applied. 27. Refund Reason Code: The refund reason code provides a detailed explanation for why a refund is being issued to a cardholder. 28. Cancellation Code: The cancellation code indicates that a transaction has been cancelled, and no further processing will be done on the transaction. 29. Voided Transaction Code: The voided transaction code signifies that an attempted transaction was unsuccessful due to insufficient funds or other reasons. 30. Payment Status Code: The payment status code provides a detailed explanation of the current payment status, including any outstanding balances or pending transactions. In conclusion, understanding credit card service codes is crucial for merchants, payment processors, and consumers alike. By familiarizing yourself with these 30 key codes, you’ll be better equipped to navigate the complexities of credit card transactions and avoid costly errors. Summary: The credit card service code list is a vital tool for facilitating secure and efficient transactions. By grasping the meaning behind each code, you can optimize your payment processing workflow, reduce errors, and provide better customer experiences. Whether you’re a merchant, payment processor, or consumer, having an in-depth understanding of these codes will help you succeed in the ever-evolving world of credit card services.