Retrieval‌ ‌requests:‌ ‌A‌ ‌comprehensive‌ ‌guide‌ ‌| ONE BCG

Though chargebacks are a regular occurrence globally, retrieval requests are an essential part of the payment dispute process, but they are usually underestimated. 

At times, a retrieval request termed a "soft chargeback" occurs when a credit card issuer asks a merchant for the details of a transaction they do not recognize & want to validate.

Understanding the reasons for retrieval requests
Retrieval can happen for various reasons, including probable fraud, a customer's dissatisfaction with the transaction, incorrect or missing transaction information, or a processing gateway issue.

In general, merchants are served with retrieval requests for various reasons:
  • The customer forgets about the purchase or doesn't identify the transaction information on the bank statement.
  • The credit card statement shows a different amount than the agreed-upon amount.
  • The customer forgets about the purchase or doesn't identify the transaction information on the bank statement. 
  • The issuer considers a specific transaction as fraudulent.

How do retrieval requests work?

Responding to retrieval requests:
If you want to reduce the risk of a retrieval request turning into a chargeback, the merchant needs to:
  • Make sure the documents have transparency and legibility.
  • Respond quickly to the requests and before the deadline.
  • Provide a complete list of compelling evidence.
The legitimate information while responding to the retrieval request must include:
  • Clear invoice/receipt
  • Complete information about your company, service,/product delivery.
  • Transaction information – Date, amount, and acquirer reference number
  • Authentication of the transaction (phone, email, fraud screen, etc.)
  • Comprehensive refund info(in case the refund has already been initiated)

Time frame to respond
The card network involved in the disputed transaction sets the time limits for retrieval requests. 

Effectively responding to retrieval requests & fighting chargeback fraud requires training. Merchants need reliable information identifying where fraud is coming from and a thorough understanding of how to respond to the requests. The industry is going through radical change to serve as a basis for long-term, positive change.

At ONE BCG, we offer a comprehensive solution to fight the chargeback & retrieval. If you are interested to know how, please get in touch with us.

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