Glossary of Terms: R
RAM
Random Access Memory - short-term memory for a computer or payment card terminal.
Re-authorization (Re-auth, Add. Auth)
To request an additional amount to be authorized on an existing transaction. Used in the lodging industry when the original authorization is not sufficient to cover the charges.
Reason Code
A two-digit code identifying the reason a chargeback was initiated.
Recurring Transaction
A transaction charged to a cardholder's account (with prior permission) on a periodic basis for recurring goods and services, i.e., health club memberships.
Referral
The message received from an issuing bank when an attempt for authorization requires a call to the Voice Authorization Center.
Refund
A refund occurs when the merchant rebates all, or a portion, of an original transaction's amount to the cardholder. Refunds are made to the same card that was used for the original transaction. Similar to a Credit.
Representment
An attempt to reverse a chargeback initiated by a merchant or acquirer to the issuing bank that presented the chargeback, backed by supporting documentation.
Retail Transaction
A face-to-face transaction in which the cardholder presents a card to the merchant to pay for goods or services.
Retrieval Request
A request by the issuer to the acquirer for a copy of the original sales ticket.
Reversal
When an acquirer successfully represents a chargeback to the issuer, the chargeback is reversed and the funds are returned to the merchant.
