When taking a Payment from an existing transaction users will now be asked to select a Merchant Initiated Transaction (MIT) Reason Code.
This is a compliance requirement of the 'Visa Transaction Framework' for Credential on File (CoF) initiated transactions.
Users must select from the following list...
- Reauthorisation - Seeking re-authorisation due to a previous authorisation expiring.
- Used when an authorisation (Guarantee) has been taken, but has expired (Rarely used).
- Unscheduled Payment - Unscheduled transactions that are triggered when a pre-defined event occurs.
- Used when the Merchant and Cardholder have an agreement that is not tied to recurring schedule, but instead to a predefined event. For example, when the guests balance reaches an agreed level or using Credentials on File (CoF) to take payment prior to arrival.
- Delayed Charges - Additional charge is required after the original transaction has been completed.
- Used when associated with an agreement between the Merchant and Cardholder for services rendered. For example mini-bar charges after the guest has departed.
- Resubmission- Re-submitting an authorisation that was previously declined. e.g. due to insufficient funds.
- Used when the original Cardholder Initiated Transaction (CIT) was declined due to insufficient funds. Only valid for a limited number of days after the original CIT attempt.
- No Show - Customer is charged for not showing up for a reservation as per your terms and conditions.
- Used when the Merchant and Cardholder have an agreement for a purchase but the cardholder does not meet the terms of that agreement.
The inclusion of these MIT Reason Codes is aimed to assist with successful authorisations and helps reduce the likelihood of chargebacks.