04/20/13 Visa and MC Retrieval Codes — removed retired codes MC Reason Code 37Under Visa’s previous chargeback rules, merchants could contest a reason code 10. [noun]/cē • vē • vē • tö • kōd/. 3 Other Fraud - Card-Present Environment 62 (3)In 2016, Mastercard chargeback reason codes were condensed and consolidated, in a restructuring that resembled Visa Compensation Resolution. American Express, Discovering, Visa. But what you really need to know is that what’s happening isn’t actually a rise in chargebacks. Chargeback Reason Codes List for Mastercard Chargeback Code Chargeback Reason 4801 Requested Transaction Data Not Received 4802 Requested / Required Information Illegible or Missing 4807 Warning Bulletin File 4808 Requested / Required Authorisation Not Obtained 4812. The EMV Liability Shift caused most merchants to upgrade to EMV payment technology, which is much less vulnerable to fraud than traditional magnetic strips. An acquiring bank or acquirer is the merchant's bank. Despite being the smallest of the four major credit card companies, the list of Discover chargeback reason codes is extensive. Use the correct CVM (Cardholder Verification Method). Visa Chargeback Reason Codes; MasterCard Chargeback. This is now an obsolete reason code, and issuers have been instructed to use code 4808 instead. For chargebacks due to late delivery, a return must be attempted first. 10. 4854 Cardholder Dispute—Not Elsewhere Classified (U. 3: Other Fraud — Card Present Environment:Chargebacks: Your Guide to Reducing Hassle and Cost. POS entry mode, card service code and terminal entry capability (TEC). This rule will fully extend to Visa 3-D Secure 2. . The most common downside of SMS verification is that it adds a layer of friction to the purchasing process, which means there’s a chance that customers will get annoyed, have second thoughts, and abandon their shopping cart. 2 Declined Authorization; 11. Chargebacks. S. American Express Chargebacks / Disputes. 2 – Incorrect Transaction CodePrinceton Junction, N. 0 : Unknown/Unspecified : 1 : Non-Receipt of Requested Item : 12 :. You can retry the transaction up to two times within 30 days of the original authorization date. without a reason code will be assigned a default code of 1. Use this report to check the status of all chargebacks disputes and retrieval notifications within the report range. A few other common reason codes for Visa include late presentment; non-receipt of cash from ATM; invalid data; EMV liability shift non-counterfeit fraud; no authorization; canceled merchandise and fraud related to stolen cards on the card recovery bulletin. Pursuant to the Fair Credit Billing Act of 1974, cardholders have the right to dispute unauthorized or erroneous charges, and issuing banks must reverse a disputed transaction if the cardholder’s claim is valid. Take the time to note the following dispute reason codes for Visa. The merchant can choose whether or not the reason makes sense and. 2. Some of these reason codes are specifically designated to apply to authorization-related issues. 1. 11. 1 Category Fraud. Merchant service providers—the vendors who provide web hosting, e-commerce software, anti-fraud tools, and chargeback management—must also maintain PCI DSS compliance, or the merchants who use their services may be liable for data breaches regardless of their own compliance status. He then pays with his credit card which shows a denial so he presents another card to the merchant. What if the terminal cannot read the chip on a card? 9. When a chargeback is filed, a bank selects the code. When a chargeback is filed, a bank selects the code that best fits the reason a chargeback was filed. 10 . The Visa 10. Steps to Prevention. What causes code F31 chargebacks? This reason code is supposed to be used only when an EMV chip card has been stolen by a fraudster, and a card-present merchant uses the magnetic stripe or a manual. The reason codes help merchants understand the reason for particular chargebacks and better tailor their responses to chargebacks. 10. S. Like other chargebacks, claims that EMV transactions were counterfeit can be. , August 17, 2016 –Issuers, acquirers and merchants looking to fully understand new types of EMV-related chargeback reason codes that have been established for both counterfeit and lost/stolen fraud can get answers to their questions at a U. Other Ineligible Transactions Under Reason Code 62, Condition 2 . Visa Chargeback Reason Codes. 3 No Authorization. 1: EMV Liability Shift Counterfeit FraudPreventing chargeback Reason Code 62. What follows is a quick reference guide for all the current reason codes for each of the four major credit card networks: Visa, Mastercard, American Express, and Discover. It can also occur when a merchant sends an authorization request for a magnetic stripe or EMV chip transaction on a counterfeit card,. Each bank card network has its owner list of reason codes banks must prefer from. The first liability shift went into effect in October 2015 and covered almost all card-present transactions except for those that take place at ATMs and gas pumps. There are dozens of different chargeback reason codes spread across the different card networks, which correspond to hundreds of different chargeback triggers. Use EMV-Compliant Equipment. 13. EMV, Mobile Wallets, and Virtual cards are the next generation payment solutions that are changing the way payment industry works. Since October 1, 2015, merchants accepting card present (CP) transactions that are not equipped with an EMV card reader. That said, the code is still operation, at least for now. As per OC 317, the Acquirer liability under the EMV liability shift process is applicable only where the Card is EMV chip enabled and the ATM is non. Which fraud reason codes will be included in EMV Liability Shift? How are Lost/Stolen transactions affected? A. S. . For defects or “Not as Described” cause codes, the 120-day period may still apply, although “Day One” will vary depending on the circumstances. • Chargeback Reason Code – Each chargeback contains a reason code that signifies the reason for the dispute and the rules that must be followed by the issuer and the merchant in order to resolve the dispute. S. Category. 1=1010, 10. 1: The chargeback time limits may be altered if the resources were assumed to deliver after the execution time period of the payment also. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. The EMV SRC system can use device information to pull customer and card information through the system and automatically verify the customer. Chargebacks for card-present transactions have jumped by 50% since the Oct. Yes, card skimming is still a concern. The ECI value tells you what to do next in a 3DS transaction — proceed, reject the purchase, or try again. The following is a full list of Chargeback Reason Codes for the card schemes that Zai supports. Chargebacks can be a costly part of accepting card payments and entail administrative. The best way to prevent code UA11 chargebacks is to use EMV-compatible payment terminals and always use the EMV chip to process transactions, avoiding using the magnetic stripe or keyed. 3: Other Fraud Card Present:The first of such announcements came from Visa in a June 16th press release, which detailed counterfeit chargeback policy changes benefiting merchants. The U. Q. Chargeback Reason. Use this guide as a quick resource for Visa chargeback reasons at a glance. Contactless payment fraud can refer to any attempt to gain cardholder account. These new chargeback reason codes are a result of. The code is now considered obsolete; Account Number Not on File chargebacks should be filed under reason code 4808. S. 6). Payments Forum (formerly the EMV Migration Forum). technology. Provide exemplary customer service. Once filed, the merchant generally has 20. Card Brand Code Description Days to Dispute Dispute Category; Amex: A01: No Valid Authorization/Excessive Amount: 120: Authorization:Networks offer an added program benefit for merchants implementing EMV 3DS – a liability shift on fraudulently reported chargebacks. 1 – Late Presentment 12 . Cardholder Disputes. Issuers must not initiate a chargeback for magnetic-stripe (POS Entry Mode value of 90 or 02) transactions onThe chargeback reason codes were created to standardize the list of acceptable reasons a bank may submit a card chargeback or a direct debit chargeback on behalf of its customer. Some payment service providers like PayPal and Stripe have their own reason codes as well. 1 EMV Liability Shift Counterfeit Fraud 81(3) 10. Corresponding Retrieval Reference Numbers mapped for the same Card Number and ARN in Chargeback application. In 2021, the last parts of the EMV liability shift. While the format of chargeback reason codes. 5: The chargeback under normal situations should be executed in under 120 days in all religions other than US Domestic. All chargebacks start with a customer making a purchase in person, in an app, or online. Proof that the chargeback is invalid because it doesn’t adhere to Mastercard requirements. The shorthand description is “Account Number Not On File. Reason code 12. 2. The chargeback reason code provides distinctive information about the dispute category to both the acquirer and the merchant to help resolve the dispute. Be aware that Cartes Bancaires chargebacks with reason code 45 are not defendable. The Visa chargeback reason codes system underwent a major overhaul in April 2018 as part of their new Visa Claims Resolution (VCR) initiative. Reason Code Reason. If you do perform a key-entered transaction, make a manual imprint of the card. George goes to an ice cream place and orders bars for all his friends. In simple terms, an Electronic Commerce Indicator (ECI) is basically a 3-D Secure response code. 4846 — Incorrect Currency Code. The tickets were held at the box office, and no signature, swipe or imprint of the card was obtained when the tickets were released. 2 EMV Liability Shift Non-Counterfeit Fraud: Mastercard: 4870 - Chip Liability Shift 4871 - Chip/PIN Liability Shift: Discover: UA05 - Fraud Chip Card Counterfeit 4871 - Fraud Chip and Pin Transaction:The Mastercard chargeback reason codes were condensed down in 2016, like the process that Visa just underwent with Visa Claims Resolution. 2 EMV Liability Shift Non-Counterfeit Fraud; 10. Despite that fact, AFD operators — those using merchant category code 5542 (automated fuel dispensers) or 5541 (service station) — were exempted from EMV liability rules for several years. 10. This list was generated 5/4/2022. Always use the correct cardholder verification method—signature, PIN, etc. e. until 1 October 2017. EMV compliance is an industry standard, but there is no law in the United States that requires businesses to be EMV compliant. Reason Code Reason Description; 10. , Visa uses a two-digit code; Mastercard uses a four-digit code. migration to EMV chip payments and accompanying fraud liability shifts, new types of chargeback reason codes have been established for both counterfeit and lost/stolen fraud that issuers, acquirers and merchants need to fully understand. 2 – EMV Liability Shift Non-Counterfeit Fraud. American Express Chargebacks / Disputes. It’s vital that you know the chargeback’s reason code so you can properly craft your response. EMV Liability Shift Non-Counterfeit Fraud. 11. See our Automated Clearing House (ACH) support article if you are looking for ACH Return Codes. 10. Once filed, the merchant generally has 20. 51 - Insufficient Funds. Typically, a fraudster clones a credit card by using a skimmer device or by copying stolen credentials purchased on the dark web. UA10 Request Transaction Receipt (swiped card transactions) UA11 Cardholder claims fraud (swiped transaction, no signature)The most comprehensive guide to chargeback reason codes. Specifically, these updates only pertain to transactions that are charged back after Oct. Examples of compelling evidence that you may submit in response to a chargeback with this reason code include: Proof your POS device can support chip card transactions. Please see the below “cheat sheet” for the new 4 byte reason codes. 1. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. Now, 10. Mastercard Chargeback Reason Code 73: Duplicate Transaction. The use of with EMV. ; Help Center Find answers to common questions about Midigator’s technology,. 4860 Credit Not Processed. EMV fraud prevention technology is a product of EMVCo. EMV (so called because it was developed by EuroPay, Mastercard, and Visa) cards create a unique encrypted code for each transaction. 65 - Withdrawal limit exceeded: The transaction would exceed the maximum. Why did I receive this dispute? The cardholder has a PIN-preferring chip card, but you didn’t use a chip-reading device to process the transaction or used a chip-reading device that wasn. 6. Payments Forum (formerly the EMV Migration Forum) webinar, “EMV Chargeback Best. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. Get your complete guide to Mastercard reason codes, including all the detailed information, chargeback time limits, and other important information you need. Preventing Mastercard Reason Code 4837 Chargebacks. For example, if: The cardholder no longer wishes to dispute the transaction. 2: EMV Liability Shift Non-Counterfeit Fraud: Visa: Fraud: 10. 3. . Prior to to, Mastercard’s list of reason colored was long, convoluted, and confusing; currently there been fewer than ten different reason codes relevancy to majority merchants. Indicates whether the Europay, MasterCard, and Visa (EMV) data was submitted with the payment data. A chargeback reason code is a number that helps to inform a hotel why a chargeback was filed. In theory, reason codes help merchants understand why customers dispute purchases. The number of in-person fraud attacks attempted in the UK has dropped by 69% since 2004. S. These are only a handful of common Visa chargeback reason codes. Despite being the smallest of the four major credit card companies, the list of Discover chargeback reason codes is extensive. Digital marketing firm Juniper Research predicted that the use of QR codes for electronic payments in the US will increase by 240% from 2020 to 2025. Signatures and IDs can be forged, and a cardholder’s ZIP code is often easy to guess. The Stakes: Ignoring reason codes can lead you to confuse valid chargebacks for problematic ones. 10. This is an independent consortium drawing its name from the three card brands—Europay, Mastercard, and Visa—that first launched the technology. 2 – Incorrect Transaction CodePrinceton Junction, N. P04 – Charge Processed as Credit. You’re right. 1, which covers duplicate processing errors, and 12. American Express chargeback reason code F30 falls under the “Fraud” category. The new codes, which can be found in our reason code guide, start with a two-digit number indicating which of Visa's four dispute categories it falls into: 10 — Fraud; 11 — Authorization; 12 — Processing Errors; 13 — Consumer Disputes; The Visa Claims Resolution dispute process supporting documentation in first chargebacks for chargeback reason code 4863 (Cardholder Does Not Recognize). 3 – Other Fraud. 11. Visa's Reason Code 62, MasterCard's Reason Code 4870/4871 are new and only related to EMV, so. 2 Declined Authorization. The U. 2 – Incorrect Transaction CodeA chargeback is a return of money to a payer of a transaction, especially a credit card transaction. CVV2. Paymentology will submit the chargeback using the appropriate chargeback reason code. Merchants who receive a chargeback for a transaction placed with an American Express card may encounter reason code F29, which indicates an unauthorized transaction that the cardholder does not believe they should be responsible for paying. October 15th of 2021 marked the six-year anniversary of EMV implementation in the US, as well as the fraud liability shift. EMV Liability Shift Non-Counterfeit Fraud. 3 – Other Fraud- Card Present Environment. The Visa chargeback reason codings system underwent a major overhaul in May 2018 as part of their new Visa Claims Resolution (VCR) initiative. A08 Authorization Approval Expired. The list of chargeback reason codes in this article is organized by card brand and type of dispute. 1. Chargeback reason code 10. PRINCETON JUNCTION, N. EMV: No. Recognize. , a First Data company. reason code information. EMV-enabled terminals will return a terminal capability code of 5. For digital goods, two or more of the IP address, device ID, or. The request is usually made when the cardholder is disputing a charge on their credit. 17, 2016 -- Issuers, acquirers and merchants looking to fully understand new types of EMV-related chargeback reason codes that have been established for both counterfeit and lost/stolen fraud can get answers to their questions at a U. The chargeback report shows the status of all chargeback disputes. To help merchants understand the underlying issue of each chargeback, American Express has created specific chargeback reason codes to help business owners interpret chargebacks. Reason Code – 13. 4: Counterfeit Europay, Mastercard, or Visa (EMV) card: F30: UA05 or UA06: 10. | The Right to Reason Codes. The terminal was not EMV compliant. It’s just what it sounds like—the reason they’re fighting the charges. Overview. 4% of all transactions worldwide are made with EMV chip cards, which has led to a precipitous drop in card-present fraud. issuers must not initiate chargebacks for any AFD or ATM transactions outside the U. M10 Vehicle Rental – Capital Damages. 4859 Addendum, No-show, or ATM Dispute. 2, which specifically deals with transactions billed by other means. Your actions in response to such a chargeback will be determined by the particular circumstances, as listed in the table below: If:. This means that even if the consumer makes a purchase through a guest checkout, they can, if they use the same device, make a purchase as a guest without entering card or payment information. The following chargeback reason codes are related to EMV: Visa: 10. Evidence for Dispute Responses When Under VFMP. You can learn more about each one by vising their VISA Chargeback Management Guidelines resource. 5 Visa Fraud Monitoring Program. Written by Chargeback Gurus FAQ: Which is Chargeback Representment? TIPS: Chargeback AccountingFortunately, chargeback reason codes make it easy for merchants to understand the cause of chargebacks. They are provided to the. About Discover chargeback reason codes. There may also be limits on how much cash a customer can withdraw in a given time-frame. P08 – Duplicate Charge. 2 – EMV Liability Shift Non-Counterfeit Fraud. for certain fraud chargeback reason codes: Visa 10. The actual underlying cause of this chargeback is. txt) or read online for free. 1% of Visa transactions are chip-on-chip2 •Goal of EMV: Prevent card-present fraud at the retail POS1. A02 No Valid Authorization. If a retrieval request is ignored, it will often result in a chargeback, and the merchant will have given up their right to fight that chargeback by ignoring the request. EFM MONTHLY CRITERIA NUMBER OF E-COMMERCE TRANSACTIONS FRAUD CHARGEBACK AMOUNT FRAUD CHARGEBACK RATIO BASIS POINTS (BPS) 3DS UTILIZATION (EMV 3DS + DATA. 2 : Declined Authorization :. Thanks for following the Chargeback Gurus blog. Cost. Visa chargeback reason code 75 is filed as an honest mistake. The VFMP and the VDMP each have three categories: standard, high-risk, and excessive. A dispute often has a reason code associated with it. If using any other currency than this, it should be equivalent to the specified amount. Learn about the different chargeback reason codes and what they mean. 5: Visa Fraud Monitoring Program:What is Visa Reason Code 11. It is likely that card “shimmers,” or EMV skimmers, were involved in most of these reported scams. online) purchase. Proof you have already refunded the transaction and credited the cardholder’s account. Because it’s so easy for customers to initiate a chargeback, retailers are bound to experience a request at. 0 program activation date, merchants will notShe later changes her mind and cancels her order for which she didn’t receive the code. A chargeback reason code is a 2-to-4-digit alphanumeric code provided by the issuing bank involved in a chargeback, which is meant to identify the reason for the dispute. A chargeback reason code. Always process cards using the magnetic stripe or EMV chip—manual keying should only be used in an emergency. 10. Category. Everyone from processors and card brands to local and federal governments has rules about how payments should be handled. AT Authorization Noncompliance. A chargeback happens when a customer requests for a transaction to be. 10. 2 - EMV Liability Shift Non-Counterfeit Fraud. 13. Credit card chargeback reason codes broken down by Mastercard, Discover and American Express Visa chargeback reason codes. Get your complete guide to Amex reason codes, including all the detailed information, chargeback time limits, and other important information you need. The request is usually made when the cardholder is disputing a charge on their credit. 10. Attacks were up nearly 700% in just the first half of 2022. The EMV Contactless Kernel Specification lays out the technical requirements for contactless EMV-compatible software kernels. S. Region Only) 4855 Goods or Services Not Provided. What causes code F31 chargebacks? This reason code is supposed to be used only when an EMV chip card has been stolen by a fraudster, and a card-present merchant uses the magnetic stripe or a. Step 3: Train your staff on how to process EMV transactions. 5: Fraud (10) Visa Fraud Monitoring. 1: EMV Liability Shift Counterfeit Fraud: The cardholder is claiming that they did not authorise or participate in a transaction that you processed. 05. Chargebacks for card-present transactions have jumped by 50% since the Oct. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. Major card networks including Visa, MasterCard, Discover and American Express have different reason code systems. This code is unique—at least currently—in that Visa has since split it into two separate categories: 12. The shorthand description is “EMV Counterfeit. This chargeback occurs when merchants do not adequately provide currency information. These banks work with credit card networks to offer credit to customers. It was originally just one facet of legacy reason code 81. A chargeback reason code is a numerical code that indicates the reason why a customer has disputed a charge on their statement. Use standard authorization criteria with Issuer - not eligible for chargebacks: 1: CAVV failed verification (authentication) - Issuer approves authorization:. The terminal action codes are in Table 122 of the 4. 14 - Invalid Card Number. 1 chargeback code is used when a counterfeit transaction has occurred and there has been an EMV liability shift. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. migration to EMV chip payments and accompanying fraud liability shifts, new types of chargeback reason codes have been established for both counterfeit and lost/stolen fraud that issuers, acquirers and merchants need to fully understand. Learn which strategies to use as you fight and prevent consumer disputes by reason code. S. However, it may also have. 1. M01 Chargeback Authorization. Chargeback reason code 10. Other Fraud—Card Present Environment. You could also end up submitting the wrong evidence, which will cost you time, money, and standing with the bank. Thanks for following the Chargeback Gurus blog. 12. The new reason codes follow a format of two digits, a period, then a third digit. 65 - Exceeds Withdrawal Frequency Limit. The shorthand description is “Warning Bulletin File. All of Visa’s existing reason codes were condensed into four principal groupers: fraud, authorization bugs, handling errors, and customer. See moreWEX has repurposed chargeback reason code 10 to indicate EMV chargebacks. 3 Other Fraud - Card Present Environment;. The data is tokenized, meaning that substitute, one-time-use data is transmitted in place of the valid card information. About Visa chargeback reason codes. American Express Merchant Official Documentation. Equally, U. 2. 5. 13. Expired Chargeback Protection Period. Every merchant’s situation is different, and the right combination of tools and methods for one merchant may be less effective for another. If the merchant is not EMV-compliant, the liability for a fraudulent transaction shifts from the card issuer to the actual merchant. Transaction was approved by the Issuer knowing that the authentication data failed verification and was not reliable Transaction is not eligible for Reason Code 75 or 83: 9 Reason Code List. 10. Chargeback reason code 4870 has to do with whether or not the merchant in question has installed and is using terminals that can accept EMV or “chip” payment cards. Laundering: The merchant carried out transactions without a legitimate cardholder’s involvement. Reason code 4870 – Chip Liability Shift; Reason code 4871 – Chip & PIN Liability Shift ; How can I actively prevent fraudulent chargebacks? Depending on your workflow or third-party integration use, it may curb chargeback risk to have your guest present payment upon pickup so that it can be processed by the more secure EMV chip. The first step to preventing MasterCard Reason Code 4870 chargebacks is to use EMV-compliant equipment. Therefore, the issuer may submit a chargeback for a Payment Transaction using the message reason code 4842 before the 30-calendar day presentment time frame normally required for this message reason code. This reason code is not supposed to be used for contactless payments, digital wallet payments, or charges that qualify for the “No PIN” program. Batch chargeback process. Since these disputes come from the issuer, a merchant response is allowed only under certain conditions. F31:. The tool then uses data to project where future chargebacks will come from and how to either prevent them or fight them through chargeback representment. What is the solution for CNP? 11. That should certainly tell us something about how chargebacks are perceived, and how. Visa uses four main categories to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. Understanding these reason codes can help you identify the cause of the chargeback and take steps to prevent it from happening again in the future. Responses to retrieval requests that are over 4 pages will. 2=1020 etc. Even though these codes are not detailed enough, they are crucial when it comes to successfully preventing and fighting chargebacks. Visa chargeback reason code 10. A CSC is a three or four digit number printed (not embossed) on a credit card. Mastercard SecureCode is an effective solution for preventing true fraud chargebacks on Mastercard-branded cards, with the caveat that only enrolled cardholders are required to use it. g. It’s important to look up the code to understand why a transaction, good, or service was disputed in order to properly present a solid case to win the chargeback. In simple terms, an Electronic Commerce Indicator (ECI) is basically a 3-D Secure response code. Mastercard specifies 21 reason codes under the categories of Fraud, Authorization, Point-of-Interaction Error, and Cardholder Disputes. Card Network Category Code Description; Visa: Fraud: 10. Learn which strategies to use as you fight and prevent consumer disputes by reason code. April 2018_Chargeback Reason Code Encyclopedia. 3 – Other Fraud, Card-Present Environment. Step 2: Make sure the terminal or system is properly configured for EMV acceptance. Equally, U. EMV Counterfeit: M01: Chargeback Authorization: P01: Unassigned Card Number: P03: Credit Processed as Charge: P04: Charge Processed as Credit:. EMV has been a mostly global standard since 2004. Use correct verification methods – signature and PINs. It is associated with a chargeback reason code, and it is specific per Card Scheme. Your chargeback response must include at least one of the following items: Proof the transaction was authorized and the valid card was not an EMV chip card. 60. The chargeback process allows for cardholders to recover funds in the event of fraud or abuse. Train your staff to process and handle card-present transactions properly. This chargeback reason code applies when a merchant processes a transaction without using the magnetic stripe or EMV card chip data, and the cardholder claims that they did not participate in the purchase. 1 – Late Presentment 12 . and the implementation of payment network counterfeit and lost/stolen fraud liability shifts, chargeback reason codes were established for (1) counterfeit, and (2) lost/stolen EMV chip card transactions covered by those chip liability shifts. Unfortunately, issuing banks always take the consumer’s word without. 2: EMV Liability Shift Non-Counterfeit Fraud: 10. The shorthand description is “EMV Liability Shift Non-Counterfeit Fraud. The Visa chargeback reason codings system underwent a major overhaul in May 2018 as part of their new Visa Claims Resolution (VCR) initiative.