As of May 18, 2011, Visa amended Reason Code 74 “Late Presentment” to state “If transacrtions are not batched/settled within 10 days from the date of the transaction, Visa mandates that card-issuing banks use chargeback Code 74 for “Late Presentment” to issue a chargeback notice. Merchants will lose the transaction in question.”
In order to avoid late batch chargebacks, we recommend merchant to settle/batch out at the end of each business day but no later than eight days.
Sintel Systems is the only direct to end user full-service provider of tailored Point of Sale systems across retail, restaurant and service industries, including frozen yogurt shops, pizzerias, sushi restaurants, and coffee shops.
As a single source for business solutions, our experienced, knowledgeable team negotiates the complex POS landscape for you to enable you to find the right POS system for your business and budget. Hardware – Software – Support