A reversal transaction is an equal but opposite transaction to a previously successful transaction. This is typically a refund (i.e. a credit following a debit). A reversal typically results in both legs of the transaction being shown on the merchants and cardholders’ statements.
A merchant may initiate a reversal any time after a transaction was processed. A merchant can perform the reversal either by:
- performing a follow up transaction within 6 months of the original iVeri transaction, or
- initiating a new transaction request with the cardholder’s details.
A Reversal should not be confused with a Void transaction