Reason Code: A code used to provide additional information to the receiving clearing member regarding the nature of a chargeback, subsequent presentment, fee collection, funds disbursement, or request for a source document.

Receipt: A hard copy description of the transaction that took place at the point-of-sale, containing at minimum: date, merchant name/location, primary account number, type of account accessed, amount, reference number, and an action code.

Recurring Transaction: A transaction charged to the cardholder (with prior permission) on a periodic basis for recurring goods and services, i.e., health club memberships, book-of-the-month clubs, etc.

Reference Number: A twenty-three (23) position number assigned by the acquiring member and used to identify a transaction.

Referral: The message received from an issuing bank when an attempt for authorization requires a call to the Voice Authorization Center or Voice Response Unit (VRU).

Regional Network: A network which processes debit transactions for financial institutions and retailers in a given geographic area. Regional networks are not part of the national interchange system.

Remittance Information: Information required by the biller to post customer bill payments effectively.

Remittance Processing Service: An electronic routing and settlement service that accepts previously captured and authorized payment transactions from members for delivery to other financial institutions.

Rental Agreement: A detailed contract with the cardholder indicating all charges the cardholder is responsible for.

Representment: A transaction presented to the issuer by the acquirer, when the merchant requests a reversal of a chargeback.

Retention Period: The minimum time the member must retain microfilm or other reproduction of interchange paper and chargeback documentation.

Retrieval Request: A request by the issuer to the acquirer for a copy of the actual ticket of a transaction. The initial step that the issuer takes in the event that either the issuer or the cardholder disputes a transaction.

Roll Printer: A dot matrix printer connected to a POS terminal and used to print receipts and reports on carbonless roll paper. Not an imprinter.