Cancellations

Overview

This report only applies to you if you offer a subscription service or if you're MCC = 6012 (a domestic Financial Services provider). If so, you will be more than familiar with collecting payments on a monthly/bi-monthly cycle.

When customers sign up for your subscription service and agree to pay or ‘re-pay’ a certain amount on a recurring basis, they are giving you their Continuous Payment Authority (CPA) – it’s like a recurring debit on your bank account.

What if they decide to revoke that permission?

We are notified before you try to collect funds if the CPA has been recalled/cancelled. All the cancellations that you have received are collected and displayed here.

The information is conveniently presented as a list of all the cancellations showing each transaction’s specific details such as the cardholder name and the transaction IDs - allowing you to identify the cancelling customers and update your future processing.

Report Parameters

Parameter Description
Card Type The card scheme the card belongs to (Visa/MasterCard/AmEx).
MID The API MID (Merchant Identification Number) we issue to merchants.
Company Name Simple - the company name.
Parent ID The transaction ID used within the REBILL request. See recurring for further information.
Recieved Date The date Acquired.com received the Cancellation alert.
Transaction Date The date of the transaction that the customer issued the cancellation request.
Transaction ID The unique Acquired.com reference passed back in each response message.
Cardholder Name Cardholder’s name as entered into the HPP.
Card Number Masked credit or debit card number used for the transaction.
Currency Transaction currency, an ISO 4217 3-digit code.
Amount The transaction amount that was collected.

Recommendations

It is considered best practice when you receive a cancellation from a customer, to complete the following actions:

  • Contact the customer.
  • Update your internal systems.
  • Cease any further processing.
Key Fact - If you continue to process against customers that have cancelled their CPA, a fine can be incurred.