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. |
| Received 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.