Requesting RBI for Unique Authorization(Approval) Code / Number on Credit Card Transactions

Nothing Really works well in India because the Systems Designers are not really passionate about their job nor delivering world class systems with excellence in customer satisfaction.

During the course of being a free adviser to the community through “CardBhai.Com”, I have seen lots of cases of disputed transactions where the Banks harass the consumer even though the onus actually lies on the bank to prove about any disputed transactions.

I’d like to bring to your notice that in case of “Credit Card” transactions, the Bank and the Merchant are issuing two different transaction / authorization codes / numbers. During the normal course of consumers’ credit card usage, this hardly matters. However, if there is a case of “Dispute” on any transaction then the consumer is in deep trouble.

Thus in this context, the first step towards speedy investigation of the case, I pray that RBI make it mandatory for both the Bank and the Merchant should have a Common Transaction Reference Number / Code.

Note
The above Recommendation was sent to DGM, RBI as a feedback for the “Public Comments on Payment System Vision Document 2012-15”.

One Response to “Requesting RBI for Unique Authorization(Approval) Code / Number on Credit Card Transactions”

  1. […] Guarantee never exists and it is always the consumer who is at the receiving end. As subject expert CardBhai rightly points out that a Unique Transaction number for all Card Transactions must be available with all the parties involved in the transaction – Consumer, Card […]

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