One of the trickier aspects of managing debit transactions is understanding the various codes associated with them. These codes can signify a range of situations, from payment approvals to declines, and knowing what they mean can help you navigate your banking transactions as a merchant more efficiently. These two or three-digit codes always signify that the payment was approved or declined. Understanding what the codes mean specifically will give you further insight into your customer's transaction experience.
Who Can Issue Debit Codes?
When a payment is made, it passes through three distinctive systems, all of which can issue approval or decline codes. First is the payment processor, like Zen Payments; second is the payment gateway, like a go-between electronic transactions; and the last is the bank that issued the card, like Bank of America, Wells Fargo, or Chase. These codes will appear on your monthly statement along with other transaction information.
