The National Payments Corporation of India (NPCI) January 28, 2025, notified regarding the cooling period compliance for vehicles under exception chargebacks – Transactions presented beyond 15 minutes from reader read time.
The following has been stated namely: -
• It states that if a transaction is processed over 15 minutes after a reader read time and fails due to insufficient balance (Codes 3004/3005), the acquirer bears liability, and the issuer can raise a chargeback after a 15-day cooling period with no re-presentment rights for the acquirer.
• It states that the NRCS system shall validate chargebacks for specified reason codes and reject those raised before the 15-day cooling period with reject reason code 5290: "Cooling period not completed, please raise chargeback after 15 days."
[Notification no. - NPCI/2024-25/NETC/009]
