What is ARN Number?
Separate 23-digit identifier related to online Visa and Mastercard debit and credit card transactions is an ARN. ARN full form is Acquirer Reference Identifier. It fills in between the cardholder’s bank (issuing bank) and the merchant’s bank (acquiring bank). When a transaction is started, the payment gateway creates the ARN number, therefore giving online payments credibility by allowing the tracking and validation of transactions all through the payment flow.
By improving openness, Acquirer Reference Identifiers help to significantly prevent online payment fraud and unauthorised transactions. They give consumers the same degree of guarantee as traditional transactions and a better online buying experience. The special acquirer reference number makes tracking and verifying of transactions possible, therefore exposing any mistakes or anomalies. Refunds, which may take longer to handle, benefit especially from this function.
Structure of Acquirer Reference Identifier
An ARN number may have a somewhat different structure depending on the payment processor or network. Usually though, it comprises of a 23-digit alphabetic code. Important transaction information including the acquiring bank, issuing bank, and transaction specifics is found in this code.
An ARN might show 123456789012345678901234. The payment processor or network used in the transaction will affect the particular arrangement and style of the numbers.
For example, another payment processor might include letters into their Acquirer Reference Identifier structure whereas one uses a just numerical style. These differences should be taken into account since they influence the tracking and validation of transactions on several systems.
Actual Cases and Applications of Acquirer Reference Identifier
Let’s examine some actual cases to better grasp the useful applications of ARNs:
1. Chargeback dispute resulting from a failed transaction
Imagine a situation whereby a customer’s account gets charged even though their online purchase fails because of a technical fault. Under such circumstances, the consumer can dispute charges with their issuing bank. The bank will next look at the transaction using the ARN number and get in touch with the acquiring bank to fix the problem and start a refund.
2. Following a delayed refund
Sometimes the process may take more time than anticipated when a consumer wants a refund for a good or service. Both the consumer and the retailer can monitor payments and ask about the refund status with their respective banks by applying the ARN codes. The ARN serves as a point of reference so that everyone may keep close eye on the return procedure.
How ARN handles payment processing?
The Acquirer Reference Identifier number is absolutely important in the payment processing life for linking the acquiring bank, issuing bank, and payment gateway. The payment gateway creates an original ARN when a consumer starts an online transaction. The acquiring bank then gets this figure and requests approval from the originating bank.
The issuing bank authorises or rejects the transaction after confirming the account information of the customer. Should approval be granted, the money from the customer’s account passes via the acquiring bank to the merchant’s account. The Acquirer Reference Identifier serves as a reference point during this procedure so that all the participants may monitor payments and guarantee the integrity of the transaction.
How to find and track Acquirer Reference Identifier number?
One may locate and track ARN number in numerous ways. These are few typical techniques:
1. One can access ARN from Bank SMS or email
Banks sometimes send an SMS or email alert to the customer including the transaction information—including the ARN—after a transaction is handled. These messages contain ARN, which you might find useful for reference.
2. Utilising mobile banking apps or netbanking
Most banks let consumers check their transaction history using online banking websites and smartphone apps. Entering into these systems will help you find the ARN connected to a given transaction.
3. Verifying Acquirer Reference Identifier in payment or UPI apps
Usually found under the section on transaction history or payment information of a digital wallet app or UPI (Unified Payments Interface) transaction you made, is the ARN.
4. Contacting Customer Support
Should you find the ARN nowhere using the preceding techniques, you should contact your bank’s or payment processing customer service. Given your transaction data, they can help you determine the ARN.
5. Tracking ARN for Conflict Resolution
The ARN will help you monitor the state of a conflict or discrepancy you find in a transaction. Your bank or payment processing can examine the situation and send you updates on the resolution process by including the ARN.
Advantages of ARN for consumers and retailers
1. Better customer experience
ARNs increase openness and efficiency in the refund procedure, therefore enhancing the customer experience. Using the ARN lets consumers quickly monitor their refund progress, so helping businesses to minimise needless back-and-forth contact and annoyance. This openness guarantees quick return for consumers, so improving their whole experience.
2. Reducing fraud
Reducing online payment fraud relies critically on ARNs. ARNs help retailers to act early by allowing the tracking and identification of fraudulent transactions. Should a merchant have a chargeback, they can provide the ARN code to the bank for inquiry. This procedure helps confirm the validity of the transaction and stops next dishonest behaviour.
3. Enhanced productivity
For retailers, ARNs simplify transaction tracking and management, hence increasing operational effectiveness. By means of the ARN number, which allows merchants to quickly identify and trace payments, they can streamline their operations and manage a significant volume of transactions.
How can a Merchant apply for an ARN Number?
These guidelines can help you, a merchant seeking an Acquirer Reference Identifier code for your company:
1. Offline Operation
Visit an AMFI-regulated office of Computer Age Management Services Pvt. LTD.
Get the ARN application form. Accurate completion of the form will help you to attach the necessary documentation, such:
- Copy of the NISM certificate
- Aadhaar card copy
- Copy of PAN card
- Validation of bank account
- Two passport size pictures
- Send the finished form and supporting documentation for processing.
2. Online Methodology
Register online at the specified page, https://web.camsonline.com/AMFI/login.aspx.
Send the Acquirer Reference Identifier application form acquired from CAMS together with the Know Your Dealer (KYD) acknowledgement. In person submit the KYD application form if the application is still under progress.
Make sure the necessary paperwork are connected and the designated application fee is paid. Senior citizens and individuals pay ₹3,540 as their fee.
You will get a confirmation email about the registration and photo identity card upon the completion of the registration process.
Frequently Asked Questions
1. Track the state of a payment transaction using an Acquirer Reference Identifier number?
The tracking of a payment transaction can be accomplished with an ARN number. Customers may ask the bank or merchant about the transaction status—including pending payments, successful transactions, or refund progress—by supplying the ARN.
2. How might I get an ARN number for a financial transaction?
As a transaction is started, the payment gateway automatically generates an ARN number. Customers may find the ARN from net banking portals, mobile banking applications, bank SMS or email alerts, or payment app transaction records.
3. How long after starting a transaction does one obtain an ARN number?
Usually, an Acquirer Reference Identifier number is produced instantaneously. The payment gateway assigns a special ARN to the transaction as soon as it starts. Usually by SMS, email, or their banking portal or payment app, customers get the Acquirer Reference Identifier in real-time.
4. Does Acquirer Reference Identifier serve as a transaction ID?
Although both an ARN number and a transaction ID identify a transaction, they are not the same. While transaction ID is a more general term used by many payment systems to identify transactions internal, Acquirer Reference Identifier is especially assigned by the acquiring bank to track transactions between the acquiring and issuing banks.
5. What information does an ARN number contains?
Usually include encoded information on the transaction, an ARN consists of the acquiring bank, issuing bank, and other transaction characteristics. The precise details could change based on the network or payment processor used.
