What does the acronym ARN stand for?

The acronym ARN stands for Acquirer's Reference Number. This term is significant in the context of payment processing and electronic transactions. An ARN is a unique identifier assigned to a transaction that helps facilitate the tracking and management of payments between parties. It is mainly used by acquiring banks and payment networks to follow the path of a transaction, particularly if there are issues such as chargebacks or disputes. The ARN allows stakeholders, including merchants and customers, to trace a specific transaction back through its lifecycle, ensuring transparency and accountability in the processing of payments.

Understanding the function of an ARN is critical for professionals in the payments industry, as it aids in managing transaction inquiries and resolving issues efficiently. It is distinct from the other options, which either represent different financial identifiers or do not accurately pertain to the role of transaction tracking in payment processing.