What is a transaction reference?¶

A transaction reference is an identifier used to locate or reconcile a payment record. One payment can carry different references in the sending bank, receiving bank, processor, merchant or wallet system.

References identify different layers¶

Transaction IDs, authorisation codes, retrieval references, order IDs and blockchain transaction hashes are not interchangeable. A custodial exchange can also hold internal transfers that have no separate public blockchain hash.

A customer-entered “payment reference” or description may express a claimed purpose rather than a provider-generated identity.

Preserve reference and context together¶

Retain every identifier exactly, including case, punctuation and leading zeros, with its source, amount, currency, times, status and relevant account or merchant. Ask providers what each field represents and whether it links authorisation, settlement, reversal or refund records.