Reference numbers are used to identify and track purchases and other credit or debit card transactions. They are 12-digit alphanumeric codes that most banks assign to every credit/debit card purchase. Reference numbers are unique, with no two ever being the same. They’re used by the bank and the credit/debit cardholder to help keep track of transactions.

Reference numbers are primarily used for customer service purposes. They provide a quick, reliable way for customer service representatives to track transactions. When customers call in with questions about their purchases, reference numbers make it easy for them to provide the necessary information. Reference numbers also make it easier to recall and discuss previous purchases, including return policies and any warranties associated with the product.

Reference numbers are also increasingly being used in online transactions as a way to verify identity initiatives and protect data. They’re frequently used as part of a two-factor authentication system, which is a way of ensuring that users are who they say they are. This helps to protect customers and merchants alike, as it helps to ensure that their data is secure.

Overall, reference numbers are critical in helping to track and manage both online and in-person financial transactions. They provide a secure and convenient way for customers, merchants, and customer service representatives to keep accurate records of purchases and returns. And with the proliferation of digital payment options, reference numbers are likely to become even more important in the near future.