Recently I sent several credit card payments online. The company that charged my card is a multi-billion dollar company, so not just a small start-up. However on the statements the charges appeared as a bunch of random letters and numbers for the description and location. All other merchants that have ever charged this card appear correctly on the bill.
Since I make probably 30-50 transactions on my card each month, I had no idea who these charges were from, so I disputed them with my card issuing bank and reported the card as stolen. After the company received the dispute, they contacted me and are basically blaming me for not having matched up the amount charged with what my bill from them was.
So my question is, is there any sort of regulation (e.g. PCI) or law that says that a merchant must attempt to properly identify themself when charging their clients' credit cards?
I think some people were a bit confused about this question thinking that the charge shows up with the name of an umbrella corporation, or third party, but it is literally a bunch of random characters. Here's a screenshot of the bill:
The third column is the "description" (where the company name usually goes) and the fourth column is the "location". Only one company shows up like this when they make charges to the card.