The Cancellation Code is primarily used in what aspect of transactions?

The Cancellation Code serves a specific purpose in transaction processing, particularly in the context of cancellations. When a reservation or transaction is cancelled, the Cancellation Code provides a unique identifier that confirms the action taken. This code is important for various stakeholders, including merchants and service providers, as it serves as proof that a reservation was indeed cancelled, preventing any disputes that may arise regarding the status of the transaction. Proper documentation of cancellations is crucial for maintaining accurate records and ensuring customer satisfaction.

The other options, though relevant to transaction processing in their own ways, do not align with the primary function of the Cancellation Code. Authorizing new purchases involves validation and approval processes that are distinct from cancellations. Documenting new sales pertains to recording completed transactions rather than cancellations. Finally, tracking customer details relates to maintaining customer information and activity, which is not the focus of the Cancellation Code.