What is a chargeback?
The most common chargeback is initiated by the owner of the card who does not recognise the payment. He requests a refund to his bank, and the bank withdraw the money from the merchant´s account.
Most of financial institutions hold a ‘no fault’ consumer policy that benefits greatly the customer, however it can wreak havoc on a merchant’s revenue stream.
By processing a chargeback, the bank is assuming the merchant was wrong, and if the chargeback is unjustified by the cardholder and it is not disputed, the merchant is accepting the bank´s assumption.
Chargeback representment, when properly executed, can not only return the revenue to the merchant, but it can impress upon the bank the trustworthiness of the company.
Chargebacks are costly and time consuming, the best solution is avoiding altogether.
Chargebacks can be avoided in great length by taking care the delivery documentations are correct, having terms and conditions clearly visible among several other options. Consult with your dedicated Account Manager for more information.
Where can I see the list of chargeback?
A chargeback is in fact a transaction related to another transaction of payment. You can see all the chargebacks in several different ways.
- Filtering your transactions:
- Go to Processing > Transactions
- On the left hand side there a filter section. Open Transaction Parameter.
- Upon selecting the Type field, choose chargebacks.
- Click on Filter button.
- If you are set as a Risk Manager or you have the right permissions, you will see a Risk > Chargebacks in the main menu.
How can I dispute the chargeback?
To dispute a chargeback or create a representment is a process that requires proofs and documentation that proves the service was fulfilled or the product delivered. The process should be made within the 7 days of the chargeback. Contact your Account Manager to start the process as soon as posible.