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What is a chargeback? When does it happen?

A chargeback is a form of protection to the cardholder by the Issuing Bank which returns money to the cardholder when disputes happen.

There are numbers of reasons for customers to claim chargeback:

  • Fraud: The cardholder doesn’t recognize the transaction, etc.
  • Clerical: Duplicate billing, incorrect amount billed, etc.
  • Products/Services: item does not receive (INR), significantly not as described (SNAD), etc.
  • Technical: Expired authorization, non-sufficient funds

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Finextra
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about us

We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.