The chargeback process is described below.
- The buyer files a chargeback
- Buyer's bank will receive the Chargeback Request and act upon it, then notify PayCEC
- PayCEC temporarily holds the chargeback amount in the merchant's account
- PayCEC emails the merchant as soon as possible
- Merchant emails proof of purchase to PayCEC to dispute the chargeback
- PayCEC disputes the chargeback and awaits resolution from the credit card company
- If the investigation is resolved in favour of the merchant, PayCEC is reimbursed and unhold the chargeback amount in the merchant's PayCEC account.
Also read: Chargeback limit