¿What is a chargeback?

The chargebacks are nothing more than the return that occurs when, at the request of the cardholder, the bank of the same requests the total reimbursement of the funds on behalf of the cardholder, this case can happen if the account holder does not agree with the charge

¿How is a chargeback performed?

When the owner of the account does not recognize the operation, he can make a claim through his bank which is the one who has issued the card. Once this claim is made, a dispute is initiated that is subject to a series of rules.

The bank immediately transfers the import money from the merchant’s account to its customer’s account and then conducts an investigation to find out who wins the chargeback.

¿What are the most recurring chargebacks?

Fraud: It is one of the most frequent between the cardholder who makes the purchase and the business where it is made. It is an activity in which a buyer acquires a product or service in an illegitimate manner.

Stolen cards: Given the protection and verification measures that are given in the physical store, it is normally more frequent in electronic commerce and with any payment tool that involves a manual click when making the purchase. In most cases of fraud, the owner of the card with which a product or service is purchased does not coincide with the person who carries out the operation.

Duplication of the charge: It occurs when the business makes, by mistake, the payment of the product or service twice.

Merchandise not received: In this situation, the dispute could be avoided with good information on delivery times and tracking of the purchased product.

Cancellation or return of the sale: There are times when the buyer cancels or requests a return of a sale and, however, does not receive a refund of the money.