Normally, when we talk about the term ‘process’, the first thing that comes in our minds is ‘following instruction step by step till the end’ but it is not the case with the chargeback process.
In the chargeback process, you may have to jump from step 2 to step 10 straight away and then back to step 3, depending upon the requirement.
Transaction Went Wrong- Chargeback
The transaction can go wrong in many ways and due to many reasons. And these transaction issues are very common in all kind of payment methods including the cash payment, card transactions, Internet banking and more.
This can be a chargeback guide for the merchant, which can help them to reduce the chargeback.
The lifecycle of a Chargeback
• Cardholder Dispute
• Issuer Review
• Card Network
• Acquirer Review
• Merchant Response
• Representment
• Acquirer Review
• Card Network
• Issuer Review
• Network Arbitration
• Final Verdict
Chargeback Triangle
As you can see, this is a long process that includes so many steps. It is initiated by the customer. But the merchant is one who has to go through all the trouble. And filling a Representment requires a great knowledge of the Chargeback.
Chargeback Expertz
Chargeback Expertz is the one that gives full security about the chargebacks once they occur. Doors are opened all the time to help every merchant anytime. Call us at PHONE +1 855-465-4723 Or mail us at app@chargebackexpertz.com.
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