Following is the process of chargeback:
1] Shoppers get a problem in transaction at site
2] Shoppers inform their issuing bank & ask for money back.
3] Card issuer research to see if the shopper’s demand is reasonable or not. If demand is not reasonable, shopper will be responsible for payment.
4] If it is reasonable, the card issuer makes a provisional credit payment to the shopper.
5] Card issuer starts a special process called a chargeback & obtains funds from the acquiring bank that will debt the funds from you’re a/c in turn.
6] Acquiring bank sends a notification of chargeback & request for information to you.
1] Shoppers get a problem in transaction at site
2] Shoppers inform their issuing bank & ask for money back.
3] Card issuer research to see if the shopper’s demand is reasonable or not. If demand is not reasonable, shopper will be responsible for payment.
4] If it is reasonable, the card issuer makes a provisional credit payment to the shopper.
5] Card issuer starts a special process called a chargeback & obtains funds from the acquiring bank that will debt the funds from you’re a/c in turn.
6] Acquiring bank sends a notification of chargeback & request for information to you.
hey thanx for sharing very handy n usefull info....
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