The document discusses chargebacks, which occur when a credit card transaction is reversed at the request of the cardholder or issuing bank. It provides information on the chargeback process and reasons for chargebacks such as fraudulent transactions or unsatisfactory purchases. The impacts on payment providers, merchants, and customers are described. Key steps in the chargeback process and what is required for merchants to reject a chargeback claim are outlined. The document also provides tips for merchants to avoid chargebacks by clarifying policies, order details, and responding promptly to issues or claims.
Everything You Need to Know About ChargebacksEran Feinstein
In the world of online and mobile payments, credit card fraud and chargebacks are a common concern among merchants. Business owners can protect themselves by understanding what chargebacks are, how the chargeback process works, and what measures can be taken to prevent them. Merchants can also avoid chargebacks by working with a PCI DSS Level 1 certified payment processing company, like 3G Direct Pay (http://www.3gdirectpay.com/)
Showing how the Chargeback Process works. When a customer files a chargeback, this is done by opening a dispute and asking the issuer to reverse the charge. The Credit Card Company will contact the merchant’s bank who will notify the merchant regarding the same. Detailed analysis and strategies are required to win a chargeback dispute. Chargebackexpertz provides a merchant with the management tools to achieve substantial results.
Everything You Need to Know About ChargebacksEran Feinstein
In the world of online and mobile payments, credit card fraud and chargebacks are a common concern among merchants. Business owners can protect themselves by understanding what chargebacks are, how the chargeback process works, and what measures can be taken to prevent them. Merchants can also avoid chargebacks by working with a PCI DSS Level 1 certified payment processing company, like 3G Direct Pay (http://www.3gdirectpay.com/)
Showing how the Chargeback Process works. When a customer files a chargeback, this is done by opening a dispute and asking the issuer to reverse the charge. The Credit Card Company will contact the merchant’s bank who will notify the merchant regarding the same. Detailed analysis and strategies are required to win a chargeback dispute. Chargebackexpertz provides a merchant with the management tools to achieve substantial results.
This presentation covers the credit card business and highlights the many different types of credit cards available, how credit cards are processed and the major credit card issuers.
A Payment Gateway is an ecommerce application that authorizes payments for e-business, online retailers etc. Analogy of payment is cash counters which are located in the retail outlets. Payment gateways encrypt sensitive information such as credit card numbers to ensure that information passes securely between the customer and the merchant.
The power point explain about on how big is the potential of Indonesia youth digital market in 2014-2015 and understanding youth's behaviors and habits from social to commerce - GDP Venture
The Click Pay Business Plan was a part of entrepreneurship course study in MBA. My plan was selected as the best plan for the year and it was later submitted to SMEDA (Small and Medium Enterprise Development Authority) for further checking and viability study.
This business plan provides details about establishing a payment gateway company in Pakistan. It includes details of financial planning with 3 years projected financial statements.
EMV is a standard for smart payment cards and terminals. EMV stands for – EuroPay, MasterCard and Visa, the three companies who were the founder of the standard. This standard is maintained by EMVCo – a consortium with payment brands like Visa, MasterCard, JCB, American Express, China UnionPay, Discover as members.
Online Payment a highly used medium of making transaction. In this PPT very briefly described about how online payment medium works and what steps follows in online payment method.
A Complete Model of the Payment Service BusinessFrank Steeneken
This slide deck provides a complete picture of the underlying skeletal structure that holds every payment service business together while achieving its goals.
The model introduces a comprehensive framework for managing the complexity of the payment service business structure, and a reusable blueprint for visualizing how a payment service business enterprise actually does business. The model’s clearly-defined core-processes and their functions provide a powerful baseline for improving business performance.
By viewing the payment service business as a single system, fully independent of its implementation, the nature of its underlying core processes becomes clear. Then by managing and improving them as parts of a single system, substantial improvements can be made on critical success factors.
It's a powerpoint presentation on United Payment Interface (UPI) which I delivered in the electronics department of IIT(ISM) Dhanbad.Along with UPI i have also discussed on topics such as e-wallets, imps, neft, rtgs etc.
The issuing bank got a complaint from the cardholder, accepting his participation in at least one transaction with the merchant but denying participation in the remaining transactions and disputing them. The cardholder also acknowledges the card was in his or her retention when these disputed transactions were made. Such issues arise when there is a failure in avoiding multiple transactions and an intention of processing multiple transactions dishonestly. This chargeback does not apply to recurring payments or to mail sequence, telephone sequence, or internet transactions. Get more information visit website - https://www.chargebackexpertz.com/visa-reason-code-57/
This presentation covers the credit card business and highlights the many different types of credit cards available, how credit cards are processed and the major credit card issuers.
A Payment Gateway is an ecommerce application that authorizes payments for e-business, online retailers etc. Analogy of payment is cash counters which are located in the retail outlets. Payment gateways encrypt sensitive information such as credit card numbers to ensure that information passes securely between the customer and the merchant.
The power point explain about on how big is the potential of Indonesia youth digital market in 2014-2015 and understanding youth's behaviors and habits from social to commerce - GDP Venture
The Click Pay Business Plan was a part of entrepreneurship course study in MBA. My plan was selected as the best plan for the year and it was later submitted to SMEDA (Small and Medium Enterprise Development Authority) for further checking and viability study.
This business plan provides details about establishing a payment gateway company in Pakistan. It includes details of financial planning with 3 years projected financial statements.
EMV is a standard for smart payment cards and terminals. EMV stands for – EuroPay, MasterCard and Visa, the three companies who were the founder of the standard. This standard is maintained by EMVCo – a consortium with payment brands like Visa, MasterCard, JCB, American Express, China UnionPay, Discover as members.
Online Payment a highly used medium of making transaction. In this PPT very briefly described about how online payment medium works and what steps follows in online payment method.
A Complete Model of the Payment Service BusinessFrank Steeneken
This slide deck provides a complete picture of the underlying skeletal structure that holds every payment service business together while achieving its goals.
The model introduces a comprehensive framework for managing the complexity of the payment service business structure, and a reusable blueprint for visualizing how a payment service business enterprise actually does business. The model’s clearly-defined core-processes and their functions provide a powerful baseline for improving business performance.
By viewing the payment service business as a single system, fully independent of its implementation, the nature of its underlying core processes becomes clear. Then by managing and improving them as parts of a single system, substantial improvements can be made on critical success factors.
It's a powerpoint presentation on United Payment Interface (UPI) which I delivered in the electronics department of IIT(ISM) Dhanbad.Along with UPI i have also discussed on topics such as e-wallets, imps, neft, rtgs etc.
The issuing bank got a complaint from the cardholder, accepting his participation in at least one transaction with the merchant but denying participation in the remaining transactions and disputing them. The cardholder also acknowledges the card was in his or her retention when these disputed transactions were made. Such issues arise when there is a failure in avoiding multiple transactions and an intention of processing multiple transactions dishonestly. This chargeback does not apply to recurring payments or to mail sequence, telephone sequence, or internet transactions. Get more information visit website - https://www.chargebackexpertz.com/visa-reason-code-57/
Not understanding what a chargeback is can affect your business in negative ways. Learn the steps that you can take to limit its financial impact on your business.
Guide to Understanding Credit Card Processing for MerchantsChloeBeckham
How important are credit card sales to your business's growth? Our credit card processing guide will help you understand how to accept credit cards and what to look for in a credit card processor.
Q 1. Write a detailed note on the credit card payment system and how many parties and involved in this process?
Q 2. What is the difference between E-cash, E-money, and E-wallets?
Q 3 what are the main challenges faced by developing countries in the implementation of E-business?
Q 4 How you will start E-business? explain with your own example.
Q 5 Explain the role and importance of Social Media in E-business
Q 6 write a note on the planning and designing of a website.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Chargeback is one of the worst words for merchants today. While they are a huge pain, chargebacks are a part of any business that accepts debit and credit cards. Originally chargebacks were used to protect consumers from charges made fraudulently, along with keeping merchants accountable and honest. However, today chargebacks are used by many more people and can feel like a vendetta.
Credit card processing what is it and how does it workhighrisk gateways
Credit Card Processing What is it And How does it Work
https://www.highriskgateways.in/credit-card-processing-what-is-it-and-how-does-it-work/
Nowadays, it is especially true that most customers prefer to pay via debit and credit cards. So, it’s imperative to understand the concept of credit card processing. Keep reading to know…what credit card processing is? How does it work? And why it is necessary for your business?
Billed for Merchandise You Never Received? Here's What to Do- Mark - Fullbright
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
At any time, customer can file a chargeback under any reason code. Chargeback not only effect profits but also, the image of the business. Lesser the chargeback ratio better will be the reputation of the business. We, at Chargebackexpertz, provide tools and technology that prevents chargebacks and in case, you get one, we will help you fight that chargeback.
PayU LatAm International enables international e-commerce websites to accept local payments in one or more countries of the region from local credit cards, local banks transfers and local cash deposits. http://latinamerica.payu.com/
PayU Group associates companies dealing with online payments in 13 countries. Due to trust of numerous customers and cooperation with the biggest online portals, PayU managed to gain an established position in most markets. The aim of PayU is to integrate existing online payment services and develop new ones as well as provide tools to facilitate e-commerce activity in the Web. We combine innovative solutions, security and technological reliability, offering considerable support for e-business. Our experience allows us to create efficient settlement tools.Please accept our invitation to cooperation. Contact us at partnerships@payu.com.
Welcome to the Program Your Destiny course. In this course, we will be learning the technology of personal transformation, neuroassociative conditioning (NAC) as pioneered by Tony Robbins. NAC is used to deprogram negative neuroassociations that are causing approach avoidance and instead reprogram yourself with positive neuroassociations that lead to being approach automatic. In doing so, you change your destiny, moving towards unlocking the hypersocial self within, the true self free from fear and operating from a place of personal power and love.
2. Table of contents 2
What is a chargeback? 3
Reasons for chargeback 4
Impact of chargeback 5
Chargeback process 5
What is necessary to reject chargeback? 7
Chargeback solution 9
Avoiding chargebacks 10
Conclusions 11
3. what is a
chargeback?
In electronic commerce, a chargeback is a reversal of a credit card transaction. The chargeback
procedure is launched by a bank or initiated by a bank-card issuer at the cardholder’s request.
It is a process in which the buyer questions debiting of his/her card in connection with a card trans-
action. It is available only to users who pay with their credit or debit cards. Cardholders have the
right to dispute any transaction processed on a Visa/MasterCard card.
In the chargeback process, the burden of proof is on the merchant. If the merchant provides docu-
mentation proving that a transaction was correct, the transaction amount is credited back to his
account. If the merchant fails to do so or does so after the deadline, the disputed amount will be
returned to the account of a consumer being a party to the dispute.
4. reasons for
chargeback
Chargebacks arise for a variety of reasons but generally they are the result of a cardholder not
receiving the product, being dissatisfied with their purchase or the result of fraud. To secure a
transaction made with a debit or credit card, the online-selling merchant may use the 3D-secure
service, as part of which the cardholder secures a transaction with a secret password defined in
bank e-services.
Chargeback reasons as shown on PayU.pl:
Product not received (cardholder states never receiving the product)
Product not matching description (it was damaged or did not match its description on the
website)
Duplicate transaction (cardholder placed two or more orders for the same product, thus being
charged for each transaction)
Fraud (transaction made by an unauthorised person)
Not recognized transaction (cardholder does not recognize the payment or forgot about making
it)
No refund (customer did not receive a transaction refund despite its cancellation or returning the
item)
5. impact of chargeback
Chargeback impacts all participants of the payment process; these are:
Provider of payment services - PayU S.A. or another payment institution taking part in a
transaction (Acquirer)
Card-issuing bank (Issuer)
Merchants
Customers (cardholders)
CHARGEBACK PROCESS
1 2 3
4
7 6 5
1. Visa or Mastercard cardholder -> 2. Card issuer -> 3. Provider of payment services (Acquirer
– PayU S.A. or another payment institution) -> 4. Merchant -> 5. Provider of payment services
(Acquirer – PayU S.A. or another payment institution) -> 6. Card issuer -> 7. Visa or Mastercard
cardholder.
6. 1. The cardholder contacts the bank which issued the card in order to dispute a transaction. The
card-issuing bank researches the dispute to determine whether there is sufficient evidence to
support the cardholder’s dispute.
2. The card issuer starts the chargeback procedure by giving it a code relevant for the chargeback
reason. In this way the issuer is credited the disputed amount.
3. The provider of payment services (Acquirer – PayU S.A. or another payment institution) receives
a chargeback with a chargeback code indicating the reason for complaint.
4. The provider of payment services informs the merchant that the chargeback has been recorded
and requests that the merchant analyses the complaint and provides documents proving that it
is irrelevant.
5. The merchant provides the provider of payment services with information on whether the
merchant accepts the complaint or not. In order to reject chargeback, it is necessary to provide
documents proving its irrelevance. If the merchant accepts the complaint or if the provided
documents do not sufficiently prove that the complaint is irrelevant (pursuant to Visa and
MasterCard regulations), the chargeback process ends and the acquirer charges the merchant’s
account with the disputed amount.
6. If the merchant rejects the complaint and provides documents proving that the complaint is
irrelevant, the provider of payment services rejects chargeback, charging the card issuer with
the amount of chargeback and presenting information and documents confirming the
relevance of rejecting the complaint.
7. In such case, the card issuer informs the cardholder about irrelevance of the complaint and
charges the card account with the disputed amount again.
In some cases, in responce to the cardholder’s complaint and before launching the chargeback
procedure, the card-issuing bank requests that the provider of payment services sends a copy of
transaction confirmation. In such case, the provider of payment services may request that the
merchant presents the transaction confirmation as well.
7. what is necessary
to reject chargeback?
Failure to deliver the item or provide the service
Customer’s confirmation of receiving the item (confirmation of sending an item is not sufficient
to reject the complaint) or service.
The copy of information containing a description of the item/service as well as the shipping date
and method presented to the customer during transaction.
Information on whether the cardholder contacted the merchant directly with the request to
consider the complaint and a description of the course of this complaint with a reason for
rejection (if applicable).
Item not matching description, damaged item or service provided otherwise than described
The copy of information containing a description of the item/service as well as the shipping date
and method presented to the customer during transaction, which proves that the item/service
does not match the description
Document confirming that the customer received the item and confirmed that it was not
damaged
Merchant’s written statements and documents (if available) if:
item was not returned by the customer
item/service was repaired or the missing elements were completed
Information on whether the cardholder contacted the merchant directly with the request to
consider the complaint and a description of the course of this complaint with a reason for
rejection (if applicable).
8. what is necessary
to reject chargeback?
Multiple payment for the same item/service (payment with the same card, different card, transfer
or otherwise)
Documents confirming that the payments concerned the purchase of various items/services
Merchant did not return the transaction amount
Confirmation that a relevant return was made
Merchant’s written statements and documents (if available) if:
item was not returned by the customer
the merchant did not accept the return or service cancellation
merchant presented the conditions of resignation and returns upon purchase
Fraud transaction = made without the cardholder’s knowledge and consent
Any documents containing more information about a transaction than data presented in the card
transaction settlement file: a detailed description of the ordered item/service, cardholder’s data,
addressee’s and shipping data
9. chargeback solution
Chargeback closing reasons on PayU.pl:
Refund was granted (the merchant accepts the chargeback and returns the disputed amount into
the cardholder’s account)
Refund was denied (the merchant proves that the chargeback is irrelevant and thus the payment
is valid)
Chargeback was lost (the merchant does not respond in due time or the cardholder’s bank has
evident proof that the chargeback is relevant)
10. avoiding chargebacks
Any time credit card payments are involved in a transaction, there is always the risk of a chargeback.
Sometimes buyers are not satisfied with their purchases, or their order never arrives, or their credit
card has been used fraudulently.
The best way to deal with chargebacks is to prevent them from happening in the first place.
However, there are several simple steps that can be taken to minimize chargebacks caused by
customer error or failure to recognize your charge on their account.
The order confirmation page must provide the customer with the name, phone number, e-mail
address of the company so that the client will recognize the charge when it appears on their
monthly credit card statement. Not recognizing a charge is the main reason a customer will issue
a chargeback.
Send your customers an e-mail confirmation that contains the same company information.
Have the return/refund policy clearly stated on the website. Make it a requirement that customers
read the policy before their order can be completed.
11. Have the return/refund policy clearly stated on the website. Make it a requirement that customers
read the policy before their order can be completed.
Have the merchant’s direct contact data for lodging complaints stated on the website. Many
reasons for chargebacks must be preceded with a complaint reported by the cardholder directly
to the merchant.
Provide accurate descriptions of your products on the website.
Respond to the chargeback as quickly as possible.
conclusions
Efficient chargeback processing reinforces credibility in card payment systems for a customer. In
fact, the chargeback rules protect customers when handling claims. This generates trust in the
systems and motivates the customer to prioritize the use of cards over other payment methods.