Charge-backs are used by customers to dispute transactions and secure a refund for their purchase. Basically, charge-back voids a card transaction withdraws funds that were previously deposited into the merchant’s account and credits it to the consumer. Charge-backs are different from refunds. For a refund, the consumer contacts the business for a refund while for charge-backs, the customer asks the bank/processor to forcibly remove funds from the business’s account back to them.
How we handle chargebacks
- The customers bank initiates a charge back request through Seerbit Acquiring Bank.
- Seerbit's acquiring bank sends the charge back request to merchant requesting for proof of service delivery( supporting documents). Expected response timeline is 48 hours from the date the request was sent by the customers bank.
- After investigation by the merchant, a full refund of the payment is carried out if the customers claims were found to be true else Merchant declines the charge back request