
Features of chargebacks on Mastercard cards
Chargeback is a procedure for challenging a transaction that allows a customer to refund money for paid goods or services. This process is very useful if the customer is dissatisfied with the quality of the product, did not receive the order, or found that money was debited from his card without permission. For Mastercard, chargeback has its own characteristics, which are important to consider.
What is a chargeback and how does it work?
Chargeback is not just a refund. This is an official challenge to the payment through the bank that issued the card. The client, noticing an error or a suspicious transaction, contacts the bank, and it begins proceedings.
The procedure works as follows:
The customer discovers a problem (for example, an error in the amount of the charge, a double charge, or unproven services).
Contact the bank, describe the situation in detail, attach evidence.
The Bank conducts an investigation and, if it considers the claim justified, sends a request to the seller's bank.
If the...