What is the lifecycle of a chargeback?
- The cardholder disputes a credit card transaction
- The issuer reviews and assigns a reason code
- The issuer investigates and sends the chargeback to the acquirer for further review
- The bank investigates and sends the chargeback to the merchant for review
- Merchant receives the chargeback and decides whether to accept or dispute it, if disputed, the merchant sends a response including supporting evidence back to the issuer
- The issuer reviews and decides whether to accept or reject the chargeback