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What Are Chargebacks A chargeback happens when a cardholder calls his card issuer to dispute a charge on his account. If your customer files a dispute, you’ll get a notice from your acquiring bank that a chargeback is pending. You can either accept it or request it. If you accept it or if the acquirer or card issuer denies your request you will get a chargeback, and it’s not good for your company. When a chargeback is received, you will get a chargeback reason code from the issuing the bank that gives a reason for the dispute. Chargeback Process A customer disputes a transaction by getting in touch with his bank. • For most transactions, cardholders have 120 days from the transaction date to dispute a charge. • The card-issuing bank gives a provisional credit to the customer for the transaction amount. Merchant Notified of Chargeback Received • The chargeback amount is debited from the merchant’s account and the merchant is informed via email...