Chargeback is a crucial process that enables customers to dispute transactions and reclaim funds deducted from their bank accounts or credit cards. This process involves several stages that help ensure fairness and safety for all participants in online commerce.
Initially, the customer files a complaint with their bank or payment system, citing the reasons for dispute and providing necessary documents. Subsequently, an investigation is initiated, during which the provided information is analyzed, and transaction details are verified. Following this, the bank or payment system makes a decision on further actions, and if the complaint is deemed valid, initiates a chargeback, returning the funds to the customer's account.
This mechanism safeguards the interests of both buyers and sellers, facilitating the resolution of disputed situations in online commerce in a fair and efficient manner.
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