The first rule to run a successful and balanced business is to catch the chargeback before it goals our business profit. Navigating the chargeback process is painful and time-consuming for any merchant. All chargeback disputes begin when a cardholder files a dispute on a transaction with their issuing bank. Visa gives issuing banks up to good 30 days to review. If valid, they would then forward it to the merchant’s acquiring bank or payment processor, who notifies the merchant. Chargeback, if you may not know is a return of funds into the buyer’s bank account, a line of credit or credit card. Know The Process Know the parties involved in this. 1. The Customer 2.Issuing Bank 3.Card Network 4.Acquiring Bank 5.Merchant Account Processor 6.Merchant’s Commercial Bank Account 7.The Merchant 8. Merchant Loses to Chargebacks 9.Preventing Chargebacks These 9 heads are involved in this and have a look at this individually. 1. The Customer ...