Chargeback, refund and reimbursement are similar procedures. They all involve reversing the transaction, but with some important differences. Here are some of the following:
Reimbursement
Refunds are generally a smoother and more friendly process. They belarus mobile database when the customer contacts the seller directly and requests a refund due to delivery difficulties, regrets about the purchase, problems with the product, among others. Refunds are usually processed directly by the seller and do not involve the card issuer.
Reversal
A payment refund is requested by the card operator from the seller and is more similar to a chargeback. It occurs when the seller returns the amount paid to the customer, through the payment processor. The reasons may be duplicate payment , undue refusal of approval, return of the product, cancellation of the purchase, etc.
Chargeback
Chargebacks occur when the customer disputes the purchase directly with the card issuer. From there, the issuer is responsible for analyzing the dispute and making the final decision regarding the transaction, which may or may not be reversed, depending on the information presented by each party.