Merchant Account Services and Credit Card Processing Account
Posts tagged ‘Chargeback’
I have an online business and I was recently hit with a very large charge back. It turns out that it was a fraudulent transaction. I do not have the funds to pay the credit card company back, does anybody know what will happen from here?
I got a chargeback on my M.A. for fraud, which of course I did not participate in. My question is, first of all the payment gateway did not have an option to decline transactions if the address or CVV did not match and he placed a $499 order. Secondly, it has been 3 months since the transaction (who waits that long to dispute transactions?). And thirdly, what happens if I can’t pay back the amount?
Learn more about the eBay Accepted Payment Policy.
Some payments may be held in your account to ensure smooth transactions. PayPal will release the hold after 21 days without a buyer dispute, claim, chargeback or other action. The hold may be released earlier if either of the following occurs:
* Buyer leaves positive Feedback.
* 3 days after PayPal confirms item delivery.
Learn more about PayPal’s Holds Policy.
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