What is a chargeback or reversal?
A chargeback or reversal is when a buyer rejects or reverses a charge on their credit card. The credit card company will investigate the legitimacy of the charge and, based on the information they gather regarding the transaction, will decide whether to uphold the chargeback or deny the buyer's request. A common reason for a chargeback is that the buyer does not recognize a charge on their credit card statement, or the buyer did not receive an item and the seller refuses to issue a refund. If the credit card company upholds the chargeback, then the credit card company gives the buyer their money back which leaves Yessy and the seller responsible for the chargeback amount.
How can I help prevent chargebacks?
To help prevent chargebacks, be sure to ship orders promptly and, if needed, issue refunds in a timely manner. Ship all your orders with a tracking number along with signature confirmation so that you have proof of shipment as well as proof that the order was received by the buyer. Be available for the buyer to contact you in case they have any questions or concerns. If you are suspicious of an order, contact the buyer first or feel free to decline the order.
What happens if the buyer issues a chargeback?
If the buyer issues a chargeback then the seller, assisted by Yessy, will have the opportunity to explain their case to the credit card company along with proof of the transaction. If the credit card company upholds the chargeback then the seller must return to Yessy the funds related to the chargeback.
Who is responsible for a chargeback?
The seller is responsible for any chargeback's that may occur. If the credit card company upholds a chargeback then the seller must return to Yessy the funds related to the chargeback.