Currently, the industry maximum chargeback rate can be found under Visa/Mastercard network guidelines. WePay complies with card network rules on chargeback volume.
How am I notified that I have received a chargeback?.In both scenarios, WePay will notify merchants of the credit card network’s decision.If the credit card network rules in the merchant’s favor, the funds are debited to the merchant’s account.If the credit card network rules in the cardholder’s favor, the funds are not returned to the merchant.WePay reviews the supporting evidence/documentation, and if the documentation is sufficient we will submit that documentation to the credit card issuer for review and their decision on the chargeback If the merchant contests the chargeback, they must provide supporting evidence.If the merchant concedes the chargeback, the chargeback is resolved in favor of the cardholder.If applicable, the merchant can decide to contest or concede the chargeback If the account currency is GBP, we will attempt to recoup the chargeback cost by either absorbing incoming payments or requesting re-payment via debit card. If the account currency is USD or CAD, we will attempt to recoup the chargeback cost by either absorbing incoming payments or debiting the linked bank account on file. WePay automatically debits the funds from the merchant’s account to cover the chargeback cost along with a $15 fee for each chargeback, and we notify the merchant about the chargeback.WePay is notified about the chargeback by the cardholder’s bank.We keep you informed on the status of your chargeback as well.īelow are the steps that happen when a chargeback is initiated by the cardholder: WePay provides information and guidance for merchants who receive chargebacks. What happens when I receive a chargeback?.Whether you’re in the office, at home or on the go, just visit My. and access all your data. You can access it on any system you want with just one or multiple accounts. Yes! VatPay works with any device or operating system because it’s 100% cloud base.
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Does it work on Mac, PC or mobile devices?.Each chargeback will incur a $15 non-refundable fee. On average, chargebacks can take 30-45 days to be resolved, with a maximum resolution time of 120 days and no guarantee that the funds will be rewarded back to the payer. While a chargeback is a reversal of a credit card payment that is initiated by the cardholder’s bank. Refunds are processed within 3-7 business days with the payer being surely rewarded back their funds. What is the difference between a refund and a chargeback?Ī refund is a credit processed by WePay, the partner team, or the merchant at the request of the payer.If the credit is returned to WePay, we will work with you to issue a paper check once the funds are returned.In the event that both the card on file and all accounts linked to that card have been closed, WePay will attempt to issue a refund to your card issuer who will either contact you to issue the credit or reject the credit back to us. In the event that the card on file has been replaced and you still bank with the same institution, your card issuer should still be able to reroute our credit to your account.
No, WePay is only able to issue a refund to the original form of payment on file. Are you able to issue a refund to another card or account?
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