Visa chargeback is a process that allows a cardholder to dispute a charge made to their account. This can happen if the cardholder believes that the charge was unauthorized, fraudulent, or incorrect.
Common reasons for chargebacks include:
- Unauthorized transactions: Cardholders may report unauthorized purchases made without their knowledge or consent.
- Fraudulent activities: Cases of identity theft or card cloning can lead to fraudulent charges.
- Item not received: If a purchased item is not delivered as promised, the cardholder may initiate a chargeback.
- Incorrect billing: Errors in billing amounts or descriptions can prompt chargebacks.
- Dispute over quality or service: If the product or service received does not meet expectations, the cardholder might dispute the charge.
To minimize chargeback risks, merchants in Nepal should:
- Implement strong security measures: Protect customer data and prevent unauthorized access.
- Clearly communicate terms and conditions: Ensure customers understand the purchase terms.
- Provide timely and accurate order information: Avoid delays or discrepancies in order processing.
- Offer efficient customer support: Resolve disputes promptly and professionally.
- Adhere to Visa's chargeback rules and regulations: Understand and comply with Visa's guidelines.
