A chargeback is a formal dispute initiated by a cardholder requesting the reversal of a transaction processed on their card.
Chargebacks or transaction disputes may be initiated for various reasons, including but not limited to:
Non-receipt of goods or services
Defective or damaged goods
Billing disputes
Unauthorized transactions or suspected fraud.
Here is the process for initiating chargebacks on your virtual cards:
The cardholder initiates a dispute by contacting Misan by Bamboo to challenge a transaction.
The cardholder must provide the following information to support the dispute:
Reason for the chargeback or dispute.
Transaction details, including date, amount, merchant name, and any other relevant information.
Proof of payment to the merchant.
Proof of engagement with the merchant (e.g., attempts to resolve the issue directly before filing the dispute).
Any additional supporting documents to validate the claim.
Upon receiving the dispute, the team will acknowledge receipt and begin an investigation.
During the investigation, we will maintain communication with the cardholder and may request further information if necessary.
After completing the investigation, the cardholder will be notified of the outcome, whether the chargeback was approved or rejected, along with any subsequent steps to follow.
Timeframe for Chargeback Initiation and Resolution:
Cardholders typically have between 30 to 120 days from the original transaction date or the expected delivery date to file a chargeback/dispute.
Similarly, the resolution process for a chargeback usually takes between 30 to 120 days to complete.
Additionally, A non-refundable chargeback processing fee of $40 will be deducted from the cardholder’s balance before initiating the chargeback process.