Visa Chargeback Guide 2024

Do you know what Visa chargeback guide is? A Visa chargeback guide is a process that allows visa cardholders to dispute transactions made on their visa credit or debit card. If someone buys something with the intent of using a visa and finds out later they didn’t have enough money, they can contest the purchase by filing a complaint with their bank. In this blog post, we’re going to discuss visa chargebacks in detail as well as how to avoid them.

The visa chargeback system was created in 2008 with the intention of protecting cardholders from unfair or fraudulent purchases.

Levels of Dispute Resolution at Visa

Visa has a three-level dispute resolution process:

  • Dispute Resolution Level One is an informal review by visa staff that can be completed online, over the phone, or through email. Most disputes are resolved at this stage.
  • Dispute Resolution Level Two requires the cardholder to send a letter of complaint, along with evidence and supporting documentation. Visa will then investigate this dispute by reviewing documents that might have been missed at level one. If Visa finds that there is no fault on their end for not preventing the fraudulent charge, they can issue a refund or credit through the issuer.
  • Dispute Resolution Level Three is a formal arbitration process that can only be used if Visa has refused to grant a refund or credit at the previous levels of review and dispute resolution. It involves an independent arbitrator who will look into all different aspects of the case, including relevant documents from both sides as well as witness testimony. Visa may also appoint an expert to provide a technical opinion.

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After Visa has gone through the dispute resolution process, there will be one of three outcomes: visa can issue a refund or credit on their end for all disputed transactions; visa can refuse to grant a refund or credit and instead take legal action against the cardholder if they believe that fraud has taken place; visa can ask for a chargeback on the disputed transactions.

Most Visa chargebacks are always delivered in person to the merchant. If funds have been released from Visa or Visa network partner’s escrow account to pay the cardholder, Visa will request that these funds be returned as well.

Steps to Protect Yourself Against Visa Chargebacks

The following are necessary actions you should take to protect yourself from Visa chargebacks:

  • Ensure all visa transactions are legitimate and authorized with a proper authorization code.
  • Make sure the cardholder has signed up for their purchase. This will serve as a receipt for your business, proving that they have acknowledged the transaction was made with their visa card.
  • Keep all sales and receipts organized. It will be easy for you to provide this information to Visa in the event of a chargeback dispute.

Visa Chargeback Verification Process

In this Visa chargeback guide, we illustrate the steps taken by Visa to verify a chargeback.

  • Visa will reach out to you and ask for your perspective on the transaction dispute, if necessary. Your business may have more information about what happened or why Visa was not authorized then Visa would be able to discover otherwise.
  • If you are unable to provide any additional details due to a lack of information, Visa will reach out to their customer for their perspective.
  • In case Visa makes a decision on behalf of your visa customer based on what they have been told by you or Visa is unable to find any new evidence about why the chargeback was disputed in the first place and can’t determine who should be awarded funds from this transaction dispute, Visa will return the funds to your visa customer.
  • If Visa is able to find new evidence and can determine who should be awarded funds from this transaction dispute, then Visa may help get you an authorization for 100% of the disputed chargeback amount with a low fee or no fee at all.

Key Take Aways

  • To win a Visa chargeback, you must keep proper transaction records. Moreover, you must have excellent customer service like transparency for refunds.
  • For a Visa chargeback to work, you must start by launching a dispute with your issuing bank. The bank can either acknowledge or decline the dispute.

Expert Tip: This Visa chargeback guide can be an essential reference point for merchants. However, large and intractable chargeback issues call for more focused and specialized attention. At this point, you may need the help of chargeback management firms. These firms will help you navigate complicated card network rules to create a chargeback defense strategy. With such a strategy, you are protected from preventable chargebacks regardless of the source.

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