PayPal has an extremely large brand authority for online payments, this is one of the reasons why PayPal chargeback has now become one of the hottest dilemmas between online sellers. So in this article, we are going to know how we can chargeback on payment or simply get a refund for payment.
First of all, what is a Chargeback?
PayPal defines chargeback as when a customer files a chargeback with their credit card issuer, this implies that they are disproving a charge and requesting the card issuer for a refund.
Buyers can easily request for refunds for their transactions and actually tell their credit card company to cancel/refund the payment they made. These refunds are called “chargebacks” in terms of banking.
In the case of the chargeback, PayPal can freeze the funds in the seller’s account. There are some reasons that can lead to a chargeback, they include:
- If the buyer did not receive the product(s)
- If the buyer gets a defective or damaged item(s)
- If the buyer does not remember the credit card payment
- If the buyer receives the charge more than once for the transaction
- If the buyer did not approve the payment
In the case of a chargeback on PayPal, the seller might be charged a chargeback fee but this fee can be waived (in some cases) off if the seller has subscribed to the Seller Protection Policy.
The perfect way a seller can be able to manage chargeback on PayPal is by making use of the breakthrough eCommerce assurance & order verification app. These apps charge a meager amount to guarantee verification of orders and give a 100% refund guarantee in case of the chargebacks.
How the PayPal Chargeback Operates
In general, when a buyer demands a chargeback, the customer service will contact the buyer’s credit card issuer immediately. PayPal does not really have any authority during the process of the chargeback though.
How to Request for Chargeback
- First, the buyer will demand a chargeback from their credit card issuer for, then they will get a phone call or email with complete evidence if the transaction is enough.
- Now, the credit card issuer will inform PayPal’s official merchant bank and withdraw the funds from their account.
- PayPal will then put the chargeback funds on hold and make them untouchable.
- Then both the buyer & seller will get a notification via email. PayPal will demand all the required details that can help resolve the chargeback.
With that, the chargeback will be resolved.
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