Here is an overview of the chargeback process at Payyo:
- Payyo receives a notification from the acquirer that the cardholder has opened a chargeback.
- The money is immediately returned to the cardholder’s bank. The transaction amount will be deducted from the merchants balance.
- Payyo notifies the merchant by email to contact the customer and send us any relevant information and correspondence that could be used to help dispute the claim.
- Payyo will forward any relevant information to the issuing bank for their review.
- The issuing bank may request more information to help confirm that the transaction was legitimate.
- Payyo notifies the merchant of the outcome
If the merchant does not reply within 3 days, the chargeback is treated as accepted and the dispute is marked as “lost”.
There are two possible outcomes of the dispute:
LOST: If the decision is closed in the cardholder’s favour, chargeback will be marked as lost and the money will be returned to the cardholder’s account
WON: If the information provided was sufficient to dispute the cardholder’s claim, the case will be marked as won and the funds will be returned to the merchant’s balance.