Certainly! Chargebacks can be a frustrating experience for both buyers and sellers. It's important to understand that a chargeback occurs when a customer disputes a charge on their credit card/payment statement, and it can happen for a variety of reasons. As a seller, it's important to understand the process and how it can impact your business.

At Cosmofeed, we understand that chargebacks can be a headache. That's why we fight every chargeback on behalf of our sellers. We work hard to provide the necessary documentation to show that the charge was legitimate and that the customer intended to make the purchase.

However, it's important to keep in mind that chargebacks are an inevitable part of processing online payments. Any website that accepts credit cards, debit cards, or any mode is subject to disputes and chargebacks from customers. Some common reasons for chargebacks include a purchase made with a stolen credit card, a customer not recognizing a charge on their credit card statement, or a customer believing they have not received the product they paid for.

In the event of a chargeback, the seller is only responsible for refunding the amount of the purchase, while the payment processor covers associated fees and takes the hit on its credit line. That's why preventing chargebacks is in everyone's best interest. By working together, we can reduce the number of chargebacks and ensure that transactions are completed smoothly and securely.

If a chargeback is resolved in the seller's favor, the money is refunded to their Cosmofeed account. However, if the dispute is not resolved in the seller's favor, the money is lost, and Cosmofeed is unable to intervene in the dispute resolution process for transactions.

We hope this information helps you understand the chargeback process a little better. If you have any questions or concerns, please don't hesitate to reach out to our support team. We're here to help!

FAQs-

1.)What is the success rate of Cosmofeed in fighting chargebacks?

It's important to keep in mind that while we do our best to fight chargebacks, there is no guarantee that we will win every dispute. However, we have been successful in resolving a majority of the chargebacks we've fought.

In the event that we do win a dispute, we will notify you immediately and the funds will be refunded to your Cosmofeed account. We understand that chargebacks can be a frustrating and time-consuming process, which is why we work hard to fight them and keep our sellers informed every step of the way.

To help minimize the likelihood of a chargeback, we recommend that you provide as much detail as possible about your products or services and require confirmation emails from customers to confirm their purchases. By taking these simple steps, you can help ensure that your customers are satisfied and that chargebacks are less likely to occur.

2.)How long does it usually take to resolve a chargeback dispute? The time taken to resolve a chargeback can vary depending on several factors such as the reason for the chargeback, the complexity of the case, the evidence provided, and the policies of the Bank. In general, chargeback disputes can take anywhere from several weeks to several months to be resolved. It's important to note that chargebacks can be a time-consuming and frustrating process for both the seller and the buyer. Therefore, it's essential to provide accurate and detailed information during the initial transaction to avoid any misunderstandings or disputes.