Criminals are constantly finding ways of defrauding unsuspecting cardholders and merchants, so we work hard to keep merchants informed about trends in fraud. Our authorisation centre has special processes in place to protect merchants from fraud and can help you when you need to check or report a suspicious transaction.
If a customer disputes a transaction on their card due to fraud, a chargeback can be applied. This means that the merchant’s account will be debited with the same amount that was originally credited from the client’s account. Besides fraud, chargebacks can occur due to processing errors, authorisation issues and the non-fulfilment of copy requests.
For merchants, chargebacks can be inconvenient, time-consuming and costly as you can lose both the Rand value of the transaction and the related goods or services. By understanding and adhering to the rules and regulations of your Merchant Agreement, you can protect yourself and your business against chargebacks. Practical tips include the following: