Credit Card Chargebacks: Key Info & How to Resolve them on Floorzap Payments

Important Credit/ Debit Card Chargeback Related Information

• Both Chargebacks and Refunds are debited from your Floorzap Payments merchant account, not directly from your bank account.
• Each Chargeback instance carries $15 fee applied to your Floorzap Merchant Account
• The merchant portal should always be your first step in the Chargeback Management process for the following reasons:
  • In order to review chargeback reason
  • Verify if its defendable or automatically lost
  • Clarify the specific transaction that is being disputed in order to contact the customer
  • Dispute documentation is submitted here. Chargeback Customer Guide for Floorzap Payments contains step by step instructions on how to do so.
• For further details and explanation of the chargeback for the specific card brand, please refer to the corresponding Chargeback Reference Table
• A notification of Fraud on a card related payment is NOT a chargeback yet but has a high likelihood of turning into one
  • Contact the customer ASAP and clarify their reasoning for initiating the notice
  • If it was due to a simple misunderstanding, direct the shopper to call the phone number listed on the back of their card immediately. Their card network can withdraw the notice and prevent any funds from being affected
  • A notification of Fraud does not carry a $15 fee, only when an open chargeback occurs is there a fee

Card Chargeback Example:

• In this example, the account is on a T+2 (transaction date plus two business days) funding delay and has taken a $1000 Mastercard payment with a $30 processing fee. A “4837 - No Cardholder Authorization” chargeback occurred which the merchant has up to 45 days for defense documentation to be provided. The table below will show the payment flow of the funds in question for reconciliation and account purposes.