What is a chargeback?

A chargeback is a demand by a consumer’s card issuing bank to return the amount charged to the customer by a merchant. This can occur if the consumer disputes a charge with their bank. The issuing bank then contacts NayaPay and escalates the disputed transaction. NayaPay must withhold funds till the dispute is resolved and will deduct a dispute settlement fee from the merchant’s account. This process can become involved and requires extensive coordination and submission of evidence for which NayaPay will coordinate between you and the issuer’s bank. If the issuer rules the dispute in your favor, the disputed funds will be credited back to you.

If you accumulate too many chargebacks, the card may suspend or block you from accepting card payments.