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“There are several reasons a chargeback can occur. A few common examples are:

  • When the acquiring bank or payment service provider of a merchant submits a transaction that has not been properly authorised by the issuer and cannot be honoured;
  • When the card details are fraudulently used;
  • When goods or services are not as described or not provided;
  • If the transaction amount is incorrect.

“If auctioneers or dealers receive a chargeback for goods not delivered, they should document delivery of goods to the specified address, ideally with signature if possible.

"Merchants can minimise fraud chargebacks by using secure methods of payment, card present with chip/pin or contactless and ‘Cardholder Not Present’ transactions with secure authentication (Securecode).”