Common use of Untimely Disputed Chargebacks Clause in Contracts

Untimely Disputed Chargebacks. If the Chargeback is not disputed within the applicable time limits set forth by MasterCard, Visa, and Discover Network rules and regulations, reversal rights are forfeited. Our only alternative, for Visa and MasterCard non-fraud Chargeback reason codes, is to attempt a “good faith collection” from the Card Issuer on Your behalf. This process can take up to six (6) months and must meet the Card Issuer’s criteria (e.g., at or above a set dollar amount). Good faith collection attempts are not a guarantee that any funds will be collected on Your behalf. Card Issuers normally charge good faith collection fees, which are deducted from the transaction amount if accepted in addition to any processing fees that are charged by Payment World. NOTE: Discover Network does not offer good faith collection for Acquirers. MasterCard and Visa Association Rules require that a merchant make a good faith attempt and be willing and able to resolve any disputes directly with the Cardholder.

Untimely Disputed Chargebacks. If the Chargeback is not disputed within the applicable time limits set forth by MasterCard, Visa, and Discover Network rules and regulations, reversal rights are forfeited. Our only alternative, for Visa and MasterCard non-fraud Chargeback reason codes, is to attempt a “good faith collection” from the Card Issuer on Your behalf. This process can take up to six (6) months and must meet the Card Issuer’s criteria (e.g., at or above a set dollar amount). Good faith collection attempts are not a guarantee that any funds will be collected on Your behalf. Card Issuers normally charge good faith collection fees, which are deducted from the transaction amount if accepted in addition to any processing fees that are charged by Payment WorldPaymentWorld. NOTE: Discover Network does not offer good faith collection for Acquirers. MasterCard and Visa Association Rules require that a merchant make a good faith attempt and be willing and able to resolve any disputes directly with the Cardholder.