The work of processing a chargeback falls on banks. But why is dispute resolution a completely different experience for banks than it is for cardholders?
Of course, there is a major emotional difference between the cardholder who is requesting the chargeback and the bank that has to sit in judgment of the transaction. Typically, cardholders want to raise disputes because they believe they deserve them. Banks, however, must remain unemotional. They are obliged to analyze and respond to each and every request to raise a dispute in an impartial manner. Their decisions must be subject to the chargeback guidelines issued by each credit card network, not by the opinion of the cardholder nor that of the merchant.
In this podcast, Judith Dayan Persson, MyChargeBack's Vice President of European Operations and Business Development, explains why dispute resolution is a complex and intricate process that requires a careful understanding to keep losses at a minimum, while at the same time assisting the customer and identifying the various chargeback options that are available. It can turn out to be a balancing act.