What is a dispute/chargeback?
A chargeback or dispute takes place when a cardholder disputes a card payment and asks their issuing bank to reverse it. To charge back the payment, the bank submits a formal dispute on behalf of the customer.
Nets Estonia solution
Nets Estonia offers Fraud and Dispute Services as additional services to the card Issuers.
Nets Estonia provides Fraud Prevention service - it is a rule-based system to detect and decline incoming fraudulent authorizations in real-time. If this service is selected by the issuer, the service is part of the authorization process and can prevent fraudulent third-party transactions before the authorization is finally processed and accepted.
Nets Estonia can handle each of the steps Dispute process: Retrieval request, Chargeback, Arbitration chargeback or prearbitration, Arbitration, Precompliance, Compliance and Collection.
Nets Estonia is handling all related issues in accordance with existing Visa and MasterCard rules and best practises.
