Issued the credit but did not deposit it with its processing bank in time for it to appear on the cardholder’s next statement. This definitive guide includes the chargeback rationale codes from each of to four major card networks. 1. The reason_code field lists the reason code the issuing bank has assigned to the chargeback. A chargeback is the potential outcome of a disputed credit or debit card transaction. Reason. pdf - Free download as PDF File (. WEX began issuing chip cards in Q4, 2020. many chargeback reason codes that exist today. Responding to a chargeback request. P04 – Charge Processed as Credit. UA10 Request Transaction Receipt (swiped card transactions) UA11 Cardholder claims fraud (swiped transaction, no signature)Get definitive guide includes the chargeback reason codes from all of the to majority card networks. Prevention alerts arrive within 24 hours of a dispute. 60 due to merchandise, fees, overhead, and other sources of loss. We assign the dispute to you for review in your Customer Area > Risk > Disputes, or send you a webhook. This reason code indicates that the merchant processed a transaction without first obtaining a correct and valid authorization approval. Codes—Contains detailed information on the reason codes for the most common types of chargebacks that merchants receive . Try Shopify free for 3 days, no credit card required. Processing Errors involve chargeback and disputes revolving around processing issues, late presentment, credit processed as charge, invalid card numbers, no show errors, incorrect charge amounts. About Discover chargeback reason codes. When a cardholder makes a purchase, but regrets it later, they may file a chargeback to recoup their money. ” This code indicates the merchant waited too long to finish processing a transaction, and the account was no longer in good standing when the transaction was completed. 11. Articles; Chargeback Reason Codes;. What are chargeback reason codes? Mike Conway 2021-03-04T20:56:54+00:00. A “No Authorization” code chargeback can also be the. Please provide. Merchants who receive a chargeback for a transaction placed with an American Express card may encounter reason code FR2, which indicates an unauthorized charge that the cardholder does not believe they should be responsible for paying. 3. Blog Read helpful tips, industry insights, and articles to create the most effective chargeback management strategy. Common reason codes Mastercard. ”. High-Risk (Excessive): Reaching a chargeback ratio of. 4512:American Express Chargebacks / Disputes. eCommerce. Reason Code North-America: Canada and United States of America; Reason Code: All other countries; Fraud. The Merchant Reviews the Partial Chargeback Claim. 4853 – Cardholder Dispute – Goods or Services Not as Described or Defective. Reason Code 02. 2 Compliance CasesIf they think it does, they assign it a reason code and credit the funds back to the cardholder’s account. This information should be based on the Visa chargeback reason codes assigned to the case. Step #2 | Report the Scam to PayPal. Banks, however, categorize chargebacks or disputes depending on the card used when a chargeback occurs. It is important for the merchant to know about the American Express Chargeback. And, each code has unique compelling evidence requirements if you choose to fight. most common reason codes for recurring merchants include: 7. Merchant processed transaction below floor limit without authorization. When a customer who's enrolled with 3-D Secure from their bank initiates a purchase, the tool will deploy during the checkout. 65% with at least 75 total disputes. 4. Friendly fraud. Not only that, but a higher win rate may incentivize banks to conduct greater due diligence before filing a chargeback in the future. ONE reason code is an alphanumeric code selected from a fixed list by the issuing bank to indicate the reason of cardholder gave for requesting a chargeback. There are multiple situations in which this can occur. The chargeback reason codes were created to standardize the list of acceptable reasons a bank may submit a card chargeback or a direct debit chargeback on behalf of its customer. At their core, false declines. Visa. Understanding these codes is essential because they'll guide your response strategy. So the company has more incentive to side with customer during cardholder. The merchant did not receive any returned merchandise. Summary of Changes, 13 December 2018Over the last three years, so-called friendly fraud has become the number-one source of fraud as reported by merchants are forced to deal with. However, the disputes themselves are still categorized by the issuing bank based on the card network issuing the card. 5. 4512:Chargeback Reason Codes Fraud – Card-Not-Present (CNP) Network Reason Code Bank Initiation Timeframe Accel 81 120 calendar days from transaction processing date American Express FR2, F14, F24, F29 120 calendar days from transaction processing date Discover 4752 AA, 7030 UA02 Within 30 calendar days from the close date of the TRRThe client will send this dispute to Paymentology’s Global support team via email – support@paymentology. For instance, if the customer claims unauthorized purchase, your letter should cite evidence, such as an IP address matching previous purchases, to support. • Chargeback Reason Code – Each chargeback contains a reason code that signifies the reason for the dispute and the rules that must be followed by the issuer and the merchant in order to resolve the dispute. If the CID doesn’t match, merchants generally prompt the Card Member to re-enter it. The shorthand description is “Incorrect Charge Amount. Reason. . Invalid Authorisation (ISO 4521) / Charge amount exceeds Authorisation amount (A01). 75 for every $1. Scenario 2. We have mentioned all the chargeback categories above to explain the Chargeback Reason Codes according to the card networks. . For example, your trading name on the receipt differs to that on their statement. Acquirer Use of Message Reason Code 7623. Cause The merchant picks the wrong choice on their processing interface and runs a transaction as a refund. A few other common reason codes for Visa include late presentment; non-receipt of cash from ATM; invalid data; EMV liability shift non-counterfeit fraud; no authorization; canceled merchandise and fraud related to stolen cards on the card recovery bulletin. Chargeback. A well-structured rebuttal letter should address the chargeback reason code, clearly explaining why the cardholder's dispute is not legitimate and why the funds should be returned to you. Chargeback . Click “filter orders”. Here’s how your store can prevent and deal with chargebacks. These codes explain the reason why the chargeback was filed, and the reason the chargeback was approved. address the specific dispute reason, provide any changes made to the. Find every single American Express Chargeback Reason Code, as well as information to help you prevent and win American Express dispute cases. 195 Acquirer Use of Message Reason Code 7627-No MAC Provided. In addition to Reason Codes changing as a result of the VCR program, each Reason Code is now associated with a new Reason Category. The shorthand description is “No Authorization. And, each code has unique compelling evidence requirements if you choose to fight. Specify the default reason code that you want the system to assign when you enter a chargeback amount. Mastercard Chargeback Reason Code 73: Duplicate Transaction. 3: Goods or services were not as described: C31: RM: 13. Merchants. Nothing immediately identifies a chargeback as being the result of first-party misuse. With that said, you still need to understand the reason codes with any chargebacks from Amex. ”. Specify the invoice date and net due date to assign to chargebacks. If you believe you have received an ACH return in error, you can contact your bank. Categories for reason codes have changed over the years, especially because of the increasing number of. Visa requires processors and banks use to this system for multiple tasks, including challenging initial chargeback results. Analyze your chargeback data. Chargebacks Explained;. American Express chargeback. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. Here is an overview of how the general chargeback process works with most major processors (we’ll get into how Square does it down below) Step 1: A purchase occurs. American Express uses four main categories to organize its reason codes: Authorization, Card Member Disputes, Fraud, and Processing Errors as well as two additional categories, Inquiry/Miscellaneous and Chargeback Programs, to classify just a handful of reason codes. P04 Charge Processed as Credit P05 Incorrect Charge Amount P07 Late Submission P08 Duplicate Charge P22 Non-Matching Card Number P23 Currency Discrepancy Card. The good news for those using Shopify Payments, the hundreds of reason codes and buckets them into eight. Chargeback reason code 4837: No Cardholder Authorization applies in situations where customers claim a card transaction was unauthorized, but do not feel the issue can be resolved through the merchant. Each of the major card brands, including Visa, Mastercard, and others, have their own system of reason codes. However, the return request is invalid, as the customer does not have a legitimate right to a refund for one reason or another. P07 – Late Submission. 3. Either the acquiring or issuing bank could initiate the chargeback. Visa Code # MasterCard Code # Reason. The network hasn't wholly disallowed some old codes. 9% and 100 chargebacks per month], you can get into the excessive chargeback program, which can cause penalties of up to $50 per chargeback. VCR tables (Figures 1 and 2) map the old Reason Code to its new Reason Code. ECM monitors first presentment chargebacks regardless of reason code or transaction type. might reverse the Chargeback. EMV Liability Shift Counterfeit Fraud. up under any number of different chargeback . In such circumstances, networks like Mastercard may allow consumers to reverse such a transaction by filing a chargeback. Code 4807: Fraudulent Card-Present Transaction. Everyone has had the experience of buying. Find out the hidden impact of chargeback reason codes. Also, remember that the time frame for your response includes any processing required by the acquirer. Provide exemplary customer service. The cardholder does not recognize your name on their statement. 102. pdf), Text File (. See moreAmerican Express chargeback reason code P04 falls under the “Processing Errors” category. If you want a more thorough explanation of a given reason code, you can find it in our reason code lookup tool. (P04) Description. 6. On the home screen, tap “Disputes. Submitted: The response has been sent and the issuer is. Complicating things further, friendly fraud doesn’t provide you with any red flags. If you're contesting a chargeback, you'll need solid evidence. underlying your chargeback. When a customer who's enrolled with 3-D Secure from their bank initiates a purchase, the tool will deploy during the. 0. P04: Charge Processed as Credit: Processing Errors: P05: Incorrect Charge Amount:. These disputes are commonly referred to as friendly fraud. Each chargeback reason code has its own set of specific documentation requirements so merchants should familiarize. The following are reason codes for the same scenario: Visa: Reason Code 30 Services not provided or merchandise not received. Time Frames by Chargeback Type and Reason Code. Various situations can lead to a dispute for this reason. 2. This code tells you why the customer or bank initiated the dispute. Here are the two possible scenarios: 1. A credit card chargeback is when a bank returns money to you because a credit card charge was fraudulent or you bought something online that wasn’t delivered or was. Fight; Prevent; Get; Assets. Chargeback Reason Code. The newer system is designed to. Solutions. Chargebacks have both short and long-term ramifications for merchants. . Amex Dispute Codes The Visa chargeback reason codes system underwent a major overhaul in April 2018 as part of their new Visa Claims Resolution (VCR) initiative. When faced with a chargeback, you are Business owners accepting debit or credit cards understand that chargebacks are a common phenomenon in their businesses. High Level Visa Chargeback Dispute Flow. Get your complete guide to Mastercard reason codes, including all the detailed information, chargeback time limits, and other important information you need. Reason. Because it’s so easy for customers to initiate a chargeback, retailers are bound to experience a request at. By entering your email, you agree to receive marketing emails from Shopify. Build & Submit a Representment Case in 4 StepsA counterpart program, the Visa Dispute Monitoring Program, may apply to both fraud- and non-fraud-related reason codes. This reason code is used when a cardholder claims that the merchant charged them for a different amount than what they agreed to pay. The nature of the threat makes it a moving target. 3. Issuer Review; Allocation. No ResultEvery chargeback comes with a reason code. 5 Visa Fraud Monitoring Program. Additionally, Amex uses a fifth "Miscellaneous" category. New Visa CE 3. Chargeback Codes (continued) C04 Goods/services returned. It gets worse. Request for Information. Reason Code Description 4750 AL Airline Transaction Dispute 4541 AP Recurring Payment. The terminal action codes are in Table 122 of the 4. It should ultimately help prevent fraud and unwarranted chargebacks, specifically applying to disputes marked with a Visa reason code 10. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. This means that it will require merchants to provide evidence supporting their claim that a transaction was authorized by the cardholder. Card Recovery Bulletin Authorization Visa Code: 11. 3 is an updated version of legacy Visa reason code 72, which was phased out under the Visa Claims Resolution initiative. 2: Cancelled recurring transaction: VCR Dispute Reason Code 13. May 2011: 5. The newer system is designed to. Added the following fields - Store ID, Credit Card Chargeback Reason Code. P01 – Unassigned Card Number. MasterCard - 4855 Goods or Services Not Provided. Code Severity & Symptoms. P04: Card Sale Posted as a Credit: 120: Processing Errors: Amex: P05: Transaction amount differs: 120:Chargeback Reason Codes 85 and 4860 may be caused because the merchant: Did not issue a credit. The Electronic Fund Transfer Act is a piece of US legislation that requires banks to provide certain information to customers regarding electronic fund transfers (EFTs). Chargeback reason code 11. 4: Other fraud: Card-absent environment: VCR Dispute Reason Code 13. It can protect against criminal fraud attacks, but equally important, it protects you from liability due to fraud and other losses. Chargeback Reason Codes List for Mastercard Chargeback Code Chargeback Reason 4801 Requested Transaction Data Not Received 4802 Requested / Required Information Illegible or Missing 4807 Warning Bulletin File 4808 Requested / Required Authorisation Not Obtained 4812 Account Number Not on File 4831 Transaction Amount Differs 4834 Duplicate. Paymentology will submit the chargeback using the appropriate chargeback reason code. The merchandise was as described or was not defective. That’s 50% more time than what the major card networks allow. 10301. Visa ® has launched the CE 3. P04 Credit Posted as a Sale P05 Transaction amount differs P06 Late PresentmentA chargeback reason code is just what it sounds like: A code indicating the reason a charge was disputed and a chargeback occurred. Despite concerns about increased friction, every merchant should deploy 3-D Secure at checkout. In most cases, the bank chooses a course of action based on information the cardholder provides. Managing Reason Code 41 chargebacks. Every dollar disputed represents a loss to the merchant of $3. Chargeback Reason Codes / American Express / P04 – Charge Processed as Credit / Reason Code. Reason Codes Category 4: Processing Errors. Whether the CID — the four-digit security code on the front of the Card — matches the issuer’s records. Visa Chargeback Reason Codes; MasterCard Chargeback. NACHA Return Status Codes. Chargeback amount is equal to or less than the exceeded limited /authorised amount. Most acquiring banks put a timeframe on when customers can initiate a chargeback for a purchase. Category. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. 10. People request chargebacks for all kinds of reasons—some sinister (like friendly fraud), some because the item they bought never arrived. 36. 2. But cardholders and merchants have different time limits. Merchants who receive a chargeback for a transaction placed with an American Express card may encounter reason code F29, which indicates an unauthorized transaction that the cardholder does not believe they should be responsible for paying. You can be inducted into both programs at the same time. Note that a chargeback is a forced bank reversal that always results in additional fees and penalties for sellers, regardless of the validity of the buyer’s claim. Moreover, there are other two categories to handle the Amex chargeback: inquiry and chargeback programs. Pursuant to the Fair Credit Billing Act of 1974, cardholders have the right to dispute unauthorized or erroneous charges, and issuing banks must reverse a disputed transaction if the cardholder’s claim. This provided a number of insights into the typical. Any time. It also has a multiplier effect that extends damages well beyond the amount of the disputed charge in question. When you do the math, you are looking at a $5,000 penalty per month, along with a chargeback fee of $15-$30 per chargeback, and all the other associated costs. 1 Authorisation . The tickets were held at the box office, and no signature, swipe or imprint of the card was obtained when the tickets were released. 0. txt) or read online for free. Discover is a credit card network and an issuing bank—just like American Express. 0. This definitive guide include the chargeback base codes from each away and four more card networks. 41 4841 Cancelled Recurring Transaction 53 4853 Not as Described or Defective Merchandise 57 4840 Fraudulent Multiple Transactions 62 4870/4871 Counterfeit Transaction Being familiar with the potential chargeback reason codes gives recurringThere are plenty of reasons as to why this would happen, hence the many. Automate Tasks & Streamline Processes Let Midigator remove complexities and improve the efficiency of your chargeback management strategy. With the implementation of Visa Claims Resolution, reason code 98 eventually became obsolete. The cardholder does not recognize the Merchant. 3 falls under the “Consumer Disputes” category. If your chargeback ratio is high [i. The reason code may not necessarily reflect the actual reason for the chargeback, but you ought to respond to it based on the provided chargeback code. About American Express chargeback reason codes. Written to Chargeback Gurus. They also can’t prevent the lost sales revenue and merchandise resulting from a consumer dispute. While there are reason codes related to processing errors that cause disputes, the majority of reason codes result from a cardholder disputing a charge. Discover Chargeback Reason Codes Explained. September 2011: 5. High-Risk (Excessive): Reaching a chargeback ratio of. The chargeback period, or the time limit for filing a chargeback, depends on the card scheme and the chargeback reason code. Updated Disputes/Chargeback Policy Coming April 2024The chargeback reason code. If a dispute is filed with Discover and a ticket retrieval request is sent, the merchant has just five calendar days to respond with. American Express chargeback reason code C42. 3 falls under the “Authorization” category. Specify the default reason code to. Chargeback Reason Codes by Mesh - 2023 Guide. Reason Code P04 Category Processing Error Claim The cardholder claims the merchant should have processed a regular transaction on their card, but instead, the merchant. Description: Reason Code: Explanation: Incorrect Card Number: American Express P01, P22; Discover IN; Mastercard 4808; Visa 12. Amex Processing Errors Chargeback Reason Codes P01 — Unassigned Card Number. Duplicate transaction. In addition to Reason Codes changing as a result of the VCR program, each Reason Code is now associated with a new Reason Category. If you get a chargeback,. 3 –. In general, the unauthorized use of a parent’s credit card by a child is not considered a legitimate reason for filing a chargeback, since it is not criminal fraud, and the customer received the purchased goods or services. Specifically, it has introduced a Compelling Evidence requirement for disputes falling under the Visa CE/30 chargeback reason code. Using the same link provided above, contact PayPal to report the scam. The most common chargeback reason codes are fraudulent charges, unauthorized transactions, and products not received, however, there are dozens of different chargeback reason codes for cardholders to choose from. 5 Categories of Visa Chargeback Reason Codes. Chargeback Representment. The customer regrets their purchase. This ranges anywhere from roughly 60 to 90 days after purchase. Those reasons are explained through the corresponding reason codes. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. The process is often troublesome; most times, reason codes do not show the actual basis why customer is disputing a transaction. Solution Case Studies Partners Company Blog Resources Data & Compliance FAQ See It In Action. The Visa chargeback reason codes system underwent a major overhaul in April 2018 as part of their new Visa Claims Resolution (VCR) initiative. (Visa chargeback reason code 10. As a merchant, you face the brunt of chargeback losses. Merchant needed to charge an account, but instead processed it as a credit. When you receive a chargeback request, respond promptly with any relevant information or evidence that supports your case. ”. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. Reason Code 53 chargeback can be re-presented in one of the following circumstances: chargeback is invalid or a credit was processed. 6. At Visa they used to receive reason code 98. CB CD (chargeback reason code) Enter the code that identifies the reason that a chargeback was generated for an invoice during receipt entry. View the entire list or search for any chargeback reason code. Paymentology will submit the chargeback using the appropriate chargeback reason code. 10201. Fight; Prevent; Recover; Predict; Success Story; Resources. Visa ® has launched the CE 3. prenotification of chargeback, depending on the chargeback reason code, to the agency requesting additional documentation to properly dispute and remedy the chargeback. 4 Fraud – Card-Absent Environment. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. Even though these codes are not detailed enough, they are crucial when it comes to successfully preventing and fighting chargebacks. Upfront Chargeback If we determine we have sufficient information to pursue a Chargeback, we may debit your account up front. Expedited Dispute Resolution forms will not be allowed. 00 in chargebacks. May 2011: 5. Once you know why a chargeback happened, you can start building a case to address the claims that were made. Discover - RG Non-Receipt of Goods, Services, or Cash. Written by Chargeback Curators. Get your complete guide to Amex reason codes, including all the detailed information, chargeback time limits, and other important information you need. We assign the dispute to you for review in your Customer Area > Risk > Disputes, or send you a webhook. This code applies when valid authorization for a transaction was required but not obtained, and the merchant processed the transaction anyway. There are dozens of reasons why cardholders and issuers dispute transactions. In the distribution industry,. P04 P05 P07 P08 P22 P23 R03 R13 Select a code to see the details QUICK REFERENCE Time to respond: 20 days from date of chargeback. This reason code indicates that the merchant processed a transaction without first obtaining a correct and valid authorization approval. 10201. The agency must provide this documentation to Vantiv (via mail, fax, online/scanning) within 30 calendar days after the report date on the Visa/MasterCard. 60. 9% with at least 100 total disputes. Your first step is to identify the chargeback reason code, which is a kind of shorthand that indicates why the transaction is being disputed. Each card. The reason code attached to each chargeback will tell you whether or not it’s considered a processing error. 196for chargeback reason code 4863 (Cardholder Does Not Recognize). It’s generally a good idea to be. 39 or refused. The issuing bank collects evidence from the customer and categorizes the chargeback using the appropriate, card network-specific, reason code. P04 Charge processed as credit. The reason code also presents a timeline to fight the chargeback and what evidence is needed to reverse the chargeback. Supporting Documents You could potentially reverse a Chargeback by providing the necessary supporting that the transaction was either approved online by the issuer or offline by the chip. American Express uses four main categories to organize its reason codes: Authorization, Card Member Disputes, Fraud, and Processing Errors as well as two additional categories, Inquiry/Miscellaneous and Chargeback Programs, to classify just a handful of reason codes. The following chargeback reason codes are related to EMV: Visa: 10. Learn about the different chargeback reason codes and what they mean. 4853 – Cardholder Dispute – Digital Goods Purchase of $25 or Less. Specifically, it has introduced a Compelling Evidence requirement for disputes falling under the Visa CE/30 chargeback reason code. 3: Goods or services were not received: C08: RG: 4855: 13. This authoritative guide includes the chargeback reason key from each from the four major card netz. Chargeback /Dispute; Merchant Response. To submit your documents to Wave, use the link in the chargeback notification email, or reply to the email. Card Recovery Bulletin Authorization Visa Code: 11. com. Blog and Articles; Success Stories; Chargeback Reason Codes;. Chargeback reason codes are set by the card networks and used by card issuers to categorize chargebacks. Every of the major card brands, the inclusion of Visa, MasterCard, and others, has its acknowledged system of reason codes. Additionally, one clearing transaction. 0 is to make the chargeback process more efficient, transparent, and fair. The first two digits indicate what category the reason code falls under: 10 for Fraud, 11 for Authorization, 12 for Processing Errors, and 13 for Customer Disputes. In some cases, errors can be resolved and reversed, but there is no equivalent to chargeback representment when it comes to ACH. They are provided to the merchant by the issuing bank, and they help all involved parties categorize disputes and determine next steps. 0 hour of labor. Visa has recently announced changes to its chargeback rules. The assigned chargeback reason code outlines why a customer submitted the dispute. So the company has more incentive to side with customer during cardholder. The goal is to reduce ‘friendly’ fraud chargebacks, helping sellers protect more of their hard-earned revenue. This may include: Transaction receipts; Merchant credentials; Customer authorizationREQUEST A DEMO. A01 | A02 | A08. Select a tab to see the possible. Declined Authorization Authorization Visa Code: 11. Try Shopify free for 3 days, no credit card required. When one cardholder initiates a dispute with their issuing bank, a. Chargeback time limits vary widely depending on the issuing bank, and the chargeback code or reason. 3. The notification will also specify the terms of the agreement under which Amazon Pay will assist you in handling the chargeback. P08 – Duplicate Charge. This scenario applies when the arbitration was raised by either the. 3 falls under the “Authorization” category. It is important to identify and understand the root cause and take the necessary steps to dispute the chargeback. The Time Frame charts in this guide indicate the reason codes, allowable time frames for chargeback processing and type of chargeback. Reason Code 03. As a merchant, you face the brunt of chargeback losses. Reason Code; Ref Number ; Auth Code; For a brief overview of chargeback reason codes, refer to the table below. You can check on the status of your dispute by following these steps: Login to your Chime mobile app. Solutions. P08 – Duplicate Charge. The chargeback reason codes below explain why this happened. Blog and Articles; Success Stories; Chargeback Reason Codes; BIN Look-up; eGuides the Reports; Webinars; Knowledgebase; Online; Partners. Despite being the smallest of the four major credit card companies, the list of Discover chargeback reason codes is extensive. They only bill customers during a dispute if there is compelling evidence to show the cardholder’s account is in the wrong. 4808 Authorization-Related Chargeback. Card Brand Code Description Days to Dispute. com 14 Goods / Services Damaged or Defective. without a reason code will be assigned a default code of 1. This list was generated 5/4/2022. 5%. Explanation. 3 Fraud – Card-Present Environment. 3. Chargeback Reason Codes Reason code are the first key to understanding the root causes . Card issuers and card networks deem certain chargeback codes to be nearly indisputable by merchants, and as a result, a merchant can be charged a fee of up to $500 by card networks for submitting a dispute of such chargebacks.