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Chart illustrating chargeback dispute time limits

Chargeback

How is the chargeback dispute period calculated?

The chargeback dispute period varies by reason, but it can never exceed 540 days from the date a transaction posted to the card. Within that limit, cardholders generally have up to 120 days to dispute, depending on the type of issue.

Visa Merchant Purchase Inquiry (VMPI) process diagram

Fraud

What is Visa Merchant Purchase Inquiry (VMPI)?

Chargeback is the process of refunding a credit card payment when the goods or services that should have been received were not, or when transactions not made by the cardholder are identified. In Turkish it is translated as reversal of presentment.

Illustration showing the reasons a bank may terminate a merchant agreement

Merchant & POS

Under What Circumstances Is a Merchant Agreement Terminated?

Banks check merchants against a termination list before issuing a POS device. Learn the main reasons, such as counterfeit card acceptance, excessive chargebacks, and fraud, that can lead a bank to terminate a merchant agreement.

Mastercard SAFE fraud reporting illustration

Credit Card

What Is SAFE (System to Avoid Fraud Effectively)?

SAFE, short for System to Avoid Fraud Effectively, refers to fraud records created by issuing banks. Fraud records sent in the Mastercard clearing format fall under the SAFE category.

Diagram illustrating the card payment arbitration process

Chargeback

What is Arbitration?

Arbitration, by definition, is a dispute resolution method in which disputes are settled by arbitrators the parties choose themselves, rather than by official courts. In payment systems, it follows a chargeback when the issuer and acquirer cannot agree.

Diagram illustrating the appeal stage of the card dispute and chargeback process between issuer, acquirer and card scheme

Payment Systems

What Is an Appeal? What Does It Mean in Payment Systems?

In payment systems, an “appeal” is the process of objecting to the outcome of a transaction dispute. It is usually discussed alongside chargebacks, but it plays a critical role in interbank dispute resolution, when a party asks the card scheme to re-evaluate a concluded decision.

Diagram of the committees within the BKM system

Payment System Institutions

What are the committees in the BKM system?

BKM (Interbank Card Center) works through several committees: Security, Operations and Technology, Market Development, Business Development, Chargeback Rules and Arbitration, ATM Sharing, plus arbitration committees. This post outlines each one's duties.

Diagram illustrating the retrieval request process in card transactions

Chargeback

What is a Retrieval Request?

A chargeback is when cardholders dispute a transaction made without their knowledge through their card-issuing bank. So what does a Retrieval Request mean? It is essentially a document request related to transactions a cardholder does not recognize on their statement.