Chargebacks
Chargebacks occur when a customer initiates a dispute with their card-issuing bank. As a result, previously deposited funds are withdrawn from the merchant's bank account and returned to the customer's account.
Within a specific period, the merchant may dispute a chargeback with the card-issuing bank if they can prove the chargeback is invalid.
Status and their meaning:
Processed | This means there was some movement in the chargeback system. For example, the Chargeback Center has received new documents. The description in the case will provide clarity. |
Won | This means the chargeback case is in favor of the merchant based on the description. |
Lost | This means the chargeback case is in favor of the customer. Usually, money will be debited from the merchant account |