At Mercantive, we aim to maintain a straightforward and fair experience for both sellers and buyers. Below is key information about how refunds and chargebacks are managed on our platform.
Refunds
Sellers are responsible for issuing refunds to buyers directly through the Mercantive platform. Buyers may request a refund from the seller based on the seller’s refund policy or applicable circumstances.
When a refund is processed, the amount (minus any fees charged by the payment processor) will be returned to the buyer via Stripe, which handles payouts directly to sellers. Please note that transactions are charged and refunded in USD. Due to exchange rate fluctuations, the amount a customer receives back in their local currency might differ from what they originally paid.
Chargebacks
A chargeback happens when a customer disputes a transaction with their bank or credit card provider and requests a reversal of the charge. This process is initiated by the customer and must be adhered to under payment processing regulations, regardless of the seller’s stance on the dispute.
Common reasons for chargebacks:
Fraudulent transactions: The customer claims the purchase was unauthorized.
Product not received: The customer states they did not receive the purchased item.
Product not as described: The customer feels the product differs from its description.
Duplicate charges: The customer reports being charged multiple times for one transaction.
How chargebacks are handled
Sellers are responsible for addressing chargebacks. If a chargeback occurs, the seller must issue a full refund to the customer. The refunded amount (minus any fees charged by the payment processor) along with any dispute fees from the payment processor will be managed through Stripe, which processes payouts directly to sellers.
Sellers should keep an eye on their chargeback rate. A high volume of chargebacks may trigger an account review, and we reserve the right to suspend accounts if deemed necessary.
Minimizing Chargebacks
Chargebacks can affect your business, so taking steps to prevent them is key. Here are some tips to lower the risk:
Provide clear product descriptions: Make sure your listings are accurate and detailed to avoid misunderstandings about what the customer will receive.
Stay communicative: Respond to customer inquiries quickly and clearly to resolve issues before they escalate. Ensure your contact details are easy to access.
Ship promptly: Deliver products or services on time to prevent disputes over non-delivery.
Offer great support: Excellent customer service can stop issues from turning into chargebacks. Address concerns swiftly and consider refunds or exchanges when reasonable.
Track everything: Keep detailed records of transactions, customer communications, and delivery proof. These can help you challenge a chargeback if needed.