At Mercantive, we strive to create a fair and transparent process for both sellers and buyers. Below, you’ll find important information about how refunds and chargebacks are handled on our platform.
Refunds
Sellers have the ability to issue refunds to buyers directly through the Mercantive platform. However, Mercantive also reserves the right to process refunds at our discretion within 60 days after a purchase.
When a refund is issued, the refunded amount (minus all applicable fees) will be deducted from your next payout. It’s important to note that we charge and refund customers in USD. Due to fluctuations in exchange rates, the amount the customer receives back in their local currency may differ from the amount they initially paid.
Chargebacks
What is a chargeback? A chargeback occurs when a customer disputes a charge with their bank or credit card company and requests that the transaction be reversed. This process is initiated by the customer, and while we or the seller may not agree with the dispute, it is a mandatory process that must be followed according to the payment processing rules.
Common reasons for chargebacks:
Fraudulent transactions: The customer claims they did not authorize the purchase.
Product not received: The customer claims they never received the product they purchased.
Product not as described: The customer believes the product they received does not match the description provided at the time of purchase.
Duplicate charges: The customer claims they were charged more than once for the same transaction.
How we handle chargebacks
When a chargeback occurs, Mercantive will offer a full refund to the customer on the seller's behalf. The refunded amount (minus all applicable fees) plus a $15 dispute fee will be deducted from your next payout.
It’s important to monitor your chargeback rate closely. If your account experiences a high number of chargebacks, it may be subject to review, and we reserve the right to suspend your account if necessary.
Minimizing chargebacks
Chargebacks can impact your business, so it’s important to take proactive steps to minimize them. Here are some strategies to help reduce the risk of chargebacks:
Provide clear product descriptions: Ensure that your product descriptions are accurate, detailed, and reflect what the customer will receive. Misleading or vague descriptions can lead to customer dissatisfaction and chargebacks.
Maintain open communication: Prompt and clear communication with customers can resolve issues before they escalate to chargebacks. Ensure that your contact information is easy to find and that you respond to inquiries quickly.
Deliver products promptly: Timely delivery of products or services is crucial. Ensure that customers receive what they paid for within the expected timeframe to avoid disputes over non-receipt.
Offer excellent customer service: Providing top-notch customer service can help prevent chargebacks. Addressing customer concerns promptly and offering refunds or exchanges when appropriate can resolve issues without the need for a chargeback.
Keep accurate records: Maintain thorough records of all transactions, including communication with customers and proof of delivery. This documentation can be vital in disputing a chargeback if one occurs.