I am going through this situation currently. It's a very inefficient process. The worse is the merchant processing company isn't really advocating for you, they are playing a middle man. They retain the funds themselves, I'm would imagine in an interest bearing account.
There can be bad actors on either side of a transaction. That's why it's important for Merchants and consumers alike to understand chargebacks and how to navigate the process in today's e-commerce landscape.
I am going through this situation currently. It's a very inefficient process. The worse is the merchant processing company isn't really advocating for you, they are playing a middle man. They retain the funds themselves, I'm would imagine in an interest bearing account.
There can be bad actors on either side of a transaction. That's why it's important for Merchants and consumers alike to understand chargebacks and how to navigate the process in today's e-commerce landscape.