evelmunkey
In Runtime
- Messages
- 319
It is the company that took the payment that ulitimately has to pay. I work for a large insurance company and have to deal with unauthorized payments from time to time. This is how we deal with it.
The card holder usually calls us to inform that our company charged their card but they are not affiliated with us. We have the customer dispute this as an unauthorized charge their credit card company. The credit card company turns around and disputes this charge with us. We refund the money and the credit card company credits the card. We attempt to find the unautorized user, which is easier for an insurace company as all payments are connected to an insurance policy. Since we have a policy for the unauthorized payment, we remove the funds from that policy number and bill that person. A retail establishment would take it as a loss as they cant really track down the unauthorized users. However, most major retailers now have a "blacklist" of disputed cards. When someone attempts to use a card that has previously been used in a dispute it would be declined (further proof that the company is the one that pays).
The card holder usually calls us to inform that our company charged their card but they are not affiliated with us. We have the customer dispute this as an unauthorized charge their credit card company. The credit card company turns around and disputes this charge with us. We refund the money and the credit card company credits the card. We attempt to find the unautorized user, which is easier for an insurace company as all payments are connected to an insurance policy. Since we have a policy for the unauthorized payment, we remove the funds from that policy number and bill that person. A retail establishment would take it as a loss as they cant really track down the unauthorized users. However, most major retailers now have a "blacklist" of disputed cards. When someone attempts to use a card that has previously been used in a dispute it would be declined (further proof that the company is the one that pays).