Definition of Reversal
- A Reversal is the drawback that Merchant provides a buyer / payer for the value of a purchase processed through Merchant Platform.
- Payment Gateway will apply Reversals upon Merchant request. An exception to this rule applies when the payment instrument’s issuer requests a Reversal, based on a claim from a payer, backed by the applicable legislation and as long as said issuer provides the technology required for this process.
A Reversal will apply in the following events:
- When the buyer / payer has been the object of fraud.
- When Merchant suspects payer identity theft, in which case the Merchant must authorize Reversal.
- When the buyer / payer has not requested the purchase.
- When the value of a purchase is charged and discounted from the buyer more than once.
- When the buyer has revoked his / her authorization to charge for periodic payments from his / her cards or bank accounts before the payment instrument’s issuer and the Merchant and said charges have continued after the date of reversal.
- Upon Merchant request when the buyer / payer has made a mistake when selecting the product.
- Upon Merchant request, when the buyer / payer exercises his / her right of first refusal before the Merchant.
- When the Merchant has cancelled the sale in lieu of product stock.
- Upon Merchant request when the product has not been received promptly by the buyer / payer.
- Upon Merchant request when the product delivered by the Merchant does not correspond to that requested by the buyer / payer.
- Upon Merchant request when the product is delivered by the Merchant to the buyer / payer in bad condition, bad quality or defective.
- Upon Merchant request when the product does not meet the manufacturer’s specifications or those described in the information provided around the product, or when it does not meet the needs for which it was produced or sold.
- The Merchant or the payment instrument’s issuer will notify PSP of said request so that PSP may proceed to reverse payment.
Procedure for the request of Reversals
A request for Reversal from Merchant must include:
- Transaction number.
- Transaction date.
- Transaction value.
- Reversal amount requested.
- An express statement of the reason or reasons that are grounds for the payment Reversal request; they must correspond to one or some of those mentioned in “Reversal Applicability” of this Policy.
Exemption from liability
The Merchant is held liable for its own Reversal order or authorization.