Charge Back Analyst

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Charge Back Analyst Interview Questions and Answers

Updated 21 Nov 2024

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Q1. How the chargeback works and lifecycle of chargeback process

Ans.

Chargeback is a process where a cardholder disputes a transaction and the funds are returned to them.

  • Cardholder disputes a transaction with their bank

  • Bank contacts merchant's bank to initiate chargeback

  • Merchant's bank investigates and responds with evidence

  • If evidence is insufficient, funds are returned to cardholder

  • If evidence is sufficient, chargeback is denied

Q2. What is card network and tell me few card network

Ans.

A card network is a system that facilitates the transfer of funds between financial institutions and merchants.

  • Card networks act as intermediaries between merchants, cardholders, and issuing banks.

  • They set rules and standards for transactions and ensure security and fraud prevention.

  • Examples of card networks include Visa, Mastercard, American Express, and Discover.

Q3. How to prevent chargeback

Ans.

Preventing chargebacks requires a multi-faceted approach.

  • Ensure clear communication with customers regarding billing and refunds

  • Use fraud detection tools to identify and prevent fraudulent transactions

  • Provide excellent customer service to address any issues before they escalate to chargebacks

  • Implement a chargeback management system to track and respond to chargebacks

  • Regularly review and update policies and procedures to stay current with industry standards

Q4. What is chargeback process

Ans.

Chargeback process is a dispute resolution process initiated by a cardholder's bank to recover funds from a merchant.

  • Chargeback is initiated by the cardholder's bank

  • It is a dispute resolution process

  • It is used to recover funds from a merchant

  • Chargeback can be initiated for various reasons such as fraud, goods not received, etc.

  • The merchant has a chance to dispute the chargeback

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Q5. Different between fraudulent and non fraudulent activities

Ans.

Fraudulent activities involve intentional deception for personal gain, while non-fraudulent activities are legitimate transactions.

  • Fraudulent activities involve intentional deception or misrepresentation

  • Non-fraudulent activities are legitimate transactions

  • Fraudulent activities often involve stolen credit card information or identity theft

  • Non-fraudulent activities can include regular purchases made by the cardholder

  • Fraudulent activities may result in chargebacks and financial ...read more

Charge Back Analyst Jobs

Hiring For Fraud/Chargeback Analyst (Cards) - Immediate Joiner 1-6 years
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Chargeback Analyst 3-5 years
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Manpowergroup Services India
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