Explore Tazapay's CDRN Policy: A dispute resolution program for merchants. Learn about the 48-hour resolution window, alert fees, and bank-participation-based coverage, aimed at enhancing dispute management efficiency.
What is CDRN?
- Cardholder Dispute Resolution Network (CDRN): This program enables merchants to manage and resolve higher-value transaction disputes directly with buyers. It offers a structured approach to dispute resolution, aiming to streamline the process and enhance efficiency.
How can merchants enroll in CDRN?
- Opt-In Process: Merchants who wish to participate in the CDRN program can opt-in by contacting their account manager at email@example.com.
What is the process under CDRN?
- Alerts of disputes are sent to enrolled merchants.
48-Hour Resolution Window:
- Merchants have 48 hours to resolve the dispute with the buyer.
Automatic Refund and Charges:
- If unresolved, Tazapay automatically refunds the buyer after 48 hours.
- A fee of $15 is charged for each alert, but resolving disputes through CDRN can prevent chargebacks.
Standard Chargeback Fee:
- In cases of chargebacks, a separate $15 fee is charged per incident, and merchants also lose the full amount of the chargeback.
Coverage Limitations of CDRN
- Involvement of U.S. Banks: The effectiveness of CDRN is enhanced with the participation of U.S. banks. While the program is designed around these banks, it's important to note that the coverage is not universally 100%, as it depends on specific bank involvement in each transaction.
Benefits of CDRN
- For Merchants: CDRN provides merchants with the opportunity to directly resolve disputes, potentially avoiding chargebacks, their associated costs, fines, and the risk of losing the privilege to use the Tazapay payment system.
- For Customers: Ensures a fair and timely dispute resolution process.