Long story short, I sold something through Bidorbuy, the payment was done by the buyer using credit card and the payment was reversed after 1 month due to chargeback.
I am now responsible to pay back all the money received and I have already delivered the goods to the buyer.
The reason for the chargeback was because the original card holders details have been compromised and the transaction was done.
So is this case, no one takes responsibility, not the card holder, the bank or bidorbuy, only the seller.
The credit card was issued by FNB. Besides the stock and money I have lost, I still have to pay 5% credit card commission to FNB!! So FNB can still make money from this whole without taking any responsibility
I have no choose but to accept the fact that I have ticked the box and accepted the "Terms and Conditions" of accepting credit card payments and take full responsibility in case of reversal. Well done bidorbuy, you are fully protected and I will pay you back the money soon.
I am writing this report just to inform others about it.
Thank you
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