Larkswood12 no, not in the industry but come across it a lot.
Best ‘high street’ info source in the UK on this kind of stuff is moneysavingexpert.
Yeah s.75 or chargeback you have to claim to card issuer, eg bank, and/or card network quite quickly. Merchant then has x weeks to respond. Card then decides final outcome. Obvs if merchant is still around better, on a chargeback. If s.75 (UK only) then even if merchant not around then cardco has to cover as UK law makes credit card jointly liable with merchant. ‘Jointly’ liable here means each up to 100%, not 50%.
The EU chargeback link I provided Tory was by far the most comprehensive. The further you went the better it got. There was almost a hint that the EU rules put a bit of UK-type protection into chargeback. Will France follow? Will CA? That’s why I said read it carefully, do a precise claim, and push CA to push it through to MC. Plus push it directly to MC as well (as the French EU text actually advised).
As I understand it merchants are paid by card networks within x days of a purchase. (eg I gather Amex takes longer than MC / VS which is one of the reasons Amex is less liked by merchants)
Obviously there’ll be adjustments on later payments to merchants for chargebacks or whatever. But no one’s going to be pleased if merchant is no longer around. In the UK on a debit card, in that case I’d suspect your chargeback claim would be toast. But the EU chargeback text read more and more towards the end that it might not be always like that under EU rules for chargeback and possibly not if debit card was used. So worth reading the fine text and submitting chargeback request accordingly
And then the card networks have contracts with card issuers (eg banks or fintechs or airlines) who issue cards in their network eg the 5 or so varieties of CA Mastercard or the Air France Amex.
That was why it was interesting that when you read the EU link I gave for chargeback, it read as though there just might be more indulgence on chargeback / debit card, than in the UK where you really want to be able to call on s.75 / credit card instead.