PoS operators demand chargeback policy review, decry rising frauds

Chargeback

PoS operators demand chargeback policy review, decry rising frauds     Point of Sale (POS) merchants operating in Nigeria have called on the Central Bank of Nigeria (CBN) to change its policy towards chargeback claims on transactions, citing increasing fraud cases. According to a statement by the operators in Abuja, the extant CBN policy allows POS cardholders to lodge a chargeback claim within six months of the transaction, while the POS merchants have only 48 hours to defend the claim, otherwise the merchants will be automatically debited by the switch…

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