In message , at 14:05:50 on Tue, 28 Feb
2012, Stephen Sprunk remarked:
The dispute and chargeback procedures involving the issuing
bank, the card network, the card processor and the merchant are all
identical regardless of what class of payment card is used.

You just made something up. I'm still calling it a refund, and not a
chargeback, to distinguish between the merchant receiving payment in
advance of when the cardholder pays his bill, and the merchant receiving
money from the cardholder's bank account.

The merchant _never_ receives money from the cardholder's bank account.

I certainly feels like that, when you use a debit card.

When a purchase is posted, the card processor credits the merchant's
account and debits the network's account, the network credits the card
processor's account and debits the issuing bank's account, and the
issuing bank credits the network's account and debits the customer's
account. NO ACTUAL MONEY CHANGES HANDS at that time.

No folding banknotes (because it's all electronic), but why do you say
those credits and debits above are not "money"?
--
Roland Perry