In a case when the amount has been debited from your account but is not credited into the account of the relevant merchant as also in case of fraud and when there is denial in keeping with the service promise made by the vendor, you can take the recourse as raise a chargeback complaint with your bank.
So, chargeback in simple words is a redressal mechanism that you can address with your card issuing bank.
How the chargeback request works?
Here in the applicant raising the request need to fill up the chargeback request form and include the details of the transaction for the further transaction, the bank will check with the acquiring bank where the amount got credited. Then herein the role of acquiring bank will come into play who will check for the transaction, as where the transaction got executed actually with the merchant, payment aggregator or some other party. The request will then be followed up with the payment aggregator to find out the merchant.
The chargeback will then be either accepted by the merchant or he will contest it if it is not acceptable to the entity. And for contesting it, the merchant needs to give valid proof that the order has been delivered and if on the other hand, the merchant accepts the chargeback it will be a consent that the said services were not provided.
Herein the payment provider or facilitator will deduct the involved amount from the merchant's and transfer it to the acquiring bank which will later transfer it to the issuing bank and finally the amount will reach back the customer. And further, in case there is provided with no response by the merchant then also similar follow up will be done.
And further if there is still any discrepancy, then the case will be further investigated and whoever found guilty will have to pay for the offence.
Banks as per their specification allow a time anyway between 45-120 days for raising a chargeback request with the card issuing bank.