| Term | Definition |
|---|---|
| Chargeback |
A chargeback is a process through which an issuing bank debits funds from a merchant's account in order to return them to the cardholder. Chargebacks typically occur when the cardholder has claimed that the charge was unauthorized or that the merchant failed to deliver the product or service that was purchased. Merchants can fight chargebacks using evidence that the reason for the dispute is false or invalid. Read more >>> |
