| Term | Definition |
|---|---|
| Payment Dispute |
A payment dispute occurs when a cardholder contacts their bank to dispute a charge on their account. The cardholder may not recognize the charge and therefore beleive it to be fraudulent, or may have had an issue with their purchase that they were unable to resolve with the merchant. If the issuing bank determines that the dispute meets certain requirements, they will initiate a chargeback on the cardholder's behalf. Read more >>> |
