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Chargeback |
Also found in: Wikipedia | 0.06 sec. |
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Chargeback The charge a credit card merchant pays to a customer after the customer successfully disputes an item on his or her credit card statement. Notes: Customers dispute charges to their credit card usually when goods or services are not delivered within the specified time frame, goods received are damaged, or the purchase was not authorized by the credit card holder. |
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| Merchants that choose to participate will benefit from a nearly 70% reduction in chargebacks that stem from disputed (often fraudulent) charges. An automated business-rule capability with algorithm-based problem detection and exception-based reporting can monitor and highlight those exceptions likely to result in late pays, chargebacks or unearned discounts. The chargeback is a fee equal to the amount of the independent dealer's. |
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Chargeback
