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Chargeback
(redirected from chargebacks)

    Also found in: Wikipedia 0.01 sec.
Chargeback
A refund made by a credit card company to a credit card holder. Chargebacks occur when a card holder disputes an item on one's credit card statement, usually because he/she claims that he/she never authorized the charge. For example, if a person is a victim of identity theft because someone stole and used his/her credit card, that person may receive a chargeback on all unauthorized transactions. Other reasons for receiving a chargeback include receiving goods late or damaged, or not receiving them at all.
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Chargebacks are a major concern for small business owners, especially while processing payments online.
How to Fight Back Against Fraud-Related Chargebacks by Ryan J Bell / Finance and Investment community
Having many chargebacks puts merchant services at risk because they are held responsible for the funds that are being charged back.
Taking a Closer Look at Fees Associated with Merchant Accounts by WorldwideHealth.com / Banking, finance and accounting community
Fraudulent chargebacks are one of two types: true fraud, which typically occurs when a credit card or other payment method has been compromised and friendly fraud, which occurs when the legitimate cardholder decides to refute the transaction.
Optimizing fraud: Yes, there is a silver lining by Gene Hoffman, chairman and CEO, Vindicia / SC Magazine
 
 
 
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