Chargeback

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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.
References in periodicals archive ?
8 report on chargebacks, "Facing Charges," generated numerous letters from vendors who conveyed much apprehension toward their retail partners.
I-many CARS provides core functionality common to all commercial contracting operations and can be extended to include processing capabilities for utilization rebates, purchase rebates, chargebacks, automated conditions, membership management and collaborative viewing.
Retail abuses of the chargeback process, as chronicled in HFN's blockbuster special report earlier this month, are a huge problem.
Let's be very clear on what type of chargebacks we are talking about.
The tangible results delivered by Chargebacks911's technology, coupled with its unparalleled customer service, secured the online vote of customers who once again selected the company as their favored choice for chargeback management.
All participants including Ethocas network of more than 545 card issuers get more value by reducing fraud losses and eliminating more chargebacks.
No one likes giving a refund, but if the choice is a refund or a chargeback, the smart option is usually to just issue the refund and avoid fees associated with chargebacks and risk having your processing rates penalized.
By the time that returns, administrative costs, loss of future business with customers, and other costs are accounted for, the cost of chargebacks is a multiple of the original amounts of sales.
Singh, further added , "Now Botmetric can help users manage the complexities involved in treating chargebacks when having a central payer account and multiple linked accounts.
8 June 2016 - US-based chargeback mitigation technology developer Midigator LLC has acquired US-based chargeback prevention technology reseller B4 Enterprises Inc.
But increasingly, cardholders are requesting chargebacks for things that can no longer be returned or that they simply don't want anymore.
Chargebacks for services are more common than chargebacks for physical goods, for which there are shipping records, says attorney Gregory T.