chargebacks
Disputed transaction reversals
A chargeback is a reversal of a credit card transaction, initiated when a cardholder disputes a charge with their bank rather than seeking a refund directly from the merchant.
Banks may grant chargebacks for unauthorized transactions, undelivered goods, or billing errors.
For merchants, chargebacks represent both lost revenue and penalty fees, making them a significant concern in e-commerce.
The store's high chargeback rate got them flagged by their payment processor.
Formal permission granted
- merchantOne who sells wares
- acquirerOne who obtains possession
- issuerOne who distributes officially
- payment gatewaySoftware routing card transactions
settlement · cardholder · payment processor · network · clearing · card network · Visa · Mastercard
Payment for incurred expenses
- repaymentGiving back what's owed
- creditRecognition or payment deferral
- moneybackReimbursement of purchase price
- compensationPayment for services rendered
restitution · rebate · settlement · recovery · cashback · return · adjustment · credit memo
Non-court binding dispute resolution
- contestationAct of challenging something
- complaintExpression of discontent
- objectionExpression of disapproval
- appealFormal review request
challenge · grievance · protest · dispute resolution · buyer remorse · documentation · rebuttal · time limit
Return to prior condition
Taken payment credential
- identity theftStealing personal data criminally
- account takeoverUnauthorized access to another's profile
- skimmingPassing lightly over
- phishingFraudulent credential harvesting
fraud claim · fraud alert · fraud prevention · verification · suspicious activity
authorization
Formal permission granted
payment gateway · settlement · cardholder · payment processor · network · clearing · card network · Visa · Mastercard · interchange
reimbursement
Payment for incurred expenses
- repaymentGiving back what's owed
- creditRecognition or payment deferral
- moneybackReimbursement of purchase price
compensation · restitution · rebate · settlement · recovery · cashback · return · adjustment · credit memo
arbitration
Non-court binding dispute resolution
- contestationAct of challenging something
- complaintExpression of discontent
- objectionExpression of disapproval
appeal · challenge · grievance · protest · dispute resolution · buyer remorse · documentation · rebuttal · time limit · final ruling
rollback
Return to prior condition
stolen card
Taken payment credential
- identity theftStealing personal data criminally
- account takeoverUnauthorized access to another's profile
- skimmingPassing lightly over
phishing · fraud claim · fraud alert · fraud prevention · verification · suspicious activity
- fraudscam, fraud, swindle, con, deceive
- banking termsaccount number, routing number, balance, FDIC, bank statement
- payment securityfraud detection, fraud prevention, anti-fraud, fraud protection, secure payment
- sales accountinggross sales, net sales, sales tax, accounts receivable, receivables
- business financeaccounting, balance sheet, revenue stream, profit margin, budget
- paymentspayment, monthly payment, cash payment, payment date, credit cards