Term: Chargeback

« Back to Glossary Index

A chargeback is any payment card transaction that is billed back to the merchant after the sale has been completed. A chargeback is initiated by the cardholder’s card issuing bank or financial institution on behalf of the cardholder in disputes about the transaction. Credit Card Association regulations generally require the issuing bank to urge the cardholder to attempt to contact the merchant directly to settle the dispute before a chargeback procedure is initiated. The most common reasons for chargebacks are non-delivery/damage of merchandise, disputes about the quality of the merchandise, and failure of the merchant to issue a timely refund. Chargebacks may also occur in fraud cases.

« Back to Glossary Index
Get the Best Partner for Your Business
Average Rating:
4.8
Total Number of Reviews:
13
 
  • September 12, 2017
    Carlos P.
    good service
  • August 15, 2017
    Russell S.
    Very educational
  • July 11, 2017
    John W.
    So when I get my monthly statement I have been getting it from different people. It needs to come from ESP. It gets missed or goes to junk. John Williams
  • May 1, 2017
    Brannan M.
    Great service
  • May 1, 2017
    Justin S.
    Great customer service! Blake handled everything so professionally and swiftly! Would highly recommend them!!!!
<
>
Full Star Created with Sketch. Half Star Created with Sketch. Empty Star Created with Sketch.