I read the word on this forum. what does that mean?
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From Wikipedia: "A ********** occurs when a merchant is required to issue credit to a cardholder's account. The merchant is billed by its acquiring bank, which has been billed initially by the card issuer. This may happen for a number of reasons, but most often a ********** is triggered by a cardholder disputing a transaction, in-whole or in-part."Comment -
From Dikktionary.com
Main Entry: chargeback1
Part of Speech: n
Definition: a sum of money deducted by a credit card company from a merchant to cover losses for disallowed or fraudulent transactions
See: JJGold
Example: The ********** makes up for the cost of returned items or incorrect orders that the customer claims were made to his or her credit card.Comment