Basics - What are chargebacks?

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What are chargebacks?

Total Answers and Comments: 3

Last Update: March 20, 2008

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Submitted by: sdsmt

Chargebacks: A new debit item which we assign to a customer while closing a existing, outstanding debit item is known as 'Chargebacks'.

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dswan6

October 04, 2005 11:06:29

Archana

RE: What are chargebacks

The process of taking back or debiting the merchant's credit card funds after the funds have been paid to the merchant. This occurs when a customer disputes a credit card transaction. The merchant must respond to the charge back and provide proof that the product or service was provided to the customer.

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October 07, 2005 05:41:07

Gopichand

RE: What are chargebacks

Chargeback refers to closing the original Transaction that has become overdue and raising a new transaction in its place.

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March 20, 2008 15:53:55

sdsmt

Member Since: February 2008 Contribution: 4

RE: What are chargebacks?

Chargebacks: A new debit item which we assign to a customer while closing a existing outstanding debit item is known as 'Chargebacks'.

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