noun a demand by a credit-card provider for a retailer to make good the loss on a fraudulent or disputed transaction
In finance, a chargeback refers to the reversal of a credit card transaction by the card issuer, often due to a dispute or fraudulent activity.
In customer service, handling chargebacks requires thorough investigation and communication with customers to resolve disputes effectively.
In banking, chargebacks are a mechanism for protecting consumers from unauthorized transactions and fraud.
In retail, chargebacks can result in lost revenue for merchants and can be a source of frustration due to the associated fees and penalties.
In e-commerce, chargebacks are common when customers dispute a charge with their credit card company instead of resolving the issue with the merchant.
In the context of a chargeback, a writer may be tasked with creating content that explains the process of disputing a charge with a financial institution.
A psychologist may be consulted in cases of chargebacks to provide expert testimony on the mental health impact of financial disputes on individuals.
An accountant may be responsible for tracking chargebacks and reconciling them in the company's financial records.
A customer service representative may handle chargeback requests from customers and assist them in resolving disputes with merchants.
Legal counsel may be involved in chargeback cases to provide guidance on the legal implications of disputing charges and to represent clients in legal proceedings related to chargebacks.