chargeback

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Also found in: Financial.

chargeback

(ˈtʃɑːdʒˌbæk)
n
(Banking & Finance) the return of funds by a seller to a buyer's debit or credit card account
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
* Xcaliber Solutions - By combining technology and unmatched expertise, Xcaliber fully manages chargebacks to protect businesses against invalid disputes and friendly fraud, with the goal of recovering lost revenue, reducing risk and protecting their bottom line.
29 June 2019 - US-based payments company Visa (NYSE: V) has signed a definitive agreement to acquire Verifi, a specialist in technology solutions that reduce chargebacks, the company said.
The firm said that the new solution would make use of Radar, its tool that prevents fraud and protects against future chargebacks. Chargeback Protection would allow businesses to be automatically reimbursed with the cost of a disputed charge and any associated fees.
Maintaining pricing changes and chargebacks have long been an area where spreadsheets have been utilized outside of the traditional ERP functions such as Accounts Receivable (AR) and Accounts Payable (AP).
* Commitment to transparency: Chargebacks would be processed with full visibility and auditability by all stakeholders.
Now one online business seller is claiming that Amazon allows cheating customers to unfairly get chargebacks.
One option increasingly being used within the IT financial management discipline is the introduction of chargebacks, whereby a price is applied to the IT services that are used by the various business units.
Prior to the mid-90s, credit managers had very little exposure to chargebacks and deductions, except for occasional shortage claims, missing discounts or inadvertent mis-ships.
You must do chargebacks within 120 days of becoming aware of a problem, up to 540 days after a purchase.
With some retailers yet to install EMV equipment and many EMV installations awaiting certification, the study found retailers have been challenged with a higher-than-usual number of chargebacks; one company said chargebacks are so high they have "affected our bottom line." Under liability changes imposed by the card industry last October, merchants are now required to absorb fraud costs through chargebacks when a card is counterfeit and the retailer does not have a certified chip card reader in operation.
However, if they are not able to deal with such situations right then--while they have the customers on the phone--the sales go away, and you have chargebacks.