What is chargeback? When does it happen?
Updated time: Mar 21, 2018 , 12:54 (UTC+08:00)
Chargeback is a form of protection to the cardholder by the issuing bank which return funds to the cardholder when disputes happen.
There are numbers of reasons for a customers to claim chargeback:
- Fraud: cardholder doesn’t recognize the transaction, etc.
- Clerical: Duplicate billing, incorrect amount billed, etc.
- Products/Services: item not receive (INR), significantly not as described (SNAD), etc.
- Technical: Expired authorization, non-sufficient funds
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