Payment Glossary

Chargeback (Card Processing)

A chargeback is a transaction that is returned by the card issuer to a merchant’s acquirer bank because of a dispute, processing or point-of-sale error, or fraudulent transaction.

Related Terms

  • Acquirer

    An acquirer is a bank that processes credit and debit card transactions for a merchant.

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  • DFA (Dodd-Frank Act)

    The Dodd-Frank Act was made effective in 2010 to promote financial stability in the U.S. by increasing accountability and transparency.

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