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

  • FCRA (Fair Credit Reporting Act)

    The Fair Credit Reporting Act protects consumers from inaccurate information that may be found within credit reports.

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  • ODFI (Originating Depository Financial Institution)

    Financial institutions that originate ACH transactions on behalf of its customers. ODFI's must abide by the National Automated Clearing House Association (NACHA) Operating Rules.

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