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

  • Issuer

    An issuer is the organization that issues a credit or debit card.

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  • RDFI (Receiving Depository Financial Institutions)

    A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.

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