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A chargeback is when a cardholder asks their bank to reverse a charge. This can happen for several reasons, including fraud, duplicate charges, products not received or returns not processed.
When a chargeback is initiated, a dispute process is opened involving the issuer, the card brand and the merchant. If the customer’s claim is accepted, the charge is reversed.
To minimise the impact of chargebacks on a business, it is essential to have the right strategies and tools in place. There is more information on chargebacks and how to manage them efficiently in our glossary.
