Chargebacks

What are chargebacks?

For a credit card transaction, a chargeback is a dispute of the charge by the cardholder. Withdrawal by the credit card issuer of the amount credited to the merchant’s account (plus a chargeback fee) when a card-holder disputes a transaction charged on his or her card. The merchant usually has a number of days to submit proof of purchase and proof of delivery to reclaim the charged back amount.