White Paper: Chargebacks explained

As the name suggests, a chargeback is a literal charging back of the fees that a merchant was paid from the card holder for a product or service provided. This is usually initiated by the credit card provider. The cardholder’s issuing bank places a demand on the merchant’s acquiring bank to recoup either part of, or more often, the entirety of the transaction, on behalf of their card holder. The acquirer is obliged to transfer these funds from the merchant’s account so that the cardholder may be compensated. When a cardholder places a transaction on their credit or debit card, they are entitled to certain protections.

 Download the white paper.

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