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

  • Auxiliary On-Us Field

    A field on the magnetic ink character recognition (MICR) line of a check or share draft. This is an optional field that can be found to the...

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  • POS (Point-of-Sale)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a...

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