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

  • NACHA (National Automated Clearing House Association – The Electronic Payments Association)

    The national trade association responsible for developing and enforcing ACH rules and guidelines.

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  • WEB (Internet Initiated Entries)

    A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

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