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charge back

A reversal of a credit card transaction, typically initiated by the card issuer at the cardholder's request. Charge backs can occur for any number of reasons, including customer disputes, potential or actual fraud (on the part of merchant, sales associate and/or customer), processing errors, and authorization issues. Merchants are typically assed fees for charge backs by the bank.

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  • Part of Speech: noun
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  • Industry/Domain: Retail
  • Category: Others
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