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What is a chargeback?
A chargeback is when a cardholder denies having made a credit card payment and cancels it. The card issuer (issuer) can then demand all or some of the amount back. In such a case, the issuing bank appeals to the acquirer and claims the transaction amount back from the merchant account. It also verifies the legitimacy of the chargeback. In this process, the burden of proof is on the merchant. In addition, the merchant is usually required to pay the fees resulting from the chargeback. Due to the cost and effort associated with this process, online merchants should always keep track of the chargeback rate.
The chargeback process
The customer sees that an amount has been debited from their credit card and queries it, because they did not authorize the charge. The issuing bank that, with the acquirer, previously triggered the payment to the merchant claims the amount back and examines the case together with the merchant and the customer.