12/1/2023 0 Comments Chargeback meaningIn these examples, the merchant is responsible for issuing credit to its customer and would be subject to a chargeback. After the adoption of EMV (cards with a chip in them), merchants who have not upgraded to EMV technology usually become liable for chargebacks received (unless others in the payment chain have also not upgraded) even in cases where prior to EMV adoption the merchant would not have been liable.Ĭhargebacks can result from not receiving credit for returned merchandise, not receiving items they have paid for, or if the items were not what they expected. In cases of card not present transactions the merchant is usually responsible for the chargeback and associated fees. Fraudulent card transactions often originate with criminals who gain access to secure payment card data and set up schemes to exploit the data. In some cases, a merchant is responsible for charges fraudulently imposed on a customer. In this case, a credit card is used without the consent or proper authorization of the card holder. One of the most common reasons for a chargeback is a fraudulent transaction.
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