Chargeback

A chargeback is a credit card authorization that is reversed or disputed by the issuing bank or the cardholder, to the acquiring bank.

A chargeback is most commonly initiated by a customer when they contact the issuing bank of their credit card to dispute a charge that has been placed on their account. Customers commonly dispute transactions because they do not recognize a charge on their credit card statement, or they were not satisfied with the goods or services that they received.