Home Fraud Schemes Types of Malware Do's and Don't's If You're a Victim Articles FAQ's Protect Yourself Security Software Online Resources Glossary Get involved Contact us



Online Security » Protect Your Business » Protect Your Business from Chargebacks

As the number of fraudulent transactions is rising at significant rates, businesses, especially those taking place via the Internet are on the risk of having to pay expensive chargebacks. This is due to the fact that in online sales (and also in phone or mail order sales), one cannot see the credit card, or if the person using it is indeed the cardholder. This disadvantage often leads to fraud.

What is in fact a chargeback?

Chargebacks name the reversal of a sales transaction, that is the credit card charges are reversed. It takes place between two parties: the issuer of the credit card and the merchant's bank (the acquirer). In the chargeback process there is no direct relationship between the cardholder (for the issuer) and the merchant (for the acquirer). After a charge is disputed and adjudicated in the cardholder's favor, the transaction total and chargeback fee are deducted from the merchant's account.
The term it is also known as "Debit Memo".

 


 
 

Home :: Internet Fraud Schemes :: Do's and Don't's :: What To Do if You're a Victim :: Articles
Frequently Asked Questions :: Protect Yourself :: Freeware Security Software :: Online Resources :: Glossary :: Get Involved

© 2004 - 2017, Security4Web, Inc.         Disclaimer | Privacy Policy
a service offered by Web4Future.com.