Chargeback is the return of funds to a consumer, forcibly initiated by the issuing bank of the instrument used by a consumer to settle a debt. Specifically, it is the reversal of a prior outbound transfer of funds from a consumer’s bank account, line of credit, or credit card. Chargebacks also occur in the distribution industry. This type of chargeback occurs when the supplier sells a product at a higher price to the distributor than the price they have set with the end user.
The Richtopian Vision
Join Our Newsletter
- 3,088,101 all-time readers
- 11 Amazing Examples of Disruptive Technology
- What Is Social Marketing? And How Does It Work?
- 17 Great Examples of Effective Leadership and Strategy
- Workplace Culture: How to Encourage Collaboration
- Analytical Thinking: 8 Natural Talents Leading to Action
- 3 Reasons You Should Buy Gold (And 3 Reasons You Shouldn't)
- 43 of Britain's Oldest Brands, From Rolls-Royce to Burberry, Still Around Since 100+ Years Ago
- What Do the Super-Rich Spend Their Money On? (Infographic Included)
- 7 Wealth Habits of the World’s Richest People