PAYMENT GLOSSARY

Chargeback

Occurs when a cardholder disputes a transaction with the card issuer. The issuer initiates a retrieval request against you and the disputed amount is withdrawn from your account until the matter is settled. You are given 10 days to dispute the chargeback with proof of purchase or delivery. The merchant account provider imposes a chargeback fee as part of the process.

Discover more payments terms

View all terms
SWIPESUM.CONSULTING

We help businesses make intelligent payment decisions.

Learn more about Swipesum
audit

Start with a free audit of your payments processing statements

Schedule an audit
consultation

Connect with a payments expert and get a free initial consultation

Book consultation