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Chargebacks

Chargebacks are the primary tool banks use to resolve credit card payment disputes. Chargebacks are designed to protect consumers from merchant errors, merchant and criminal fraud. When a consumer did not authorize a charge, or is unhappy with a product or service, they can challenge the charge with their bank aka chargeback. If the bank feels the consumer’s claim is valid, they will initiate a chargeback in order to reverse the payment.