CMCGlossary: Chargeback ✨ A chargeback is the return of money to the payer of a certain transaction, most commonly one that was made with a credit or debit card. 👉 Details:
Chargebacks are primarily a means of consumer protection; most often, they are initiated by consumers after fraudulent or erroneous charges, for example when they used their credit card to pay for a certain product but it was never delivered to them.
The chargeback does not occur automatically nor instantaneously — the consumer must first successfully dispute the original charge and the final settlement can take up to several days.
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