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Chargeback

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Dictionary Says

Definition of 'Chargeback'

The charge a credit card merchant pays to a customer after the customer successfully disputes an item on his or her credit card statement.
Investopedia Says

Investopedia explains 'Chargeback'

Customers dispute charges to their credit card usually when goods or services are not delivered within the specified time frame, goods received are damaged, or the purchase was not authorized by the credit card holder.

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