Chargebacks: Everything you need to know

Machnet Technologies Inc23 Sep, 2022Finance

When a cardholder sees a transaction on their debit or credit card that they don't think they made or when they believe they were charged the wrong amount, it can lead to what is known as a payment dispute. A chargeback occurs when a user argues that the transaction was authorized by them or asserts that it was fraudulent. The article aims to explain everything there is to know about chargebacks, including their types, processes, chargeback reversals, mitigation strategies, and their significance on the fintech sector.