Chargebacks Explained in Plain English - This is Payments - video Dailymotion

Chargebacks Explained in Plain English - This is Payments #shorts #payments #legalservices

Transcript

00:00In payment processing, we have chargebacks.

00:03Chargebacks are disputed transactions.

00:05A cardholder generally can dispute a transaction any time

00:08that they want.

00:09Interesting thing about the card associations

00:11such as Visa and MasterCard, they're

00:13both the issuer of the credit card,

00:15and they're also sort of the acquirer oversight.

00:19So they handle both aspects.

00:21But the issuer has customers called cardholders,

00:25and the acquiring side has customers called merchants.

00:28And sometimes their rights and desires and goals

00:32are opposed to one another.

00:33In the area of chargebacks, this always occurs

00:36because a cardholder is disputing whether or not

00:38they got the goods, whether or not the goods were conforming.