1. A reversal of a credit card or debit card transaction initiated by the cardholder's bank, typically due to fraud, unauthorized use, or a merchant dispute.
Usage: common in finance and banking contexts; often used in e-commerce and payment processing

Examples

• The customer filed a chargeback after discovering unauthorized charges on her credit card.
• The merchant lost the dispute and had to refund the customer through a chargeback.
• High chargeback rates can damage a business's reputation with payment processors.
• He initiated a chargeback when the online store failed to deliver the ordered item.
• Banks investigate chargebacks to determine whether the cardholder or merchant is at fault.
• The company implemented fraud detection systems to reduce chargebacks.
• A chargeback typically takes 30 to 90 days to process.