A card chargeback is a dispute by the cardholder of a card transaction to his/her bank, leading to the cancellation of the original transaction and the re-credit of the cardholder.
A card chargeback can have several reasons, the most common being: fraudulent transaction, transaction not recognized, services not provided or merchandise not received, duplicate payment.
A card transaction can be charged back up to 13 months following the date of the original transaction.
A card chargeback has two main effects:
• For the cardholder - total or partial re-credit of the original transaction amount
• For you - debit of the chargeback amount as well as chargeback associated chargeback fees on your Lemon Way for E-commerce account
For some additional insights on card chargebacks, just take a look at the dedicated Lemon Way blog entry, here