chargeback
chargeback Lexical Profile
chargeback Game Scores & Validity
• noun
A forced reversal of a credit or debit card transaction initiated by the cardholder's bank, returning funds to the consumer after a disputed or fraudulent charge.
"The customer filed a chargeback with her credit card company after the online retailer failed to deliver the merchandise."
An internal accounting practice in which the cost of shared corporate resources, such as information technology or administrative services, is billed back to the specific department that used them.
"The finance director implemented an internal chargeback system so each business unit would be accountable for its own cloud computing expenses."
Word Nuance & Usage
Unlike a standard refund issued voluntarily by a merchant, a chargeback is initiated directly through the cardholder's bank to forcibly reverse a disputed or fraudulent transaction.