charge back

Quick Reference

A financial transaction associated with credit card processing. It involves a customer's credit card account being credited rather than debited. Normally this happens when a problem with a particular physical transaction occurs, such as when a product that has been purchased by credit card is returned to the vendor because it is defective. Charge back transactions have been one of the main targets of intruders into ecommerce systems; a typical crime would involve a perpetrator issuing a number of illegal charge backs to his or her credit card and then using the funds built up to purchase goods.

Subjects: Computing.

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