Transaction reversal, dispute, and charges are processes related to resolving issues with unauthorized, incorrect, or faulty transactions. A transaction reversal involves canceling or refunding a payment due to errors or disputes, often initiated by the customer or merchant. Dispute charges occur when a cardholder challenges a transaction they believe is fraudulent, unauthorized, or incorrect, prompting the bank or payment processor to investigate and potentially reverse the charge. These processes help protect consumers from fraud and errors, ensuring that funds are correctly allocated and unauthorized transactions are rectified. Quick resolution of such disputes maintains trust and security in financial transactions.
Transaction reversal, dispute, and charges are processes related to resolving issues with unauthorized, incorrect, or faulty transactions. A transaction reversal involves canceling or refunding a payment due to errors or disputes, often initiated by the customer or merchant. Dispute charges occur when a cardholder challenges a transaction they believe is fraudulent, unauthorized, or incorrect, prompting the bank or payment processor to investigate and potentially reverse the charge. These processes help protect consumers from fraud and errors, ensuring that funds are correctly allocated and unauthorized transactions are rectified. Quick resolution of such disputes maintains trust and security in financial transactions.
