What are chargebacks and how do they work?
Chargebacks are a consumer protection mechanism that allows customers to dispute a transaction and request a refund from their bank.
Why would someone initiate a chargeback?
Common reasons include unauthorized transactions, receiving defective goods, or not receiving the purchased item.
How does a chargeback affect a merchant?
Chargebacks can lead to financial losses for merchants, increased fees, and potential damage to their reputation.
What can merchants do to prevent chargebacks?
Merchants can improve customer service, provide clear product descriptions, and maintain good communication with customers.
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