Payments & Banking

Payment Dispute

A cardholder's formal challenge to a charge, which can lead to a chargeback.

A dispute is raised when a member contacts their bank to question or reject a charge — for example because they didn't recognize it or believe it was wrong. If upheld, it becomes a chargeback and the funds are reversed. Transparent, itemized billing and receipts are the best defense against disputes.

Related terms

Chargeback

A forced reversal of a card payment initiated by the cardholder's bank, usually after a dispute.

Refund

Returning a payment to the member who made it, in full or in part.

Payment Processing Fee

The charge a payment processor takes to handle a transaction, often a percentage plus a fixed amount.

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