Chargebacks — the process of forcible returning of money from the merchants (business) account back to the cardholder (customer` credit/debit card). There is another way in a financial system for customers to get the money back—refund. The difference between the refund and chargeback is that refund is an agreement between merchant and customer, which doesn’t involve the bank. But in this article we will talk about chargebacks as the processes of forceful money return that can cause after-effects for merchants. Chargebacks are usually initiated by the customer (cardholder) who contacts the bank (the one who issues the card) with the