Chargebacks occur when transactions that have been processed are then reversed. For example this could happen due to a dispute over the transaction, where the end customer claims they never authorized the transaction. The transaction is then reversed, and the customer receives their money back. This is, in effect, losing the money the business could have earned. The effect of chargebacks on any company is unfavorable. However, it can be even more detrimental for online businesses since the...
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