A chargeback is when the customer calls their credit card company and disputes a charge as either fraudulent or as a bad service/product that was not delivered as purchased. When the processor receives this request, they pull the money from the merchants account and then issue the merchant the paperwork to dispute the chargeback as a mediation process. Humans review both sides and decides if the charge should stand or be refunded. More than 1% in chargebacks is a huge black mark on your credit card processing record and may get your account shut down. Chargebacks are the risk that the processor takes on which is why they do so much underwriting when setting up your account.
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