In wholesale, a penalty a retailer charges for breaking their routing or compliance rules. In payments the same word means something else entirely — a consumer disputing a card charge.
In wholesale, a penalty a retailer charges for breaking their routing or compliance rules. In payments the same word means something else entirely — a consumer disputing a card charge.
The two meanings collide constantly. A retail chargeback is a compliance fine; a card chargeback is a reversed payment with a bank behind it. Confusing them in a conversation about money wastes an hour every time.
Every term here is one the protocol actually uses, defined for somebody who was never taught it — with the part that usually goes wrong. All terms →