It's a transaction reversal (aka refund) issued by the bank to protect customers from fraudulent activity, technical errors, etc.
Fraud accounts for 50% of all chargebacks, which is why you should use a secure payments process. Other reasons could include a quality issue with the product sent, or a technical or clerical error made by the bank.
Payments processed through Keap Payments are run through a risk algorithm that monitors transactions for suspicious activity. This helps reduce the chance of a fradualent transaction going through.
Only 20-30% of chargebacks are successfully disputed. We can help reduce that rate. Read on.
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