Chargeback insurance
From Wikipedia, the free encyclopedia
Chargeback insurance refers to an insurance coverage protecting a merchant who accepts credit cards. The coverage protects the merchant against cardholder fraud in a transaction where the use of the credit card was unauthorized, and covers claims arising out of the merchant’s liability to the service bank.
This coverage can apply under a number of circumstances, including:
- A credit card is lost or stolen and used before the cardholder can report it
- Identity theft
- Post-purchase "ship to" information changes
[edit] See also
- CISP - Cardholder Information Security Program
- PCI - Payment Card Industry
