Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Holdback
Part of a payment that is withheld from a merchant's credit card transaction to cover any chargebacks or other contested debits that may be incurred by the merchant. After some time, the retained portion of the amount is refunded to the merchant.
The holdback vis-à-vis the dealer is regulated in the dealer acceptance agreement. In this case, risky goods have a higher holdback rate because the risk of default is increased.