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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Refund
The refund is the granting of a credit directly by the dealer. The refund can be used to reverse a booking that has been made. If an end customer complains about an unauthorized charge to his credit card, a refund should be made. If the end customer goes to his issuer first, a chargeback will occur. This leads to considerable costs due to the high chargeback fees and burdens the chargeback quota.
Chargeback-Quote
The chargeback ratio is the limit set by the acquirer for chargebacks, taking into account the risk classification for a merchant. If this limit is exceeded, the acquirer can revoke the merchant's contract company number or terminate the credit card acceptance agreement. This means that the merchant can no longer offer payment by credit card, which can have a negative impact on sales.