When a Customer Challenges a Credit Card Transaction That Appears

question 25

Multiple Choice

When a customer challenges a credit card transaction that appears on their statement, who bears the onus of proof?

• A)The onus is on the merchant to prove that the transaction took place.
• B)The onus is on the customer to prove that the transaction did not take place.
• C)The onus is on the card issuer to prove that the transaction did not take place.
• D)The onus is on the bank to resolve any dispute.

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Definitions:

Invoice

A document issued by a seller to a buyer that specifies the products or services provided and the corresponding payment terms.

Scratch-and-Save

A promotional discount method where customers scratch a card to reveal a discount or prize.

Profit

The financial gain realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Rate of Markdown

The percentage decrease from the original price to the sale price.