When a Cardholder Successfully Contests a Charge, the Acquiring Bank

question 72

Multiple Choice

When a cardholder successfully contests a charge, the acquiring bank must retrieve the money it placed in the merchant account in a process called a _____.

• A) click-through
• B) chargeback
• C) dispute
• D) recharge

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Definitions:

Federal Trade Commission

A U.S. federal agency with the mission to protect consumers and promote competition by preventing anticompetitive, deceptive, and unfair business practices.

Washington, District of Columbia

The capital of the United States, a federal district that houses the federal government's three branches and numerous national monuments and museums.

Trade Regulation Rules

Guidelines and laws that govern business practices and competition, aimed at ensuring fair competition and protecting consumers.

Adjudicative Proceedings

Legal processes where an official authority reviews evidence and arguments to make a formal decision.