Chargebacks
A chargeback represents the reversal of a certain transaction made using a debit card or credit card.
Chargebacks
Local regulations and the international dispute resolution guidelines of Visa and/or Mastercard both provide protection to customers who use credit cards or debit cards to make purchases. Additionally, Treating Clients Fairly (TCF) standards are in place at many financial institutions worldwide to safeguard customers from malevolent or dishonest online retailers.
Chargebacks for Authorized Transactions
Given that they are often the outcome of a transaction that took place on a retailer's website, conflicts involving goods or services are frequently complicated in nature. Customers have the option to reverse transactions if nothing was delivered, something was damaged, or even if the purchases were made as a result of deceptive advertising.
Is a “Bitcoin Chargeback” Possible?
Anyone who has had charges on their credit card reversed has some knowledge of the chargeback procedure. Users of cryptocurrencies might ask if they can access the same fund recovery procedure. Can you get a chargeback for bitcoin?
Both "Yes" and "No" are the responses. On the blockchain, transactions cannot be reversed in the same way that a credit card chargeback can. A persistent block is produced by each blockchain transaction.