Refunds and chargebacks are not evenly remotely the same.
A refund is when you purchase something and you legitmately have a problem. The vendor acknowledges the problem and agrees to refund or return your money. These situations are usually amicable.
A chargeback suggests a huge problem. It can suggest fraud on the vendor's part for not supplying an item or it can suggest fraud on the buyer's part for stealing an item.
It can suggest someone using a credit card illegally. No matter how you look at it, a chargeback is a serious thing. Further if you are the merchant and you receive too many chargebacks, the processor will have a rep from their investigation unit check into you.
So no these two terms are not even remotely similar nor used interchangeably. |