One is your choice and cheap; the other is forced and costly. Here's how they compare.
Refunds
A refund is initiated by you. The money goes back to the customer and the relationship usually stays intact.
Chargebacks
A chargeback is initiated by the cardholder through their bank. It comes with fees, counts toward your dispute ratio and takes time to resolve.
The takeaway
When a customer is unhappy, a fast refund is almost always the better outcome for everyone.
Accept cards and wallets with Finoptiq
Visa, Mastercard, Apple Pay and Google Pay through one integration.
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