payment-dispute

Vocabulary Word

Definition

'Payment dispute' means a disagreement between parties over a payment transaction. It usually arises when a customer believes a problem has occurred, like unauthorized charges or unsatisfactory goods or services.

Examples in Different Contexts

In credit card services, 'payment dispute' may arise from unauthorized charges. A fraud analyst might discuss, 'Detecting fraudulent transactions early can minimize payment disputes.'

Practice Scenarios

Business

Scenario:

Our client mentioned receiving an invoice with incorrect rate. They seem upset about it.

Response:

Let's review the contract and the invoice again. If the client's claim is correct, we should resolve the payment dispute swiftly.

Accounting

Scenario:

There appears to be several banking charges that we hadn't anticipated. It's creating quite a diversion in the finances.

Response:

We should initiate a payment dispute with the bank. Also, let's set up a meeting with our bank representative to discuss these unexpected charges.