Description: A transaction dispute occurs when there is a disagreement between parties regarding a transaction. This disagreement can arise for various reasons, such as the non-receipt of a product, discrepancies in its quality, or failure to comply with agreed terms. In the context of payment systems, transaction disputes are an essential mechanism that allows consumers and merchants to resolve conflicts in a structured manner. These disputes are often managed through mediation systems provided by payment systems, where both parties can present their case and provide evidence. Resolving these disputes is crucial for maintaining trust in e-commerce and digital transactions, as it ensures that consumer rights are protected and that merchants can defend their reputation. Additionally, transaction disputes are an important component in the regulation of online commerce, as they promote fair and transparent business practices. In summary, transaction disputes are a fundamental aspect of payment systems, ensuring that transactions are conducted fairly and equitably for all parties involved.
