Yashodhara Super-speciality Hospital Interview Questions and Answers

A chargeback is a reversal of a transaction made by a customer, typically due to fraud or dissatisfaction.

• A chargeback occurs when a customer disputes a transaction with their bank or credit card issuer.

• The process involves the merchant receiving a notification of the chargeback and providing evidence to dispute it.

• If the chargeback is upheld, the funds are taken back from the merchant and returned to the customer.

• Common reasons for chargebacks include unauthorized transactio...read more

Debit cards are linked to a checking account and funds are withdrawn directly, while credit cards allow you to borrow money up to a certain limit.

• Debit cards are linked to a checking account, while credit cards are a form of borrowing.

• Debit card transactions are deducted directly from your checking account balance, while credit card transactions are added to your credit card balance.

• Debit cards do not charge interest as you are using your own money, while credit cards charge ...read more

A card network is a company that processes credit and debit card transactions between merchants and card issuers.

• Card networks facilitate the authorization, clearing, and settlement of transactions.

• They set the rules and standards for card transactions, such as security protocols and interchange fees.

• Examples of card networks include Visa, Mastercard, American Express, and Discover.

Dispute is initiated by the cardholder, while chargeback is initiated by the card issuer.

• Dispute is when a cardholder questions a charge on their statement, while chargeback is when the card issuer reverses a transaction due to fraud or other reasons.

• Disputes are resolved between the cardholder and merchant, while chargebacks involve the card issuer and merchant.

• Disputes can be resolved without involving the card issuer, but chargebacks always involve the card issuer.

• Examples...read more

The dispute life cycle refers to the stages involved in handling and resolving a dispute or fraud case.

• Identification of the dispute or fraud

• Investigation and gathering of evidence

• Resolution or decision-making

• Communication with all parties involved

• Closure and monitoring for potential recurrence

Different types of fraud include identity theft, credit card fraud, insurance fraud, and investment fraud.

• Identity theft: When someone steals personal information to commit fraud.

• Credit card fraud: Unauthorized use of someone's credit card information.

• Insurance fraud: Falsifying information to make false insurance claims.

• Investment fraud: Deceiving investors for financial gain.

• Online fraud: Fraud committed through the internet, such as phishing scams.

ACH stands for Automated Clearing House, a network that facilitates electronic money transfers between bank accounts.

• ACH is commonly used for direct deposit of paychecks, bill payments, and transferring funds between accounts.

• ACH transactions are processed in batches and can take 1-3 business days to complete.

• Examples of ACH transactions include online bill payments, vendor payments, and transferring money between personal accounts.