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Typically yes. A loss of transaction from your traffic is usually deducted. Infact the webmaster sometimes will pay a large fee ONTOP of getting a refund/chargeback so we lose twice as much.
Everyone lately will notice a higher degree of REFUNDS. These are administered at the processor level to maintain a healthy conversion ratio that our credit card companies need to maintain for us to continue business. It's frustrating but people are dishonest and try to scam themselves out of legitimate transactions they make on their own.
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