Probably not. The customer cannot legitimately claim the transaction was not authorized. Depending on the terms of the sale, the merchant may or may not have agreed to issue a refund if the goods were returned. If the merchant agrees to issue a refund and fails to do so, the customer has a Reg E claim for the missing credit transaction once it doesn't appear on his statement.
There may or may not be a Visa or MasterCard claim.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8