So I read that there will be protection against chargebacks for the seller. I also read that there will be consumer protection plans in place as well. UTRUST guarantees to cover any payments made via UTRUST. I'm guessing that you will be covering the consimer's cost in the form of UTRUST tokens? I don't see any other way to cover both sides of the deal without going bankrupt. So far this project seems like a functional cleaned up version of what PayPal should have been.
They don't cover everything. Unlike credit cards, if a UTrust consumer loses his account due to weak password management or phishing for example, that is not covered. It is the consumers' responsibility to keep their wallets safe.
UTRUST will not protect users from fraudulent activities on their side, but only from fraudulent sellers. If you lose your private keys, this is still your responsibility.