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PayPal looses money on fraud (charge-back fraud mostly I assume). They had to pioneer fraud prediction/detection tech to even survive, let alone be profitable.
by auganov 11y ago
PayPal looses money on fraud (charge-back fraud mostly I assume). They had to pioneer fraud prediction/detection tech to even survive, let alone be profitable.
Actually after Peter Thiel left PayPal, he founded Palantir, which is strongly inspired by their fraud tech. Just more general.
Sure - in an ideal world the law enforcement would just catch all the bad guys and manage to get the money back. But when that doesn't happen a business has to account for it.
- Outdoorsman 11y ago>Sure - in an ideal world the law enforcement would just catch all the bad guys and manage to get the money back. But when that doesn't happen a business has to account for it.< IMO, the resources aren't there...and it's not complicated... Cyber crime, fraud, identity theft...the manpower is simply not there to keep up with it all...sometimes you're lucky if someone has the time to complete a ticket, or report... It's very possible conditions could get much, much worse before/if they improve... IMHO, at a business level all sorts of decisions are being made that aren't going to be popular with the public...
- snuxoll 11y agoPush instead of pull for card not-present transactions would go a LONG way to deal with fraud online.