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Consumers can reverse credit card payments up to six months out.
by jws 16y ago
Consumers can reverse credit card payments up to six months out.
- pbhjpbhj 16y agoThat's a product insurance system though isn't it, it's not clearing or failing to pay.
- tedunangst 16y agoIf a transaction can be reversed, it hasn't cleared.
- pbhjpbhj 16y agoWhat I'm saying is that my impression is that the transaction is not reversed but that a subsequent insurance claim is made. IMO if the money is available for you to spend then it has "cleared". Money that has cleared may be recouped, eg when you sell something fraudulently and get nabbed.
- tedunangst 16y agoIf you fraudulently sell something and then spend the money, how does paypal recoup it?
- cma 16y agoIf a merchant (paypal) has a high triggering rate on that insurance, the credit card company might raise their rates on that merchant.
- btilly 16y agoAny combination of actions that lets fraudsters get money from PayPal without in the end having to pay money out is going to lead to huge losses. One way or another that money will come from PayPal in the end.