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Feeling the burn right now on this. I collect a $9 a month for my videos that have helped thousands of people learn to code and get their jobs. For over 3 years

Feeling the burn right now on this. I collect a $9 a month for my videos that have helped thousands of people learn to code and get their jobs. For over 3 years of running it I have not had a single dispute until now. One of my customers subscribed and has been watching my content for 2 months and decided that he is now done and decided to file a dispute. Before I could even email them any evidence or make my case I was told I would most likely lose this dispute. My payment gateway told me they would charge me $500 for arbitration fee if I lost the dispute. I forwarded them my t&c and proof that the customer has used my site and content. I even reached out to the customer to ask why they did what they did, no answer. It’s a crappy system and online payments is broken. Credit card and payment processing is hugely broken and far behind the times. Fortunately I am in the position to do something about it. My team and I just recently finished building and launched a new payment engine, we have already started processing payments in the millions of dollars just a few months in and will be taking on Banks, VISA, MasterCard and all traditional payment platforms. It sounds far fetched but when I’ve decided to tackle something I don’t fail. I’ve made it a personal goal to innovate in the payment space. I’m so very excited about the future.

bhargav 6y ago
Talk about a tease. You have no mention of this project in your website either. Care to talk more? Timelines? How and what problems are you solving?
phil21 6y ago
The worst part about chargebacks is that as a small merchant you are entirely screwed, to the point of absurdity - almost no evidence can save you, even if you have actual security video and a card present transaction (been there, done that)!. Then, after dealing with that situation for close to two decades in various businesses - I finally need to call Amex for my own consumer dispute for the first time ever. It was against a giant corporation quite well known for their entirely-on-purpose dark pattern billing tactics. I simply wanted Amex to block any future charges as I couldn't get them to cancel without jumping through absurd hoops such as showing up in person with photo ID while living out of the country. Amex basically told me to jump off a cliff. Not even re-issuing the card saved the future charges as they now have a system to give the vendor the new card info. I had to fully cancel my Amex to get the charges to stop. Why Amex decided to try to enforce a civil contract (especially one they never saw) is beyond me. It was my account, and my option to freeze charges. I was fully prepared and ready to deal with a civil case should the vendor had tried to go after me once the credit card charges bounced. But Amex didn't even give me this option. That is the day I went from a pretty large proponent of Amex customer care/etc. to someone who de-evangelizes them every chance I can get. And that's not saying any other credit card companies/banks are any better - just that I spent decades being screwed by the credit card system as a merchant, to only get screwed as a consumer on the other side when supposedly they were "on my side".
- Gibbon1 6y ago
  > Amex 25 years ago my companies Amex card inexplicably hit it's 25k credit limit. Their response when asked why; fuck off and wait for your monthly bill.
carlosf 6y ago
Would you mind sharing the name of your product?
grwthckrmstr 6y ago
Would love to follow the progress of your venture. Do share any links:)
GeneralTspoon 6y ago
Could you name your previous payment gateway (if it's not going to get you in trouble)? I think it's important to discuss hidden fees (especially on the consumer side - most people aren't even aware that 3rd parties get a cut of every card transaction they make)

bhargav 6y ago

Talk about a tease. You have no mention of this project in your website either. Care to talk more? Timelines? How and what problems are you solving?

phil21 6y ago

The worst part about chargebacks is that as a small merchant you are entirely screwed, to the point of absurdity - almost no evidence can save you, even if you have actual security video and a card present transaction (been there, done that)!. Then, after dealing with that situation for close to two decades in various businesses - I finally need to call Amex for my own consumer dispute for the first time ever. It was against a giant corporation quite well known for their entirely-on-purpose dark pattern billing tactics. I simply wanted Amex to block any future charges as I couldn't get them to cancel without jumping through absurd hoops such as showing up in person with photo ID while living out of the country. Amex basically told me to jump off a cliff. Not even re-issuing the card saved the future charges as they now have a system to give the vendor the new card info. I had to fully cancel my Amex to get the charges to stop. Why Amex decided to try to enforce a civil contract (especially one they never saw) is beyond me. It was my account, and my option to freeze charges. I was fully prepared and ready to deal with a civil case should the vendor had tried to go after me once the credit card charges bounced. But Amex didn't even give me this option. That is the day I went from a pretty large proponent of Amex customer care/etc. to someone who de-evangelizes them every chance I can get. And that's not saying any other credit card companies/banks are any better - just that I spent decades being screwed by the credit card system as a merchant, to only get screwed as a consumer on the other side when supposedly they were "on my side".

Gibbon1 6y ago
> Amex 25 years ago my companies Amex card inexplicably hit it's 25k credit limit. Their response when asked why; fuck off and wait for your monthly bill.

carlosf 6y ago

Would you mind sharing the name of your product?

grwthckrmstr 6y ago

Would love to follow the progress of your venture. Do share any links:)

GeneralTspoon 6y ago

Could you name your previous payment gateway (if it's not going to get you in trouble)? I think it's important to discuss hidden fees (especially on the consumer side - most people aren't even aware that 3rd parties get a cut of every card transaction they make)