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curious. get card details, do transaction with bank, send ACK to ecomm site and user, and done. why do they need to store these info?
by tsjq 6y ago
curious.
get card details, do transaction with bank, send ACK to ecomm site and user, and done. why do they need to store these info?
- est31 6y agoI think the whole point of India's project to abandon cash is to allow for tracking. If all this data is thrown away the entire excercise was pointless.
- Santosh83 6y agoAny kind of digital financial system enables tracking. It is a dream for all authoritarian systems.
- sofixa 6y agoRegulations ( to combat fraud, etc), to be able to process chargebacks?
- deleted 6y ago[deleted]
- frombody 6y agowhat are you suggesting? that a company should not keep track of their individual sales? just some sort of large running grand total? or perhaps some sort of anonymized database where they can see that stuff was sold, but not to who? surely you can see the flaws here.
- Nextgrid 6y ago> that a company should not keep track of their individual sales? just some sort of large running grand total? We're talking about the payment processor, not the merchant. It makes sense for a merchant to keep track of this information, less so for a payment processor. I'd expect the processor to delete/anonymize all the data past the chargeback/refund period.
- captn3m0 6y agoPayment processors get audited, they need to store data for more than the chargeback/refund period. Plus, India deals with all kinds of instruments for which there isn't any "chargeback period" of sorts. Disclaimer: I work at a competing payment org in India.