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> in the case of online sales, the merchant is the known quantity with a reputation This is absolutely not true. There’s plenty of risk buying expensive goods
by yunohn 5y ago
> in the case of online sales, the merchant is the known quantity with a reputation
This is absolutely not true. There’s plenty of risk buying expensive goods online, lots of problematic merchants. I don’t understand why merchants are inherently more trustworthy than customers?
- Taek 5y agoIt's not that merchants are inherently more trustworthy, it's that the buyer has ample opportunity to research the merchant and establish credibility. If there's a merchant that only accepts crypto and the buyer can't get comfortable that the merchant is trustworthy, the buyer can walk away instead of making a purchase. The merchant has much less to go on. There aren't review websites detailing the reputation and history of every random buyer that enters a credit card onto your website.
- barrkel 5y agoI don't quite buy that. The ability to claw back credit card payments to fraudulent merchants enables commerce before credibility is established. This is in the merchant's interest too, especially when they're starting out.
- Taek 5y agoIt's only in the interest of the merchant if they are selling items that have a low enough chargeback rate. Credit cards and clawbacks work great in-person and for low value online merchandise but it's non-viable for online high resale value merchandise.
- perl4ever 5y ago>it's non-viable for online high resale value merchandise. What does that mean? The phrase "high resale value merchandise" sounds like it refers to the stuff that, in physical stores, is kept in a locked case so you have to ask someone to open it. But that stuff is readily available online, isn't it?