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This is actually an argument I totally disagree with. Businesses are long-lived, have reputations to maintain, and need to build trust. They have every incentiv

This is actually an argument I totally disagree with. Businesses are long-lived, have reputations to maintain, and need to build trust. They have every incentive possible to treat their customers right, and issue refunds on valid issues. It is the customers that are sketchy and usually one-offs, and thus use stolen credit cards to burn the business with chargebacks. Businesses lose a huge amount to fraudulent payments. I would rather let businesses decide whether to choose payment options that allow chargebacks or not, and then customers can choose which businesses to support. The method of payment becomes one factor in shopping decisions. Businesses that eliminate chargeback risk are ultimately more competitive and can pass savings onto consumers. The whole chargeback thing is a ridiculous byproduct of our antiquated payment rails.

throw0101a 5y ago
> They have every incentive possible to treat their customers right, and issue refunds on valid issues. There are plenty of fly-by-night operations that will smash and grab as many transactions as they can and not care about their reputations because they'll just set up under another alias. Further, if your account/wallet gets compromised there is also no irreversibility. Whereas with the 'regular' banking system transactions can usually get reversed.
- herendin2 5y ago
  So, just don't do business with those obvious fly-by-night companies who have no established reputation or brand? From a company's point of view almost every individual consumer looks like a potential fly-by-nighter, so companies are forced to accept that risk, and we all share the costs of that. It could be useful to offer an alternative to this paradigm.
  - deleted 5y ago
    [deleted]
  - throw0101a 5y ago
    > So, just don't do business with those obvious fly-by-night companies who have no established reputation or brand? You're telling people to "just" be rational. Or to not be susceptible to slick marketing gimmicks, or to not be bamboozled by a fast-talking salesman.

throw0101a 5y ago

> They have every incentive possible to treat their customers right, and issue refunds on valid issues. There are plenty of fly-by-night operations that will smash and grab as many transactions as they can and not care about their reputations because they'll just set up under another alias. Further, if your account/wallet gets compromised there is also no irreversibility. Whereas with the 'regular' banking system transactions can usually get reversed.

herendin2 5y ago
So, just don't do business with those obvious fly-by-night companies who have no established reputation or brand? From a company's point of view almost every individual consumer looks like a potential fly-by-nighter, so companies are forced to accept that risk, and we all share the costs of that. It could be useful to offer an alternative to this paradigm.
- deleted 5y ago
  [deleted]
- throw0101a 5y ago
  > So, just don't do business with those obvious fly-by-night companies who have no established reputation or brand? You're telling people to "just" be rational. Or to not be susceptible to slick marketing gimmicks, or to not be bamboozled by a fast-talking salesman.