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The focus on Venmo is because you are in the US I guess ? The credit card reversal part is solved by 3D Secure 2.0, where the barrier to get a transaction reve
by makeitdouble 5y ago
The focus on Venmo is because you are in the US I guess ?
The credit card reversal part is solved by 3D Secure 2.0, where the barrier to get a transaction reversed is way higher (the issuing bank has the responsibility to validate it comes from the customer). I don't know how fast it's adopted outside of the EU, but we're far from the days where you just passed operations with a stolen number and a valid CVC.
- alexb_ 5y agoYou cannot just throw technology at a human problem and expect it to be solved. Scams will always exist as long as there is someone to be scammed. No amount of technology can "solve" this problem.
- makeitdouble 5y agoWe're talking here about a case that was introduced by technology (wide possibility to emit chargebacks) and is fixed by technology (severely limit chargeback potential).