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Stripe CEO Patrick Collison: "What is happening?" => basically, a major uptick in attempted fraud over the first half of this year that necessitated making our
by imdsm 4y ago
Stripe CEO Patrick Collison:
"What is happening?" => basically, a major uptick in attempted fraud over the first half of this year that necessitated making our systems stricter. But have an idea for a structural fix here. More soon. (DM me if you've had problems on this front.)
https://twitter.com/patrickc/status/1550136569482252289 https://twitter.com/patrickc/status/1550136569482252289
- neonate 4y agoThat tweet was posted in July about a different case. At least I assume it was different.
- sschueller 4y agoWhy is it still possible to commit so much fraud with credit cards? Where is the second factor for CC use online or some other more secure way? When I use my VISA chip and pin credit card online I sometimes depending on merchant/amount/etc have to approve the transaction via the credit card app. Should this be the defacto standard?
- tdeck 4y agoIt's because merchants tolerate a certain amount of fraud loss in order to reduce friction for the customer when making a payment. The same reason nobody ever checks you ID when you pay with a credit card in a store (unless you're in Vegas where they seem to do that, for some reason).