6 ms·

5% is huge. Like, ban your business from taking credit cards huge.

by spinlock 4y ago

Brystephor 4y ago
Yep. Anything greater than 1% is leading to trouble such as huge fees or being kicked off a card network.
gary_0 4y ago
So you're saying all I need to do to knock a business offline is spam it with enough fraudulent CC numbers?
- jacobolus 4y ago
  Yes you might be able to do that, at the risk of some personal liability because this is illegal. It’s also grossly unethical. If your fraud has a large enough monetary value, large enough scale, or you work with another person on it, you can get hit with a serious felony charge and end up in prison for a few years. Disclaimer: I am not a lawyer or expert on credit card fraud.
  - Kamq 4y ago
    I think people don't realize how much of the economy relies on agreements to not be a piece of shit. Sort of like the highway system relies on an agreement not to play bumper-cars. There's nothing actually stopping anyone.
    - jolux 4y ago
      > There's nothing actually stopping anyone. Self-preservation.
      - deleted 4y ago
        [deleted]
- kelseyfrog 4y ago
  We're actually working to provide this functionality as a service but it's currently stealth so I can't get into much more detail.
- herbst 4y ago
  This is exactly the big issue no one is talking about. We are putting more and more pseudo security in customer protection but as a seller I am always in constant danger. A chargeback with stripe costs like $15 for the seller. Even if the charge was only $1.5. Imagine the monetary problems you could create and the seller has no other way than to pay and hope to not get banned.
- franga2000 4y ago
  Yup, that's an attack that exists and is used regularly. It's not trivial to pull off, but is easy/accessible enough that competitors will sometimes do this to each other's web shops (I've heard of two cases of this just in last 3 years and that's in a city of only 300k people).
pardon_me 4y ago
I have seen a business run with this dealing with mobile phones targeted by organised fraudsters. Moving "too fast" to notice and whoops profit is £0.2m not £3m.

5% is huge. Like, ban your business from taking credit cards huge.

Brystephor 4y ago

Yep. Anything greater than 1% is leading to trouble such as huge fees or being kicked off a card network.

gary_0 4y ago

So you're saying all I need to do to knock a business offline is spam it with enough fraudulent CC numbers?

jacobolus 4y ago
Yes you might be able to do that, at the risk of some personal liability because this is illegal. It’s also grossly unethical. If your fraud has a large enough monetary value, large enough scale, or you work with another person on it, you can get hit with a serious felony charge and end up in prison for a few years. Disclaimer: I am not a lawyer or expert on credit card fraud.
- Kamq 4y ago
  I think people don't realize how much of the economy relies on agreements to not be a piece of shit. Sort of like the highway system relies on an agreement not to play bumper-cars. There's nothing actually stopping anyone.
  - jolux 4y ago
    > There's nothing actually stopping anyone. Self-preservation.
    - deleted 4y ago
      [deleted]
kelseyfrog 4y ago
We're actually working to provide this functionality as a service but it's currently stealth so I can't get into much more detail.
herbst 4y ago
This is exactly the big issue no one is talking about. We are putting more and more pseudo security in customer protection but as a seller I am always in constant danger. A chargeback with stripe costs like $15 for the seller. Even if the charge was only $1.5. Imagine the monetary problems you could create and the seller has no other way than to pay and hope to not get banned.
franga2000 4y ago
Yup, that's an attack that exists and is used regularly. It's not trivial to pull off, but is easy/accessible enough that competitors will sometimes do this to each other's web shops (I've heard of two cases of this just in last 3 years and that's in a city of only 300k people).

pardon_me 4y ago

I have seen a business run with this dealing with mobile phones targeted by organised fraudsters. Moving "too fast" to notice and whoops profit is £0.2m not £3m.