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I know a business that went cash-only for the same reason in reverse: the thieves were doing it via chargebacks saying they never heard of the place. Couldn't w

by qup 3y ago

I know a business that went cash-only for the same reason in reverse: the thieves were doing it via chargebacks saying they never heard of the place. Couldn't win disputes even with video evidence. They put in an ATM, can't charge that back.

seanmcdirmid 3y ago
You can accept debit cards and not accept credit cards. That is actually really common in Europe. Chargebacks for most CC providers are around $50-$100 now, so you can do it for small items, I wonder who uses cash to buy something that would make a chargeback worthwhile for a thieve? They would have to rotate cards around to get that. More likely, thieves were using stolen cards, and the chargebacks were probably legitimate (a thief trying to make money on a chargeback would be pretty dumb anyways, since it would be tracked back to their identity regardless, and the bank would shut them down quickly they made an unusual habit of it).
- akira2501 3y ago
  Towing companies often only accept cash for certain types of jobs. They want zero opportunities for disputes or late stage regrets, particularly for towing off private property or illegally parked vehicles.
bagels 3y ago
Unfortunately, the other thieves will rip a hole in the wall to steal the ATM.
- sambazi 3y ago
  "not my problem" thou
- qup 3y ago
  It's been over 4 years, so the ROI is pretty healthy even if this were true. It's a late-night business, though,and adjacent to early-open businesses, so it's probably hard to find a convenient time.
hackernewds 3y ago
That is not how the chargebacks systems work. Source: I've worked in Fraud department at a large payment processor
- qup 3y ago
  Not sure what you mean. It was Square, which is talked about above. Customer's bank says "customer says they have no knowledge of this charge" Square allows a dispute, including with video and photo evidence of the guy signing the tablet himself. That was submitted. Customer's bank kept the money.
  - nulbyte 3y ago
    I suspect Square accepts the chargeback and passes it back to the merchant without dispute. Sadly, some processors find the cost of helping their merchants to be too high. I know Facebook does this.
makeitdouble 3y ago
Card in the machine transactions can't be charged back like that. Try explaining that you lost your card and someone with your PIN paid with it, or you got mugged but never declared the theft and want your $10 back. That won't happen.

by qup 3y ago

seanmcdirmid 3y ago

You can accept debit cards and not accept credit cards. That is actually really common in Europe. Chargebacks for most CC providers are around $50-$100 now, so you can do it for small items, I wonder who uses cash to buy something that would make a chargeback worthwhile for a thieve? They would have to rotate cards around to get that. More likely, thieves were using stolen cards, and the chargebacks were probably legitimate (a thief trying to make money on a chargeback would be pretty dumb anyways, since it would be tracked back to their identity regardless, and the bank would shut them down quickly they made an unusual habit of it).

akira2501 3y ago
Towing companies often only accept cash for certain types of jobs. They want zero opportunities for disputes or late stage regrets, particularly for towing off private property or illegally parked vehicles.

bagels 3y ago

Unfortunately, the other thieves will rip a hole in the wall to steal the ATM.

sambazi 3y ago
"not my problem" thou
qup 3y ago
It's been over 4 years, so the ROI is pretty healthy even if this were true. It's a late-night business, though,and adjacent to early-open businesses, so it's probably hard to find a convenient time.

hackernewds 3y ago

That is not how the chargebacks systems work. Source: I've worked in Fraud department at a large payment processor

qup 3y ago
Not sure what you mean. It was Square, which is talked about above. Customer's bank says "customer says they have no knowledge of this charge" Square allows a dispute, including with video and photo evidence of the guy signing the tablet himself. That was submitted. Customer's bank kept the money.
- nulbyte 3y ago
  I suspect Square accepts the chargeback and passes it back to the merchant without dispute. Sadly, some processors find the cost of helping their merchants to be too high. I know Facebook does this.

makeitdouble 3y ago

Card in the machine transactions can't be charged back like that. Try explaining that you lost your card and someone with your PIN paid with it, or you got mugged but never declared the theft and want your $10 back. That won't happen.