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Supposedly (or so I heard), UnionPay in China doesn't provide fraud protection/reimbursement to users (irreversible). Ditto for Alipay, where a large portion of
by kylebrown 15y ago
Supposedly (or so I heard), UnionPay in China doesn't provide fraud protection/reimbursement to users (irreversible). Ditto for Alipay, where a large portion of transactions are done using escrow.
China is said to be a "cash society". Quite interesting that (if I heard correctly) their biggest credit/debit card and online payment companies don't offer any protection to users - the biggest challenge payment processors face in the U.S.