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I’ve heard this is apparently less about morality and more about payments getting contested by men getting caught by their spouses
by mountainriver 5mo ago
I’ve heard this is apparently less about morality and more about payments getting contested by men getting caught by their spouses
- presbyterian 5mo agoI don't have any data on this, so don't quote me on it at all, but this feels more like an excuse made up by paypros than an actual good explanation.
- saltyoldman 5mo agoNo one would have data on something like that! Wife finds out, husband says, someone stole my card! You expect them to own up later?
- dec0dedab0de 5mo agoThe reason doesn't matter, the data would be on the amount of chargebacks being made.
- amelius 5mo agoThose people should have used cryptocurrencies.
- prmoustache 5mo agoYou mean using currencies where all the transactions are public?
- 999900000999 5mo agoIt’s not even that complex. The chargeback rates might just be higher than the payment processors feel like dealing with. I’m more than fine with more transactions leaving the traditional credit card system. Giving Visa a 3% surcharge on the entire economy never felt right
- Pay08 5mo agoThe idea is that chargeback rates are that high because of people getting caught by their spouses.
- lotsofpulp 5mo agoVisa and Mastercard operate electronic payment networks for debit transactions, which are almost free, and would also be banned by this. Leaving the only other electronic payment methods as ACH (which is not ideal for most businesses), Paypal, and I don’t know what else.
- chimeracoder 5mo ago> I’ve heard this is apparently less about morality and more about payments getting contested by men getting caught by their spouses This is a common myth. The concerted effort that we've seen over the last 5-10 years in particular is the direct consequence of intense lobbying from a handful of groups that are openly backed by or aligned with right-wing religious groups, especially (but not exclusively) evangelicals. In case you have any doubts about whether "morality" is their motivation, one of the groups was literally called "Morality in Media", before renaming to the more official-sounding National Center on Sexual Exploitation. Despite the new name, they actually don't care very much about "sexual exploitation" as most reasonable people would define the term (such as child abuse) but instead consider all sex work to be "exploitation" and aim to ban legal sex work.
- deleted 5mo ago[deleted]
- paxys 5mo agoThat's not the reason. Cost of chargebacks falls entirely on the merchant. Visa/MC have no reason to care.
- mrsilencedogood 5mo agoWhat happens if the merchant folds or disappears? Stripe (or Visa or whoever) then are the bagholder. And if someone has a ton of chargebacks, it's not uncommon they're then difficult to collect from.
- eclipticplane 5mo agoThen hold back a portion of funds in escrow.
- mrsilencedogood 5mo agoAh good job, you fixed it. I suggest you let Stripe and Visa know, I'm sure they'll be keen.
- qingcharles 5mo agoI've worked in this space. I feel like the statistics about chargebacks are thrown around because they sound like they could be real. The real chargeback rate is actually incredibly low. Probably way less than Amazon or anyone selling physical objects.