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Prepay and keeping user balances puts you in an entirely new compliance bracket that is much more complicated than charging a credit card and shipping a product
by nikcub 14y ago
Prepay and keeping user balances puts you in an entirely new compliance bracket that is much more complicated than charging a credit card and shipping a product. You get regulated almost like a bank.
I'm not surprised that they aren't bothering with all that yet
- JoshTriplett 14y agoDepends on how you treat it. If you treat it like buying a gift card, and either don't allow refunds or only refund to the same payment mechanism the user originally used, then you shouldn't trigger any of the "financial instrument" regulations. That just leaves you with any issues raised by your credit card processor, about whether you've "delivered" the product the user purchased.
- toomuchtodo 14y agoReally? Because Twilio seems to handle it just fine. Charge card when balance falls below certain balance, and you can't get the funds back without a really good reason. You know, just like Amazon gift card balances applied to your consumer Amazon account.