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> Somehow, all the businesses that currently exist and accept credit cards are doing so without more than 1-2% chargeback rates. Citation needed. https://www.

by codexon 11y ago

> Somehow, all the businesses that currently exist and accept credit cards are doing so without more than 1-2% chargeback rates. Citation needed. https://www.quora.com/Online-Payment-Gateways-and-Processing/What-is-the-average-chargeback-rate-in-the-US https://www.quora.com/Online-Payment-Gateways-and-Processing... "Amount over $2400-$2500 mark suddenly experiences a surge and it is almost 3.0% to 3.5%" I have personally had times where my chargeback rate has been above 2%. Being able to accept credit cards is more of a right rather than a privilege given how much of a monopoly they have and it is virtually impossible to accept payments online through any other means. I take it you are in favor of credit card companies being able to block payments to arbitrary entities such as wikileaks?

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pbreit 11y ago
It is very common knowledge that 1% is the cutoff. Are you seriously questioning that?
- codexon 11y ago
  I don't doubt 1% is a common standard but the parent was making the assertion that "all the businesses that currently exist and accept credit cards are doing so without more than 1-2% chargeback rates".
  - pbreit 11y ago
    Maybe not "all", just 99.9%.
mootothemax 11y ago
"Amount over $2400-$2500 mark suddenly experiences a surge and it is almost 3.0% to 3.5%" Did you read the rest of that comment? "I can cite figures for Remittance industry only." From Wikipedia: "A remittance is a transfer of money by a foreign worker to an individual in his or her home country." https://en.wikipedia.org/wiki/Remittance https://en.wikipedia.org/wiki/Remittance Frankly, I'm kinda surprised that they're able to operate in that industry with credit cards at all, given how attractive it'll be to credit card fraudsters.
- codexon 11y ago
  And what is your point? The remittance industry is not a valid business?

by codexon 11y ago

deleted 11y ago

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pbreit 11y ago

It is very common knowledge that 1% is the cutoff. Are you seriously questioning that?

codexon 11y ago
I don't doubt 1% is a common standard but the parent was making the assertion that "all the businesses that currently exist and accept credit cards are doing so without more than 1-2% chargeback rates".
- pbreit 11y ago
  Maybe not "all", just 99.9%.

mootothemax 11y ago

"Amount over $2400-$2500 mark suddenly experiences a surge and it is almost 3.0% to 3.5%" Did you read the rest of that comment? "I can cite figures for Remittance industry only." From Wikipedia: "A remittance is a transfer of money by a foreign worker to an individual in his or her home country." https://en.wikipedia.org/wiki/Remittance https://en.wikipedia.org/wiki/Remittance Frankly, I'm kinda surprised that they're able to operate in that industry with credit cards at all, given how attractive it'll be to credit card fraudsters.

codexon 11y ago
And what is your point? The remittance industry is not a valid business?