I wanna know too. It’s harder to win a chargeback against a software company. Easier to argue that a merchant failed to meet their obligations for in-person retail or eCommerce transactions than a subscription to a piece of software. I’m curious what standing the customer has in this case.
Not saying OP is in the wrong here at all. I work for a software company that gets hosed on chargebacks too. The CC companies make money either way and have the nerve to blame the merchant for not preventing the fraud.
Source: 10 years in eCommerce product management
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I mean I am entirely unfamiliar with the concept. We rarely use credit cards where I am from and most of our payments are done via debit cards (or cash) and our regular payments are usually done via a repeat pay order with a specific code.
From what I could gather this is related to subscribing to a service with a credit (or possibly a debit) card and then having a dispute over whether may the service provider continue to charge you or not.
Is my assessment correct?
If so it doesn't surprise me. From what I know. the american payment environment is quite ridiculous to pretty much all europeans (and I'd suspect elsewhere too) I mean giving your card to a waitress who takes it out of your sight, pqper checks, actually signing something when you pay with a card etc. It's just wild.
They are all 100% stolen credit cards being used on my website.
Let me check if I understand it correctly.
A guy with a stolen credit card uses a merchant who uses your service to order some goods. The stolen credit card gets charged and money is successfully transferred to your account. You then send an equivalent amount in btc to the merchants wallet. Then you are being hit with a dispute due to the card being stolen and you having to foot the bill for the CC thief who walks away with the goods that you in essence paid for?
Did I get it right?
Yup. I suffer as the merchant, the theif, the bank and the card profit