how does Bitcoin commerce handle refunds, chargebacks, ect. ?
In the fiat world customers can chargeback their payments from a vendor to recoup monies or request a refund via a service level agreement.
How can these actions be handled in p2p payments to make sure consumer is protected?
#bitcoin #btc #asknostr #commerce
Caveat emptor.
I guess you could have a smart contract, but ultimately you'd be protected in the same way you are with cash payments. You would take the vendor to court.
That would probably mean it was safer to buy locally, but is that ever really any different?
Same way you do cash refunds
A payment is a payment. An agreement is an agreement. A dispute is a dispute. Etc etc.
As a merchant I wonder the same thing. It's a valid question. Payment system is t robust enough yet and we are all so used to charge backs etc. This might be the only constructive service that cc companies provide, but also I'm sure much of it will be unnecessary in a BTC based system.
