Make $13 sale but charged back so now I lost product and I owe $15 dispute fee
This is why I want to fix payments so badly, merchants lose billions to this
Discussion
txo is doing Satoshi's work.
Wtf
Yup. Brutal. I don't accept Amex anymore after losing a $5,000 dispute that was clearly a scam.
That stuff is brutal. It's also what makes me wonder how AI compute even makes sense without final transactions. Couldn't someone just use a bunch of compute, then reverse the credit transactions or simply use fraudulent cards?
That's exactly what happens to me, probably eats like 5% of my annual revenue
That's a decent chunk of revenue. Same for my business, I think we've got about 3-5% of our revenue never came in. We provided the service and people didn't pay for their invoice. Too little for court, but when you put it all together, it ends up being a decent chunk.
Stripe sucks
For Plati (my app name), we will only use payment methods that are final (as final as fiat payments can be). Such systems are adopted in various countries because everyone is tired of debit/credit cards.