Not having a process for chargeback removes buyer protection. This will make people risk averse and only deal with big and trusted companies like Amazon and Flipkart.

But in the US, I give my card to many small businesses knowing that I've chargeback as a tool. The businessess also ensure quality and delivery timing because payment processor is closely monitoring their chargeback rates.

One friend told me that in India, banks can freeze your account without a court order, I am not talking about a loan or credit card default.

Sending money is never free, there is always a cost associated with the activity. So which exact transaction is free?