Re:Visa, Mastercard mull increasing fees for processing tran...
by cwkoss on Friday February 15, 2019 @05:27PM
(#19175303)
Cryptocurrency is great for merchants doing online transactions. Once you have funds in your wallet, customer can't claw them back except with the explicit action of the merchant.
Is it much easier for merchants to scam? Definitely! But it also allows merchants to trust that funds will never disappear with no recourse.
For example I've sold many thousands of copies of my digital courses online. Never had any type of problem.
Today I got a taste of my first Stripe dispute.
The customer signed up, bought the course, watched some of the course, never contacted me, disputed the charge for unknown reasons, Stripe notified me for evidence, I sent evidence of everything they asked for, weeks later I lost the dispute with no feedback from anyone, on top of everything I was charged an extra $15.00 by Stripe as a "dispute fee".
In other words, I got completely screwed with no chance to do anything and the banks and Stripe made a profit off an arbitrary dispute charge.
To make matters even worse, after talking to support, I asked Stripe to send me a screenshot of the images I provided them as evidence and it seems Stripe manipulated the images I uploaded as proof by shrinking them to be completely unreadable. So basically I'm penalized because Stripe tampered with my evidence.
The system is completely broken.