Re:Wirecard CEO exits as search for missing billions hits de...
by stickfigure on Friday June 19, 2020 @12:51PM
(#23576250)
This varies quite a bit. I was the CTO of a very large porn site in the mid-2000s and our chargeback rate was tiny - a small fraction of a percent. That fact didn't help us avoid high-risk categorization, though.
Re:Wirecard CEO exits as search for missing billions hits de...
by Throwawayaerlei on Friday June 19, 2020 @07:59PM
(#23580186)
The only time I've ever suffered from "stolen id", not even cards or accounts, was with an online porn company that sold the account in arrears to a collections agency. The agency even admitted they had nothing linking me to the transactions other than my name, but demanded I pay up. A stern letter fixed the problem from my end.
Huge number of chargebacks. A previous employer of mine had a subsidiary that handled premium rate SMS and phone call billing, a lot of which was adult services. You'd see a huge amount of contested charges, for reasons such as:
* Buyer's remorse (get drunk, wake up the next day, realise you spent $500 on porn)
* Unsupervised minor - your kid "borrows" your credit card for some online "research"
* Outright fraud - stolen cards, etc.