Re:Bitcoin: the Stripe perspective
by oska on Monday July 21, 2014 @11:08PM
(#8067221)
> "No chargebacks!" is a pitch to merchants for BTC, not consumers. Consumers like chargebacks & trust.
Consumers also like discounts. Merchants can return the savings from unfair chargebacks and reduced fraud as a percentage discount for paying with bitcoin. Many merchants are already doing this.
And the multisignature transaction feature of bitcoin allows for a more robust and fairer 'chargeback' feature than currently provided by credit cards, where arbitration is done by a third party who has built a reputation for fair rulings. See for example Bitrated [1].
Consumers also like discounts. Merchants can return the savings from unfair chargebacks and reduced fraud as a percentage discount for paying with bitcoin. Many merchants are already doing this.
And the multisignature transaction feature of bitcoin allows for a more robust and fairer 'chargeback' feature than currently provided by credit cards, where arbitration is done by a third party who has built a reputation for fair rulings. See for example Bitrated [1].
[1] https://www.bitrated.com/faq.html