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RE: How to Protect Yourself From Payment Gateways
Many years ago I was a very profitable Ebay trader, making a very good living. Then all of a sudden the chargeback craze started. It made it not worth doing, because of the price of the items I was selling, just a couple of chargebacks could eat monthly profits up, and even make me lose money.
Everything I posted required a signature, but it didn't matter. Paypal would just take the money from you if there was a chargeback.
The fault lies with banks and credit card companies, they know that 90% of claims are fraudulent but they don't care, they're just happy to pass the loss onto merchants and keep their customers happy.
Which reflects some poor planning or a fault with the bussines model . I mean every merchant who is serious about his bussiness factors chargeback into the cost . The whole banks are evil , and to blame for all my woes thing is sad
bollocks.
You don't plan for getting ripped off several thousand pounds a month as an independent trader. Yes wallmart can plan for those kind of unexpected losses, not one guy on Ebay.
Yes the banks are at fault for not investigating claims and providing no way to dispute.