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RE: Buy SteemPower - STEEM - or SteemDollars directly from your credit/debit-card in 30 seconds!
Visa and mastercard (and all other card types, for that matter) require that all transactions be reversible in cases of fraud (and most of your chargebacks are going to be fraudulent use ). You're not allowed to accept visa and MC and just say "123 no chargebacks"
Even if you could, it wouldn't be desirable. You'd essentially be helping theives steal from innocent victims. We don't want a situation where people are getting introduced to steem by a fraudulent charge on their bank statement that they can't get off.
You make good points, but people might be happy to do cryptocurrency transactions on an at- risk basis. We already have that for the most part, de facto. If you send bitcoin to an address there is no guarantee of anything on the other end and no refunds for fraud. I have to admit it would be nice if credit cards took the hit when a crook did a cryptocurrency rip-off. However, fraud exists. According to pymnts.com, U.S. issuers reportedly lost $3.89 billion last year due to counterfeiting, which accounted for 23.9 percent of global fraud losses.
If there is fraud of any kind, including cryptocurrency purchases, why change the current policy? Fraud is fraud.
To cut to the chase, ultimately it is an underwriting problem. Who is going to foot the bill for cryptocurrency involved fraud?
The "current policy" is that any transaction is reversible if the CH claims fraud. This is card issuer policy, enforced by credit card merchant banks.
And yeah, because of that, its an underwriting problem.
If youre asking why cryptocurrency is special, its because cryptocurrency is a vulnerable target in ways that most goods are not. thats why there arent many places to buy btc this way.
That is to say, lets say tomorrow morning you have a fully functioning website where you can accept CC payments and send steem in return for them.
Regadless of the KYC you implement or the anti-fraud measures you take to prevent unauthorized transactions, (and there are a variety of them available), you will lose probably about 250K-500K in the first month to fraud.
This isnt some guy speculating. I know the people that will hit you for the most personally.
Crypto currencies like steem are far more vulnerable to fraud than physical gold (which has to be sent somewhere)
And yet I'm able to buy physical gold with a credit card. There ARE ways around this.