51–60 of 280 posts
Why does the US still accept hand-typed cards? My friend had a USB smartcard reader in like 2001. He'd dip his AmEx to perform a transaction on his PC. It's twenty years later and the industry still hasn't caught up? What's different about Europe that they seem to have figured this out decades ago?
I've lived in Europe my whole life and I've never made an online payment with a card reader (even though my ThinkPad has one), or know anyone who has.
If you are a foreign company accepting payments from the USA, you should simply expect this as a cost of doing business. Credit card fraud here is socialized. The end consumer is never liable, and so we don't bother with chip and pin, 2FA, 3D secure or whatever else. If we notice a suspicious transaction we simply tap a button in the bank's app and the charge is reversed in minutes. Banks and payments processors are…
And that is in addition to the outrageous fees CC companies charge merchants. In the US it's typically around 2% of the transaction! The EU caps it at 0.3% maximum, which still seems like a lot when you consider how much money they move. That's another cost that gets socialized and passed on to the consumer of course, even shoppers who pay cash have to pay for this through higher prices. People should know btw that w…
Are device passcode and app biometrics insufficient security measures in the event of device theft?
If you are a foreign company accepting payments from the USA, you should simply expect this as a cost of doing business. Credit card fraud here is socialized. The end consumer is never liable, and so we don't bother with chip and pin, 2FA, 3D secure or whatever else. If we notice a suspicious transaction we simply tap a button in the bank's app and the charge is reversed in minutes. Banks and payments processors are…
And that is in addition to the outrageous fees CC companies charge merchants. In the US it's typically around 2% of the transaction! The EU caps it at 0.3% maximum, which still seems like a lot when you consider how much money they move. That's another cost that gets socialized and passed on to the consumer of course, even shoppers who pay cash have to pay for this through higher prices. People should know btw that w…
Why does the US seem so far behind when it comes to banking? - Chip and PIN has been in the UK since 2004 and mandatory since 2006. It wasn't until a decade later that the US caught up. - Faster Payments allow for instant bank transfers (usually) between any bank account for free. Receiving transfers from clients in US (even with a US Wise bank account) was always a nightmare. - Since the EU introduced Strong Custome…
Why does the US seem so far behind when it comes to banking? - Chip and PIN has been in the UK since 2004 and mandatory since 2006. It wasn't until a decade later that the US caught up. - Faster Payments allow for instant bank transfers (usually) between any bank account for free. Receiving transfers from clients in US (even with a US Wise bank account) was always a nightmare. - Since the EU introduced Strong Custome…
The US has literally thousands of small regional banks across 50 fairly independent states.
Rolling out major new technologies in that environment is far far harder.
Earlier quoted context omitted.
I don't know why I see this type of invalid speculation so often. The author already responded that they reviewed the script and didn't post any sensitive data, so won't add more to that. I'd just state that tons of us use ChatGPT effectively and never blindly trust the outputs - for me ChatGPT is a starting point, not the final product. We're not all so daft as that lawyer who cut and pasted hallucinated case refere…
100% agreed, this is how I always treat it and working on the problem from the article was not an exception from this rule. I share minimum input, and never trust the output blindly. It gets 50-60% of work done, and a really good basis for me to work on it. Especially when working with one-off, end-to-end relatively short scripts.
Has Stripe Radar improvements slowed down or have fraudsters gotten better?
Isn't this solved with 3-D Secure ? Many websites (at least in the EU) implement it and if mandatory, it's impossible to buy something without 2FA (either by SMS, phone app, ...)
"banks (usually American ones) will happily accept transactions that have incorrect full name, invalid CVV / CVC, wrong expiration date, only partial billing address provided, with incorrect ZIP code. All of the above is still not enough to trigger a 3D secure authorisation" The solution indeed is to write manual rules to trigger 3D secure.
Isn't this solved with 3-D Secure ? Many websites (at least in the EU) implement it and if mandatory, it's impossible to buy something without 2FA (either by SMS, phone app, ...)
Don't expect speed or creativity in the US banking sector.
What was most surprising about this is not the fact that there is a group of people exploiting Stripe’s payments, but that the author had ChatGPT write a script to automatically handle payments processing, specifically for chargebacks. And based on the context in the article, the author sounds like they lacked the technical skill to write or validate these scripts themselves. This author is jumping out of the frying…
Feels like a mischaracterization tbh.
He had it make a script to go through and accept the chargebacks for these accounts, not handle payment processing or do anything to the chargebacks other than click "accept" essentially.
> And based on the context in the article, the author sounds like they lacked the technical skill to write or validate these scripts themselves.
I also don't really get where you're getting that from.
The author even said
> I reviewed all of the scripts carefully, and also never shared any customer data, IDs, or API keys. I think I saved at least a couple hours compared to hand-rolling these tools manually!