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Tell HN: Razorpay a YC company is supporting fraudulent merchants

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Tell HN: Razorpay a YC company is supporting fraudulent merchants

#1

Post by sarathyweb »

Razorpay is an Indian payment gateway. Few weeks back I had purchased two pairs of bookshelf speakers from website. The merchant kept delaying the order and declined to refund the money.

I contacted Razorpay support and raised a dispute.

Today I got the following email from them

Hi XXX,

Thank you for your understanding.

We understand the inconvenience casued.

We request you to kindly get in touch with cyber crime division, as we mentioned in the previous emails that we can't initiate refund from our end because the merchant doesn't have sufficient balance in his account to initiate refund for your transactions.

Thank you for your understanding.

Regards, Team Razorpay

Re: Tell HN: Razorpay a YC company is supporting fraudulent merchants

#7

Post by HatchedLake721 »

That’s a bit of a stretch.

A merchant without money doesn’t necessarily mean they’re fraudulent.

And even if they are, this definitely doesn’t mean Razorpay supports fraudulent merchants.

There’s fraud everywhere, especially in finance, with rules and policies to combat that. But they’re never 100% foolproof.

Re: Tell HN: Razorpay a YC company is supporting fraudulent merchants

#8

Post by tananaev »

TekMol wrote: post #4

I don't think payment gateways should be the judges in payment disputes. What the web needs is a reputation system. So the dispute ratio of a merchant is visible to everyone.

That's a utopia. Any reputation system will be gamed. Who's going to build it and why would anyone trust it? Even things like Amazon reviews are routinely manipulated.

I think payment gateways are in a good position to take some precautionary steps, like keep some deposit, especially for new clients. They probably shouldn't be entirely responsible for any fraud though.

Re: Tell HN: Razorpay a YC company is supporting fraudulent merchants

#9

Post by sarathyweb »

HatchedLake721 wrote: post #7

That’s a bit of a stretch. A merchant without money doesn’t necessarily mean they’re fraudulent. And even if they are, this definitely doesn’t mean Razorpay supports fraudulent merchants. There’s fraud everywhere, especially in finance, with rules and policies to combat that. But they’re never 100% foolproof.

Here's the whole story https://vplak-scam.com/2022/10/08/my-awful-experience-with-v...
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