101–110 of 117 posts
I got an Ad for a company that aims to reduce your chargebacks, I wont say who it was. Who knows if it works.
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What I don't understand is why my banking app does not show a "cancel subscription" button with the payment. When I click that button, the recurring payment is automatically canceled, and the SaaS company can check that and know that I unsubscribed. Or something along these lines. There is already a power-asymmetry between consumers and companies. This should not extend to unsubscribing. Here, the consumer should hav…
I love love love this comment. Banks are barely running on a modern stack, let alone doing anything userful within banking, and you want them to build an api to cancel an outside service? :)? Love this so much, most HN comment ever :)
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> this is extremely rare for us, but it has happened a couple of times Put punitive terms into your SLA. (Though check with a lawyer about adhering to your merchant agreement.) Charging back doesn’t cancel a contract. If you want to be vindictive, you could sell the debt to a collector.
Restatement (Second) Contracts sec. 356 would seem directed squarely at this bad idea.
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> this is extremely rare for us, but it has happened a couple of times Put punitive terms into your SLA. (Though check with a lawyer about adhering to your merchant agreement.) Charging back doesn’t cancel a contract. If you want to be vindictive, you could sell the debt to a collector.
Restatement (Second) Contracts sec. 356 would seem directed squarely at this bad idea.
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Restatement (Second) Contracts sec. 356 would seem directed squarely at this bad idea.
It constrains liquidated damages to a reasonable figure. But it doesn’t prevent them. As for selling a debt to a collector, that seems perfectly reasonable, particularly if the customer made no effort to cancel.
The problem is that a “punitive” amount of liquidated damages is neither reasonable, nor would it typically be found to have been the product of an actual estimate of the damages. See, 356 cmt. a.
If you didn’t say “punitive” in the LD provision, you’d have the “reasonable estimate” conversation but GP straight up called it a punitive clause, which is not going to fly (in many jurisdictions, ianyl, etc. etc.)
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It constrains liquidated damages to a reasonable figure. But it doesn’t prevent them. As for selling a debt to a collector, that seems perfectly reasonable, particularly if the customer made no effort to cancel.
I am acutely aware that it constrains liquidated damages to a reasonable figure. Conveyance to a collector is, of course, customary in the trade. The problem is that a “punitive” amount of liquidated damages is neither reasonable, nor would it typically be found to have been the product of an actual estimate of the damages. See, 356 cmt. a. If you didn’t say “punitive” in the LD provision, you’d have the “reasonable…
Would note that the Restatement isn’t law, but an influential guideline. As long as the punitive terms are clearly agreed to, they ought to be able to fly. (Particularly if made in exchange for money, e.g. pay a premium to opt out of punitive cancellation.)
Controversial take here. Sue your customer. No really. Banks operate on risk, make chargebacks risky. Some of these chargebacks sound like straight up fraud. Three months of usage and using their bank to reverse a payment. Make Fraud Spicy Again
The best you can really do is be large enough that cutting ties with your business entirely isn't feasible for the customer.
Does stripe not block users that have done charge backs?
Earlier quoted context omitted.
What I don't understand is why my banking app does not show a "cancel subscription" button with the payment. When I click that button, the recurring payment is automatically canceled, and the SaaS company can check that and know that I unsubscribed. Or something along these lines. There is already a power-asymmetry between consumers and companies. This should not extend to unsubscribing. Here, the consumer should hav…
I love love love this comment. Banks are barely running on a modern stack, let alone doing anything userful within banking, and you want them to build an api to cancel an outside service? :)? Love this so much, most HN comment ever :)