Earlier quoted context omitted.
You make good points on paper, but in practice (in my own life at least) I’ve almost never needed to reverse a transaction where the merchant couldn’t do it himself. And the one time I had a dispute, Visa claimed that the transaction was out of policy somehow (timeframe, region, etc) So no, that better alternative doesn’t favor the customer
The existence of a dispute resolution system is usually enough to keep the vast majority of participants in a system honest. In the case of card payments, merchants incur a fee for every transaction reversed through the card scheme, whereas voluntary refunds are essentially free. They are accordingly incentivized to understand and follow the scheme rules. > And the one time I had a dispute, Visa claimed that the tran…
Re: Fake Tesla, Apple stocks have started trading on blockchains
#361Yeah, basically everything you've said is the details of what I meant. Why is this often overlooked? Why is it taken at face value that a central clearinghouse (or similar) is bad??