code API
BANNED - Failed to resolve a dispute
- Oct 20, 2018
- 6,377
- 3,517
Not exhaustive but eye-opening enough to not put your business in crazy charge-back debt.
Popular payment gateways
PayPal - don’t even go there. PayPal sucks 100% and here is why
PayPal is a terrible company for many reasons. First, they charge fees for nearly everything, including receiving money from friends and family. Second, they hold your money for no reason and it is very difficult to get it released. Third, they are constantly changing their policies and terms of service, making it difficult to keep up with what is allowed and what is not. Finally, they are very unresponsive to customer service issues and it is nearly impossible to get a human being on the phone to help resolve an issue. Fourth, they suddenly ban merchant’s accounts even with life-changing funds in them. Overall, PayPal is a terrible company that I would not recommend to anyone.
Stripe – Services and SaaS
Stripe also sucks and here is why:
Chargeback protection doesn’t cover every jurisdiction. They implemented Radar but Radar protection isn’t automatic. Yes, you have to set some crazy rules. Otherwise, you risk your business going bankrupt in the next few seconds of the product launch. Why? People suck. Some customers are so shitty that their only goal in life is to scam people and use their credit cards to purchase stuff from your site, when the real card owner discovers the transaction they did not authorize, they raise a chargeback dispute through their bank and pass it to Stripe. And guess what? 99.9% of the time you will lose the dispute in their favor.
This is called IDENTITY THEFT fraud and there is nothing you can do about it. However, you have a higher chance of winning other types of disputes over.
Once the Identity Theft problem is blocked by setting Radar rules insanely, then most of your potential fraud-related loss on Stripe is 95% over in my opinion. Here are a few Radar rules you should consider. I personally reached out to Stripe after I learned the hard way- 2 fcking chargebacks [both were identity theft]. See my https://www.blackhatworld.com/seo/fraudulent-chargeback-on-stripe-how-do-you-guys-deal-with-fraud-and-shit.1420733/.
Here is a list of Radar rules you may want to aggressively implement in Stripe to protect your business from Identity theft. Also, you may want to set your block threshold/rule to the highest- this will block payments that are deemed to have a 60%+ high-risk score.
List of 11 Radar Rules against Identity Theft:
But hey, there would be a few false positives when you implement all these rules as some legit customers might get blocked. But this is no cause for alarm. After adding all these rules, Stripe estimated my false positive rate as 7%. So Fck it! I will rather sacrifice 7% potential earnings to block all potential fraudulent chargebacks and keep my business merchant records in good standing. And kiss identity theft GOOD BYE. High-risk payment processors charges between 5%-15% anyway, so it's okay to blow 7% away on Stripe. Simple logic and that's okay.
Other payment gateways
Crypto is still the KING and always will
Why? Zero chargeback
You are the BOSS
Put your funds in real Wallets, not the exchanger’s wallets.
If you are not going to trade crypto, send your crypto coins from your real wallet to your exchanger wallet and have them converted into fiat. Thank cash out asap into your bank account. This method is especially useful to protect your funds against volatility.
There is no chargeback with crypto. When the transaction is made, it’s final. No one can call their credit card company and reverse the charge like they can with a credit card purchase. This makes crypto much more secure for merchants.
A credit card number can be stolen and used by someone else. Crypto addresses can be stolen, but they’re useless to anyone but the owner of the private key. Even if someone knew your private key, they couldn’t use it to steal your crypto because you have to confirm the transaction yourself.
If you send crypto to the wrong address, it’s gone forever. There’s no customer service number to call and get help.
This might seem like a bad thing, but it’s actually a good thing. It protects you from fraud because there is no way to reverse a transaction.
If you send crypto to the wrong address, it’s gone forever. There’s no customer service number to call and get help.
This might seem like a bad thing, but it’s actually a good thing. It protects you from fraud because there is no way to reverse a transaction.
Some people think that the lack of chargebacks is a bad thing because it means that merchants can’t get their money back if they’re scammed. However, the lack of chargebacks is actually a good thing because it protects merchants from fraud.
If a customer claims that they didn’t receive their product, the merchant can simply provide them with a tracking number. The customer can’t claim that they didn’t receive the product because the blockchain shows that the product was delivered to their address. This protects merchants from fraud and makes it much easier for them to do business.
What are the benefits of using crypto?
There are many benefits of using crypto. Some of these benefits boil down to the fact that:
Now what? Easy-peasy. The real way to go is CRYPTO + CARD gateway which has decent chargeback protection enough to not put your business in debt. Paddle your canoe baby.
What payment gateway are you using?
Popular payment gateways
PayPal - don’t even go there. PayPal sucks 100% and here is why
PayPal is a terrible company for many reasons. First, they charge fees for nearly everything, including receiving money from friends and family. Second, they hold your money for no reason and it is very difficult to get it released. Third, they are constantly changing their policies and terms of service, making it difficult to keep up with what is allowed and what is not. Finally, they are very unresponsive to customer service issues and it is nearly impossible to get a human being on the phone to help resolve an issue. Fourth, they suddenly ban merchant’s accounts even with life-changing funds in them. Overall, PayPal is a terrible company that I would not recommend to anyone.
Stripe – Services and SaaS
Stripe also sucks and here is why:
Chargeback protection doesn’t cover every jurisdiction. They implemented Radar but Radar protection isn’t automatic. Yes, you have to set some crazy rules. Otherwise, you risk your business going bankrupt in the next few seconds of the product launch. Why? People suck. Some customers are so shitty that their only goal in life is to scam people and use their credit cards to purchase stuff from your site, when the real card owner discovers the transaction they did not authorize, they raise a chargeback dispute through their bank and pass it to Stripe. And guess what? 99.9% of the time you will lose the dispute in their favor.
This is called IDENTITY THEFT fraud and there is nothing you can do about it. However, you have a higher chance of winning other types of disputes over.
Once the Identity Theft problem is blocked by setting Radar rules insanely, then most of your potential fraud-related loss on Stripe is 95% over in my opinion. Here are a few Radar rules you should consider. I personally reached out to Stripe after I learned the hard way- 2 fcking chargebacks [both were identity theft]. See my https://www.blackhatworld.com/seo/fraudulent-chargeback-on-stripe-how-do-you-guys-deal-with-fraud-and-shit.1420733/.
Here is a list of Radar rules you may want to aggressively implement in Stripe to protect your business from Identity theft. Also, you may want to set your block threshold/rule to the highest- this will block payments that are deemed to have a 60%+ high-risk score.
List of 11 Radar Rules against Identity Theft:
Code:
Request 3DS if 3D Secure is required for card
Code:
Request 3DS if 3D Secure is recommended for card
Code:
Request 3DS if 3D Secure is supported for card
Code:
Block if :risk_level: = 'highest'
Code:
Block if payment matches one or more values in default Stripe block lists
Code:
Block if :is_disposable_email: and :is_anonymous_ip:
Code:
Block if :risk_level: = 'elevated'
Code:
Block if :dispute_count_on_card_number_all_time: > 1
Code:
Block if :dispute_count_on_ip_all_time: > 1
Code:
Block if CVC verification fails
Code:
Block if Postal code verification failsBut hey, there would be a few false positives when you implement all these rules as some legit customers might get blocked. But this is no cause for alarm. After adding all these rules, Stripe estimated my false positive rate as 7%. So Fck it! I will rather sacrifice 7% potential earnings to block all potential fraudulent chargebacks and keep my business merchant records in good standing. And kiss identity theft GOOD BYE. High-risk payment processors charges between 5%-15% anyway, so it's okay to blow 7% away on Stripe. Simple logic and that's okay.
Other payment gateways
- 2checkout – Services and SaaS
- PayOP – Services and SaaS
- Wise – Wire, freelance
- Payoneer – ACH, wire, freelance
- Paddle – for SaaS
- Coinbase – for Crypto
- Shoppy – for Crypto
- High-risk payment gateway
Crypto is still the KING and always will
Why? Zero chargeback
You are the BOSS
Put your funds in real Wallets, not the exchanger’s wallets.
If you are not going to trade crypto, send your crypto coins from your real wallet to your exchanger wallet and have them converted into fiat. Thank cash out asap into your bank account. This method is especially useful to protect your funds against volatility.
There is no chargeback with crypto. When the transaction is made, it’s final. No one can call their credit card company and reverse the charge like they can with a credit card purchase. This makes crypto much more secure for merchants.
A credit card number can be stolen and used by someone else. Crypto addresses can be stolen, but they’re useless to anyone but the owner of the private key. Even if someone knew your private key, they couldn’t use it to steal your crypto because you have to confirm the transaction yourself.
If you send crypto to the wrong address, it’s gone forever. There’s no customer service number to call and get help.
This might seem like a bad thing, but it’s actually a good thing. It protects you from fraud because there is no way to reverse a transaction.
If you send crypto to the wrong address, it’s gone forever. There’s no customer service number to call and get help.
This might seem like a bad thing, but it’s actually a good thing. It protects you from fraud because there is no way to reverse a transaction.
Some people think that the lack of chargebacks is a bad thing because it means that merchants can’t get their money back if they’re scammed. However, the lack of chargebacks is actually a good thing because it protects merchants from fraud.
If a customer claims that they didn’t receive their product, the merchant can simply provide them with a tracking number. The customer can’t claim that they didn’t receive the product because the blockchain shows that the product was delivered to their address. This protects merchants from fraud and makes it much easier for them to do business.
What are the benefits of using crypto?
There are many benefits of using crypto. Some of these benefits boil down to the fact that:
- Crypto is fast
- Crypto is cheap
- Crypto is secure [somehow]
- Crypto is global
- Crypto is borderless
- Crypto is decentralized [somehow even tho the govt. bitch about them quite often]
- Crypto is private
- Crypto is open source
- Crypto is censorship resistant [somehow even tho the govt. bitch about them quite often]
- Crypto is permissionless
- Crypto is transparent
- Crypto is programmable
- Crypto is scarce [somehow]
- Crypto is fraud-proof
- Crypto is chargeback proof
- Crypto is digital
- Crypto is divisible
- Crypto is fungible [somehow]
- Crypto is anonymous
- Crypto is almost always instant
- Crypto is irreversible
Now what? Easy-peasy. The real way to go is CRYPTO + CARD gateway which has decent chargeback protection enough to not put your business in debt. Paddle your canoe baby.
What payment gateway are you using?
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