A few months ago, I was discussing with an online payment platform company, issues related to piracy of reports that we intend to sell. We're not doing print, so these will essentially be digital goods, so the ease of transfer-ability is significantly worrying. The platform service provider pointed towards something we hadn't considered, and which, according to them, is a significant issue internationally: chargebacks. Chargebacks are situations wherein customers claim that they never paid for the product, and in Card Not Present (CNP) situations such as online payments, it is difficult to prove for a merchant. The situation is worse in case of digital goods, since delivery of the product is immediate, and there is no way to recall a digital product, unless it is only being viewed within the confines of an online platform, behind a paywall. In that case, you are revoking access. A comment made by Vishwas Patel, Founder of online payment gateway firm CC Avenue, on our post regarding RBI's new online payment guidelines, reiterates that. He said: Verified By Visa and MasterCard Securecode helps a merchant more than it causes concern. It effectively takes away the liability from the merchants heads of Chargeback for the reason of cardholder disputing of not having participated in the transaction. Just validating a transaction with 16 digits, Expiry date and 3 digit CVV numbers, that are so blatantly visible on any card, had given rise to a lot of fraud. Earlier, Merchants were not only losing money on chargebacks but also products as well…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...