2018-6-15 06:42 |
He explains that Overstock.com currently needs 40 employees running their fraud department, their main job involves the oversight of credit card payments and any potential problems that may happen from both buyers and credit card companies, alike.
Johnson gives credit (no pun intended) to Bitcoin and Ether (both accepted at overstock.com), citing that because the use of API with major digital currency exchanges (overstock.com works with Coinbase), makes accepting these currencies both cheaper and significantly easier.
He goes on to sate:
“We pay a processing fee for credit cards, and we employ about 40 people in our fraud department.
That’s a cost of doing business with credit cards.
When we take cryptocurrency, we have a very small transaction fee with Coinbase, much smaller than our credit card processing fee, and we have no fraud prevention department.
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