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Topic: Bitcoin wallet Bread is initiating Bitcoin purchases via credit cards (Read 129 times)

hero member
Activity: 1442
Merit: 629
Vires in Numeris
and watch all the chargeback scammers abuse that, and then after a while see bread/simplex remove that 'feature'.

haven't they realised the reasons most services don't offer credit card purchases. anyway goodluck to their profit/bottom line
This is only the matter of the margin per purchase, if they make the customers pay a margin that is high enough to cover the chargebacks (and not all of the credit card holders will start a chargeback after the purchase) they can make profit at the end. They can also ban their customers from paying with credit card after the first charegeback. Also, they can make a limit for the credit card purchases to maximize the possible loss of the chargebacks.
Of course, they can't apply a really high margin because in that case the price won't be acceptable for the customers, so it's not easy to plan and to calculate.
legendary
Activity: 4410
Merit: 4766
and watch all the chargeback scammers abuse that, and then after a while see bread/simplex remove that 'feature'.

haven't they realised the reasons most services don't offer credit card purchases. anyway goodluck to their profit/bottom line
jr. member
Activity: 56
Merit: 1
Bread, which is a Bitcoin wallet, will let customers purchase Bitcoin through credit cards and have the Bitcoins deposited into their Bread wallet following their partner integration with Simplex.
Know More: https://coinpedia.org/news/bread-bitcoin-purchases-via-credit-cards
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