Ban Venmo From Sythe

Risk vs Reward

That's the tl;dr

Is banning Venmo going to cause more harm to sythes market then letting it be used.

I firmly believe it is going to cause more harm letting it be used, and considering out of the 2 of us I'm the trader, I would hope my thoughts on the issue would warrant serious consideration.

If I didn't think it was worth banning it, I'd be using it myself to get customers except its ILLEGAL TO DO SO.

Letting a payment method that can be instantly reversed used by nothing but randoms(as no shops can use it) is begging for disaster.

 

I'm actually all for banning this, or at least putting out the warning that it's unsafe. It's poor practice to leave this up as a payment option on the site when it's guaranteed to be unsafe.

PayPal has risks, but it's also the most well-established and universally used form of payment for online markets. Venmo is rarely used at all, and I'd be willing to bet most that use it do so for the reason that Bus posted.

Get rid of it.

 

it is a simple decision to ban this method, its not even hard to see why.

 

If we ban this method we should be banning account selling as well to stop the 95% of account sales that end up in a recovery.

 

did you not read clearly what their customer support said?

 

Who cares what their customer support says? You're talking about banning it because the person who sends the money can easily retrieve it back.

This is analogous to account sales. What aren't you understanding.

 

How is an incredibly small, new and unsafe payment option analogous to a section of the market that has been a cornerstone of the site since its creation? Using your logic this would make Venmo analogous to the entire market on Sythe.

Almost everything can, in a sense, be taken back. This doesn't excuse allowing blatantly unsafe practices to enter the market without fair warning or attempts to stop it from happening.

 

A cornerstone of the website is implementing a free market.

And no, not almost everything can be taken back. There's a reason why 07 GP and BTC are highly traded and regarded on this forum. There's also a reason why when people sell things on here they say "I'll accept Paypal from trusted users only". This is no different from saying, "I'll accept Venmo from trusted users only". It's really not hard to see why banning Venmo won't really accomplish much. Also, just because it's small, new and unsafe doesn't mean it can't be used.

 

Agreed - banning venmo would just be limiting the market, but a warning is definitely necessary. Let's say a trusted buyer wanted to pay for a product via venmo and the seller was fine with accepting it. Why shouldn't they be able to make this transaction?

On another note, if said ban went through, what kind of repercussions would buyers/sellers face for accepting/offering venmo as a payment method?

 

Sellers aren't allowed to use Venmo so this scenario shouldn't happen.

It's a violation of their TOS and can have u perm frozen/locked/limited on Venmo.

No selling is allowed for ANYTHING REGARDING VENMO.

Nothing.

 

Stop acting like Sythe has to comply with other company's terms of services, holy shit.

You literally sell RS gold when Jagex tells you that you're not allowed to do that.

 

I'm not sure if banning it right away is the solution, (but it definetly could be) but I can attest that it is an unsafe trading practice and there needs to be some sort of warning label to show members, specifically newer members with less knowledge, that this method is least recommended due to the risk of reversal.

 

Nah, this is a free market, people can trade however they want. I personally use venmo, and there's people here that I would trust payments from, people just need to be more educated in payment methods when trading.

 

Nope, don't support the restriction.

If I want to take Venmo as a payment option from someone I will. How easy it is to chargeback doesn't have to do anything with it.

Whether Venmo supports merchants doesn't have anything to do with it. PayPal doesn't support BTC transactions but I use it for that anyway.

 

Ban it. There's no reason that people who currently use Venmo can't use a different payment method.

 

If I may ask, how exactly can Venmo transactions be so easily reversed?

 

i was gonna ask the same thing, I'm pretty sure it's similar to paypal's unverified thing but not 100% on that

edit: I know I made u that sig a while ago lol but here's the speed cleaned up a bit, less choppy

 

Free market. if someone accepts something without doing the research it's their own fault. If I offered you a million Turkmenistan dollars would you take it without checking conversion rates? no.

 

I don't see how this is a huge risk for sellers, considerng Venmo doesn't offer any buyer protection services, so how could you reverse a payment once you have made it...?

 

Because Venmo is essentially friends and family, the ability to say you accidentally sent the payment or compromised is much more believable (or just carries a larger weight)

But if a seller decides to take it, just know that there is no dispute process - and buyer will always win a chargeback