G2APay Advice Please | Couple of questions | Short and simple | All answers appreciated

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1. I was not aware of this information. Will be adjusting my plan accordingly.
2. Dispursements take around 14 days to clear to withdrawable balance. After that you can request a withdrawal (1% fee) and they will approve it within 5 business days. Then they will send it to the method of your choosing. Because of slow dispersement you will need a larger amount of working capital compared to PayPal.
3. Yes you can withdrawal via bitcoin but I’m not entirely sure what exchange they use when calculating the amount to send.
4. Even with slow disbursement (makes playerauctions seem fast) not worrying about dispute risk makes it worth it. I would say the only problem is many customers are unable to get approved on the platform - otherwise i would have complaints. I see no harm in adding it as a payment option, there’s no reason to not provide the most amount of options for your customers. One caution: do not do withdrawals to your PayPal account. Other merchants have seen permanent limitation to their accounts when withdrawing directly to PayPal. I suggest either bitcoin or a bank wire.

 

1. It already became active today as they have added a "reversals" tab in their system overview -> http://prntscr.com/jmpiyt

 

Is there any incentive to use G2a anymore then?

 

That's really something that you're gonna have to decide for yourself. Their fraud checks, VPN blocker, blacklist and so on is on point i bet so even if u would switch back to normal Paypal i'm fairly sure u would have to deal with 50% less chargebacks if you remain with G2A. On the otherhand they also do block off a lot of legitimate customers so idk.... Only time will tell. I made this announcement already a month ago via my own thread that G2A would change this, weird that no one noticed this. Even when talking to bigger sellers about it they were in total shock.

 

I feel like the protection g2a provided was simply unsustainable in this market. It was a great run, we will see how the update will roll out. Another thing to note, I feel like PayPal has gotten exponentially better when it comes to protecting against blatant friendly fraud. When I first started selling, a credit card dispute was an instant write off. Nowadays I feel like banks are more inclined to work with merchants and payment processors when there is a history of fraudulent behavior.

 

Already got 13 G2A chargebacks in 2 days.

 

Not sure if the "blatant friendly fraud" is a figure of speech/sarcasm? I know the ins and outs of credit card fraud from selling with paypal both physical and intangible goods. Can you tell a little more of your experiences of what has changed for you personally? For the better/worse?

Of what kind of value. I know lower amounts are less common to chargeback due to chargeback fees (for those who use their own cards). As for the victims of CC fraud chargebacks of all amounts occur. Were these chargebacks from the same User/country etc? Aka you were targeted by a carder. Or were these chargebacks totally random as I know you have tonnes of sales?

 

Totally random ranging from 25 to 100 dollars per chargeback <3.

 

Friendly fraud is when a customer got the item but defrauds the merchant by claiming they are not satisfied/did not receive the product to obtain a refund. Since most merchants assumed that G2A protected them from chargebacks, they allowed customers to purchase as much as they want, whenever they wanted, and from questionable sources. If the merchant was still accepting payments on a traditional payment processor they would be stricter when it comes to risk mitigation. Overall, I feel like the introduction of G2A Pay has created an atmosphere where merchants will do anything to make a sale, without regard to the wellbeing of other market participants. As G2A updates their ToS and holds merchants responsible for their callous behavior the market will once again transition to a higher margin pricing model where a few market leaders will capture the majority of the business due to increased risk of ruin from disputes.

I believe the removal of chargeback protection will result in merchants being more careful when they are selling gold. Now we are responsible for the chargebacks and will plan accordingly. We need to take this as a lesson that long term sustainability isn't possible unless we consider each participant in this industry.

 

Ahh that makes sense and yeah back in the DDIS days many agents were "yoloing" deliveries due to the similar sense of security (or 'insurance') offered in full favour of the merchant.

We will still get G2APay but thanks for the info, Kaii and yourself have pointed out some points, some I was aware of but needed somebody else to confirm, and some I haven't thought of. Really appreciate your time, thank you

 

Just got word from G2A they DO NOT even blacklist IP's, Paypal emails or Payer ID's. This would mean that a customer could just pull off chargeback after chargeback without ever getting blocked (unless a site employee blacklists their IP from their site, but that's not hard to get around for a scammer).

Makes sense for them to do this because a lot of shops sell games or keys so it sometimes happens that a customer doesn't receive their product. No reason to blacklist them for that as their next purchases will most likely be legitimate ones. However in the RS industry this doesn't go well as 95% of the time if someone opens a chargeback he has malicious intent and is not just reporting an issue.

We already decided to switch to normal acceptance for Paypal as of today. Imo when G2A started offering this to Runescape gold sites (i remember agents going around in live chats offering the G2A service) they really and i mean REALLY underestimated how much scammers are active in the Runescape market.

 

Kaii, in a perfect world, how can chargebacks as a whole not be a thing in the future of RS blackmarkets?

 

By Paypal protecting sellers of virtual goods more but they wont. Virtual goods is something that can be easily faked, delivery wise. Physical goods is harder to fake. A tracking number is a tracking number, it goes by a legit delivery service. On top of that, most chargebacks are creditcard ones and Paypal wont fight a creditcard company. So there's no bright future for Paypal acceptance in the RS market. G2A and their chargeback protection was good but i already said this when they first announced this and the first gold sites started using G2A, that G2A will do this for max a year and they will notice how much money they lose due to chargebacks. It's been a year and a half i think so i'm still pretty close in my estimations. Unless another company comes of with a resemblance of service that G2A had to offer chargeback protection wise, there really is no perfect world and perfect future for completely removing chargebacks.

On the bright side, crypto is making an uprising so it would be nice if more transactions go via crypto.

 

Just to add

I've said it several times on sythe that there is no way to protect yourself 100% from chargeback fraud. Instead of never getting started due to this reason (which is what i did for many years), it's better to put some big boy pants on and accept that fraud is a real issue, and there's no magical perfect solution when it comes to paypal. It's better to accept the risk, and just try focus on more sales.

 

I know this is a bit off-topic with G2A however theres a few things to point out.

As you have been speaking about this quite a lot, both on a personal level and publicly, you are going to China very soon. Although something important to mention about this is the multitude of Chinese payment mechanisms that they have which actually has no risk of chargebacks whatsoever such as WeChat (s/o to @epicmmoservice for the information as well).

Additionally I think it's important to consider the fact that some payment methods carry a lesser risk of chargebacks as opposed to other ones i.e. if sending cash via WU, it is impossible to have that money refunded.

TLDR: If some of these chinese payment methods i.e. WeChat came worldwide, that could definitely help as well.

People are too focused on the PayPal payment method rather than alternatives that could potentially be brought to a global scale.

 

Don't make statements if they aren't 100% true, please. WU is very much open for chargebacks, but only for as long as the money hasn't been withdrawn yet. If you walk out the door cash in hand, then it's safe and they aren't going to bust your door in to get it back. There have been numerous cases here on Sythe of people cancelling the WU transaction before pickup after they received the gold or service.

 

That statement is 100% true? If I said WU in general is impossible to chargeback then that is false. Also, who delivers gold/services without receiving their WU payment first? I mentioned the use of "cash" for a reason. There is clearly a reason as to why there are only a limited amount of merchants receiving and/or sending through WU in the first place.