Chargebacks911® COO’s Latest Feature for Forbes
Livestreaming is, in many ways, the newest frontier for entertainment, with consumers watching hundreds of millions of hours of content every month. But, as Monica Eaton-Cardone points out in her latest feature for Forbes, the growth in streaming’s popularity presents obstacles, too.
Streamers collect revenue through a variety of sources, but most of them are susceptible to chargebacks. This once-obscure industry practice is causing huge headaches for streamers.
“Reasons viewers file chargebacks after donating can vary,” Monica explains. “For instance, a user might forget having donated, and then fail to recognize the transaction later. Or, the person might get carried away and end up giving too much, and then file chargebacks to undo their gifts.” In some cases, users may even file chargebacks as an act of malice; essentially trolling the streamer.
There are solutions being proposed; for instance, the “cheering” feature on Twitch protects streamers from chargebacks. However, what we really need are more comprehensive solutions.
“Consistent rules and procedures across different card schemes would make it much easier to distinguish abuse and develop proper responses for such cases. Until that happens, though, streamers will have to find a way to manage their chargeback situation.”