Coins, iPhone & Payment Gateway

We heard about two stories with similar plot last week. Store merchant offers cheap price for latest mobile phone in town but turn out its without warranty, if customer want buy the phone must add $1500++ for the warranty itself. Customers only aware about this when they wish to collect their phone at the counter. One story ends up with $1010 being paid in 10 Sen and 5 Sen coin as compensation, meanwhile another story end up with begging to the knee for refund. These two stories had one thing in common, customer being forced to pay more to get the warranty for the item, one refuse and another one agree but she took the case to consumer court and win the case. The world can be brutal sometimes, buying the item as physically walk in , can be crucial decision now days. As customer, they will always look for value money on any purchases. This show buying offline or online will have its own risk. As for online shopping having payment gateway is compulsory, it will help to build customer trust and will also protect consumer at the end of the day. Protection in the sense of helping with any issue raise either during or after the transaction made. All payment gateway providers had a risk management team to monitor all the transaction and if there is any dispute activity, a payment gateway provider has right to freeze the merchant account. Risk management team will be the one who responsible to conduct full investigation on dispute cases. Payment gateway also will required the merchant to submit a copy of Business Registration with Company Commission Malaysia (Suruhanjaya Syarikat Malaysia) together with merchant application, which is it can help to confirm that they are the certified company. This is first step from payment gateway to prevent fraud activity.