Hacker News new | ask | show | jobs
by stef25 1222 days ago
Check out Paxful. Last time I properly looked at it there was a huge amount of African "vendors" who would trade any giftcard imaginable for BTC. Giftcards being basically anonymous cash, I can't imagine how much criminal activity must be going on there.

The owners also keep going on about saving Africa https://paxful.com/assets/images/about/bwb.jpg?v=1675941877

1 comments

The difference is that here in the giftcard industry, we want to stop that, because it's how scammers convert grandma's $500 in itunes giftcards into actual money, and that costs our companies money in fraudulent transactions and public goodwill. We've had customer support agents actively talk customers out of buying giftcards for scams.
> The difference is that here in the giftcard industry, we want to stop that,

Do you guys really? I mean "you guys" generally, not you personally.

It doesn't seem that way to me. If the gift card industry really wanted to curb this shit, it would be a simple matter to abolish all high-value denominations of gift card and forbid purchasing more than one a day. If Gran wants to buy a birthday gift for her grandhchild, a single $20 gift card should be more than sufficient to show her love. There is no reason to allow her to buy 10x $500 cards in one day. Only tiny fraction of the population could afford to be doing something like that legitimately, virtually all such sales are people being tricked by scammers, yet the high denomination gift cards still exist despite your industry's supposed care.