▲ 1140 ▼ Reddit enrages users again by ditching thank-you coins and awards (www.businessinsider.com) submitted 3 years ago by L4s@lemmy.world [M, B] to c/technology@lemmy.world 200 comments fedilink hide all child comments Reddit enrages users again by ditching thank-you coins and awards::Reddit, which is still dealing with the fallout from its last controversial decision, said it plans to phase out coins and awards.
[–] procrastinator@lemmy.world 5 points 3 years ago (1 child) Can you elaborate, I'm not quite sure i understand? permalink fedilink source parent hideshow 1 child comment replies: [–] WiseassWolfOfYoitsu@lemmy.world 16 points 3 years ago So when a charge is made against a credit card, you have the option to do a "chargeback" - this is meant to be used for fraud. In this case, the argument is that Reddit fraudulently changed the terms of the program after people had already paid - being in "material breach" means they made a binding promise to provide a thing and they failed to do so. Chargebacks are really, really bad for a vendor. They lose the money, and they get a penalty fee, AND if it keeps happening the credit card processor can crank up their overall fees or even drop them as a bad customer. permalink fedilink source parent
[–] WiseassWolfOfYoitsu@lemmy.world 16 points 3 years ago So when a charge is made against a credit card, you have the option to do a "chargeback" - this is meant to be used for fraud. In this case, the argument is that Reddit fraudulently changed the terms of the program after people had already paid - being in "material breach" means they made a binding promise to provide a thing and they failed to do so. Chargebacks are really, really bad for a vendor. They lose the money, and they get a penalty fee, AND if it keeps happening the credit card processor can crank up their overall fees or even drop them as a bad customer. permalink fedilink source parent