Consumer Protection

The First Consumer Protection protocol on blockchain! Enables disputes & chargebacks!

Derrick deliberately put his phone on the table in his living room. He was screencasting his phone display on the T.V. He wanted to make sure they wouldn't miss seeing it when they came in. He knew they would eventually ask and he would tell them it was a wallet they were looking at. He wanted to see the shock in their eyes when he would add that he had bought the drinks and the popcorn from the local shop with that wallet. He wondered if they would understand what it meant: a time when the transaction fees for the purchase were actually cheaper than a bag of popcorn.

However, that wasn't the main purpose for his setup. Today was his day of making a statement because he remembered the ringing laughter when he had just begun dabbling in cryptocurrencies and had ordered a smartwatch online. His friends had been around, and he had wanted to show them how cryptocurrencies were much better for online payments. What then transpired was something they used every time they came to visit him. The first question was “Has it arrived yet?” Two years had passed but had never been delivered. This became a lesson he learnt early on, that Cryptocurrencies made it easy to pay for goods anywhere in the world, however there was no protection for the customer. The people who owned the site had received the funds he had sent. The transaction was verified on the blockchain and which meant they had received it, but he was left empty-handed.

Today was going to be his time to have the last laugh. The Merchant Token wallet that was being displayed on the T.V was the culmination of the efforts by the Hips company, a payment company that had started the Merchant Token project with the main aim of providing a decentralized platform for a consumer protection solution on the blockchain. Derrick could not only pay at the local store but could order from any supported merchant from anywhere in the world using the cryptocurrency of his choice, and the best part was that he was protected as a consumer by a decentralised system.
If the goods weren’t delivered or were of poor quality, he could dispute the charge via the merchant token portal, where a chargeback procedure would be initiated, and if his claim was approved, his funds would be deposited straight back into his wallet. The peace of mind and comfort of knowing his back was covered for online purchases using crypto was a game changer, and he knew his friends would be impressed.

He knew that as much as some of them laughed, they also had some secret stories of being scammed, as they had also begun buying crypto. What they were going to discover today, he thought, was that those sorts of scams were stories of the past. Merchant Token was delivering a worry-free shopping experience using crypto.