Consumer Protection

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

Derrick deliberately put his phone on the table in his living room. He was screen casting 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 added 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 period in 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 for a smartwatch online. His friends had been around, and he had wanted to show them how cryptocurrencies were much better for online payments. Whatever had transpired was something they used anytime they came to visit him. The first question was, “has it arrived yet?” Two years had passed but it had never arrived. A lesson he had learnt early enough. 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 that was proof they had received it, but for him, he hadn’t received what he had ordered for.

Today, was going to be his day of having 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 providing 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 icing of it all, he had consumer protection to boot while still being completely decentralised. If the good wasn’t
delivered or was of poor quality, he could dispute the charge via the merchant token portal and the chargeback procedure begin and if it was found to be true, his funds would be deposited back into his wallet. The peace of mind and comfort of knowing his back was covered in online purchases using crypto was a game changer, and he knew his friends would be impressed.

He knew as much as some of them laughed, he knew they had some secret stories of being scammed since some had 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 had delivered worry-free shopping experience using crypto.