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Chargebacks, Anti-Terror abuse in the Philippines, Myanmar journalists driven underground, etc

Neeraj K. Agrawal
Jul 10, 2020
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The pandemic is making small businesses more aware of their payment processors than ever. The sudden tightening of belts has people rethinking purchases and disputing payments. Bloomberg reports a 25% increase in chargebacks this year. 

Payment processors like Square do not want to pay for these chargebacks. So they are holding in escrow more merchant funds than usual to account for the increased risk: 

Thousands of small enterprises that use Square to process their credit card transactions — including plumbers, legal consultants and construction firms — have complained that the company recently began holding back 20 to 30 percent of the money they collected from customers. The withholdings came with little warning, they said, and Square asserted the right to hang on to the money for the next four months.

Payment processors exist because to send each other dollars online, we have to trust each other. But we don’t know each other, so we agree to both trust a company like Square or PayPal. This works out fine most of the time, with the processor as a sort of silent partner that takes their cut. 

But the processor doesn’t trust you either. And since you have to trust them to do business, they can use their position as the middleman to simply not give you your end of the transaction until they are satisfied that the risk has passed. Even if that means you can’t make payroll. 


There is a new anti-terrorism law in the Philippines. Per The Guardian:  

An anti-terrorism law that grants sweeping powers to president Rodrigo Duterte’s government is facing mounting legal challenges, as rights groups warn the legislation signals a new, dark chapter for the Philippines.

The act, which lawyers say uses a vague and overly broad definition of terrorism, permits warrantless arrests and allows authorities to hold individuals for weeks without charge. It is to be implemented later this month, though at least six petitions against the law have already been filed in the supreme court.

Here’s what has critics worried: 

Persons found guilty of the following acts will be punished with 12 years of imprisonment:

  • Threatening to commit terrorism

  • Inciting others to commit terroristic acts

  • Voluntarily and knowingly joining any terrorist group or association

  • Being an accessory in the commission of terrorism

That is very nonspecific. And with the Philippines’ track record on human rights, it seems like it will be way too easy for dissent to be branded as terrorist incitement. Meanwhile, the government argues that passing the bill is essential to keep the country in the good graces of FATF, the global anti-money-laundering watchdog. Fighting terrorism definitely sounds good, but not when the definition of terrorism is so broad. 

Also, they just shut down their leading national broadcaster for criticizing the government. 

And, they just convicted a prominent journalist for “Cyber Libel.”


In Myanmar, journalists are being forced to publish in secrecy, even forgoing bylines to protect their identity. 

Reuters reports:

Suu Kyi’s government has stressed the importance of media freedom for building democracy. Before she came to power, Suu Kyi spoke of the need for the law to protect reporters.

But her administration has brought charges against 31 journalists ranging from unlawful association to terrorism to criminal defamation since she came to power, according to local rights group Athan, and in recent months the civilian-led information ministry has blocked dozens of news websites, including DMG, accusing them of distributing “fake news” and “fearmongering”.

If the climate for free expression continues to deteriorate around the world, I think we can expect more anonymous and pseudonymous publishing. The tools to do that should be encouraged. 


Notes from the currency crisis in Lebanon: 

Twitter avatar for @La__Cuen
Leigh Cuen @La__Cuen
Lollars = dollars in Lebanese banks. These are worth less than dollars (cash or in other systems) because they are harder to move.
Twitter avatar for @OmarTamo19
Jürgen Tamo @OmarTamo19
Assume you receive an income in lollars or in lira (market exchange rate at 9000/$): Minimum wage at 675,000 LL = 75$ 1,500,000 LL = 166$ 3,000,000 LL = 333$ 5,000,000 LL = 555$ So you work around 160-200 hours for a worthless income.
5:34 PM ∙ Jul 9, 2020
23Likes6Retweets

This is interesting too. In Venezuela people want PayPal money less than Zelle money: 

Twitter avatar for @criptobastardo
Javier Bastardo🏴‍☠️🫓 @criptobastardo
@NeerajKA @La__Cuen Yes! PayPal, Skryll, UpHold, just name it... They're cheaper than zelle/cash. BTCUSD rates are cheaper too in tiny operations, but not as with PayPal.. PayPal is the bolivars of dollars lol
7:03 PM ∙ Jul 9, 2020
9Likes1Retweet

And there’s the situation in Zimbabwe: 

Twitter avatar for @NeerajKA
Neeraj K. Agrawal @NeerajKA
Zimbabwe’s currency is rapidly depreciating. It’s become hard to get dollars there. So the local stock market was booming as people exited cash for anything. Then the government shut that down, claiming the stock market is part of a conspiracy to tank the currency.
4:53 PM ∙ Jul 8, 2020
122Likes18Retweets

Both Zimbabwe and Lebanon have banned money related apps recently as well: 

  • Zimbabwe has banned all mobile money services as its currency troubles worsen

  • Lebanon’s currency is collapsing. The government’s solution? Ban exchange rate apps


I am standing up for soup tube innovation. I hope you will too.

Twitter avatar for @redditships
relationships.txt @redditships
My (25F) boyfriend (25M) keeps asking me to invest in his "soup tube" business idea, and I am not sure how to deal with it. reddit.com/r/relationship…
Image
Image
9:22 PM ∙ Jul 8, 2020
25,041Likes3,979Retweets

Think this is good? Bad? Reply to let me know.

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2 Comments
ethan
Writes ethan
Aug 27, 2020

thank u for the links

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nate
Jul 10, 2020

good

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