Getting Money Back Could Be Stablecoins’ Next Big Selling Point

Stablecoins are moving closer to mainstream retail adoption by solving their biggest weakness: the lack of consumer protection. Currently, blockchain transactions are final. If a customer pays for a product that never arrives or is victimized by a scam, there is no 'chargeback' mechanism like there is with a credit card. This new industry focus aims to build 'recallable' stablecoin systems. For retailers and operators, this is a significant development for two reasons. First, it addresses the massive risk of payment finality that has kept many merchants from offering crypto or stablecoins as a point-of-sale option. Second, it suggests that stablecoins are evolving to mimic the safety of traditional financing and credit networks. If stablecoins can offer the speed of digital assets with the protection of a Visa or Mastercard, they become a viable alternative for high-ticket consumer purchases. This could eventually lower merchant processing fees while maintaining the dispute resolution frameworks that customers expect when financing large buys.

Source: PYMNTS

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