Sharing Daily Discoveries About Personal Finance And Business Topics

Security Features That Make You Lose Business

financial literacy

I was reading an interesting article today about a company’s payment process where for its services you need to buy currency where in-turn you use that to buy services from them. However, they have so many steps in place such as requiring one to provide a lot of real life ID’s as well as requiring people to use some of its free services first to prove they are not say a person with a stolen credit card. Essentially, this whole process will take most people about a week where most would simply say forget it.

While I am sure they probably implemented such a procedure as a result of past experiences, it does seem a little extreme. Imagine going to a convenient store where because it was robbed once the owners decided to greet customers with like a weapon pointed right at them as a form of intimation to scare off potential thieves. It’s one of those things that hurt you more than help you. Kind of makes me interested in learning if there are more far fetched examples out there.

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