Back in mid-May, Square quietly launched a landing page for a feature that helps small business owners create contracts that protect them from buyer chargebacks and other credit card disputes. It hasn’t publicly announced them yet, but in an interview, Square told The Verge why it launched these contracts, which will be promoted to business owners starting in August.
Kay Feker, Square’s risk program manager, noticed earlier this year that customers were increasingly asking for money back after a successful transaction. Even if they were satisfied with several home repairs, for instance, they would protest the final transaction and the business owner would have no real choice but to return their money as a result.
“These days with the...
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