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Processing plastic cards by buying cryptocurrency.

With proper work, the percentage of chargebacks is no more than 3-4 percent. All sums of chargebacks are minus from the merchant's money. In this case, this business lives even very well) I know PSPs who have been working in the market for more than 8 years.

That's clear. And what would happen if your merchant decides to close his Forex project and invest in his good life, instead of reversing deposits to their customers? It might very well be PSP with 8 years history, but I am sure they select clients with older history than themselves.