From a consumer standpoint, it's a decent thing. But from a merchant perspective, it can be nightmarish for companies that experience chargebacks. When I ran a retail company, the CC processor had complete control over my business. They could withhold thousands of dollars in payments due to chargebacks (or the fact I fit some chargeback risk profile, and they did) and I'd struggle to pay rent and salaries. It's not a good thing to give all this power to CC companies and processors.
