Well this could occur with PayPal as well, especially if it's a digital good.
I haven't found a good solution yet to prevent theft on digital items, but one way of helping to prevent it would be to put part of the product online, and make it accessible only by logging in. So after a user got their refund, you could pull the plug on their online membership account and they wouldn't have access to it anymore. It probably only works for certain products though, but it's a decent solution for now..
So if you had an eBook, put the final chapter online etc.
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