Quote:
Originally posted by Kimmykim
The problem with that Hair, is that Verified by Visa was not operational when all this came to pass.
Verified by Visa does not stop rebilling by the way...
and the banks are being very cagey in explaining just what VbV means to the consumers. Bank of America is trying to get people to register their cards now but there is no wording regarding chargebacks anywhere you'd prominently notice it.
A bit of a disclosure trick they've learned from adult perhaps.
|
It doesn't stop it, but it doesn't allow it.
The 9-digit PIN code assigned to the customer is never given to the merchant. The number is seen by the bank only. Therefore, a merchant can not do rebills through Verified By Visa. Without that PIN code, you can't use their service.
I specifically asked Visa what it meant to a merchant like myself, and they told me I would not receive chargebacks with the reason of "I did not place this charge" IF I used Verified By Visa; however, that only applies to password and "Internet Entertainment" as they call it.
For my video/DVD and other tangible good sales, even with Verified By Visa, I am subject to chargebacks for non-receipt of merchandise. Fortunately I use UPS and require a signature on each package which has saved me on the only 2 chargebacks I ever received for non-receipt of merchandise.