Quote:
Originally posted by scoreman
I hope what is addressed next is the chargeback and fraud issues. As it stands right now, the card associations pass all online transactions that are chargebacks or fraud onto the seller. For most of us the cost is primarily bandwidth, but for those dealing in tangible goods like videos and magazines they get screwed out of the goods, the shipping, and they get a nice fee from the credit card companies on top of a complete revoke of the transaction. The credit cards companies lose nothing, and in fact they actually generate revenue from this fraud because of the extra fees they tack on. How can it be expected that they will get serious about online fraud if they pass all the loss to the sellers and then even make extra money when fraud occurs?
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Well, at 15% a fucking pop the 3rd party billers should be eating all of this.
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