Quote:
Originally Posted by EukerVoorn
All payment processors are suffering from chargeback paranoia. If you want free porn you just sign up to any site using your credit card and when you're finished downloading everything you contact the payment processor and say: do a refund now or I'll do a chargeback through my bank! I never was with CCbill, what they did sucks in my opinion but all other processors would do the same thing. I can't wait till the whole credit card system gets replaced by direct bank debits worldwide.
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1) One of the main benefits using a card processor is to have them look over the chargeback ratio. If I go over 1% on a merchant account, I'm fucked! With a third party processor I can always make up a plan to go below 1%, or even continue over 1% if they are nice and make money from my business. Chargeback paranoia is something I DEMAND that my processor have, then I feel safe.
2) And the whole credit card system will be replaced by direct banking? Wow..you really think that will happened? So if that is true..what do you think will happened when fraudsters need to find a new business model and phishing sites are starting to grow up everywhere and compromise your direct banking? Let me tell you: chargebacks! And you will be in the same position as you are now and hope for a new system that will save the world...
Personally in a near future I don't think it will be possible for an online business to get an direct merchant account with a bank due to all risk,compliance and international KYC. I bet you will only see third party processors out there... paypal, worldpay, bibit, google etc... and they will fight to have control over their chargebacks, even if it's credit card or direct banking chargebacks..... adopt :2cents:
ccbill definitely did the right thing
