Quote:
Originally posted by HighRoller
Love your branded program Ron
my name is Ron also
Maybe I am reading these posts and stuff wrong, and I am sure this is shady, but sometimes rules seem weird to me.
If I understand this correctly.
As the chargebacks get too high over 1%
A chargeback will result in:
$100 fee to the paysite program owner
$25 awarded to the bank that charged back
paysite program owner obviously doesn't want to pay $100
Bank loves there $25 chargebacks
Why wouldn't the paysite owner pay off a bank $50, the bank
makes twice the bling bling, and the paysite program
owner saves 1/2 the money from a chargeback
only costing them $50.
I look at it like this, if a bank says we have to charge $25 cause we have paperwork, and employees blah blah, just say tell you what, charge me $50 and no one ever canceled with me, do we understand each other?
I'm sure that's a lot of banks and a dream, but you can see how money can talk.
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The issuing bank gets 80% of the chargeback fee - so a $100 chargeback would yield $80 to the bank issuing the chargeback.
If you know a way to bribe all the banks in the USA, you definitely know more that I
btw, great name!! LOL