** Breaking VISA News (March 31, 2004): 3rd Party Processors are History

It means nothing to me

means nothing

It could mean the end of chargebacks... or that more webmasters lose their money when more 3rd party processors go out of business. Anyone has inside scoop on this?

weak

Sounds like a good move.... Means Visa will soon be able to tell
which transactions are friendly fraud. Then we won't have to pay
chargeback fees on those transactions. Our chargeback limits will
be smaller but only by the percentage that Visa calculates as
friendly fraud.

-Ben

i like how they mispelled the word "merchants" in that article, very pro..!

Can anyone say "April Fool's"???

haha, you people are too paranoid.

Don't believe anything today lol

Some other resource-page did this last year too.

Maybe that's why they announced it yesterday/today... so nobody would take it seriously.

I don't see it on any other sites. Looks like someones gone to
some effort to actually make a pretty decent april fools. Although
it's not very scary....

Apart from the central database which FTC would probably frown
on it's pretty much the kinda thing Visa would like to do. They
don't know what percentage is friendly fraud, so in the meantime
we pay the costs and they guess the percentage and adjust our
total chargeback limit.

-Ben

When was the last time that anyone heard anything directly from Visa? Uh, that would be never.

So is that bullshit or not?

the processors are silent... makes u wonder, eh?

Its no bullshit, major processor have a meeting today

It's total bull shit.

April Fools.





-Rand

what he said

Good thing if it'S true . They will bring everything together so that will cut the online scamming a lot

is this an april fools joke

sooooo true !

I don't know if this is an April Fool's joke or not, but I just got this from Verotel:

-------------------------------------------------------------------------------
Dear XXXX XXXXXX,

Verotel has an important update about an important subject:
Verotel Pro and Verotel Ticketsclub.


VEROTEL PRO WEBMASTERS, CHANGED IPSP REGULATIONS PER APRIL 1ST

Starting April 1st 2004 VISA and MasterCard require that there is
more transparency regarding larger merchants for which Verotel
processes. End-users need to know which company they are dealing
with when they are using their credit card on the Internet.
This is good for your business and ours, as it will reduce the number
of chargebacks and complaints.

The solution is that larger merchants will need to show their
company name on the descriptor portion of credit card
statements. Currently the name 'VEROTEL' shows up on an enduser's
credit card statement. Webmasters that process, on average,
more than USD 1,000 a week, have been selected in February to
become a VEROTEL PRO customer, and it is required that the webmaster's
company name is shown on the descriptor.

The affected webmasters have been notified by registered/courier
mail and by e-mail.

Please note that starting May 1st 2004, everybody can become a
Verotel Pro customer, regardless of the amount of weekly processing
volume. At that time there is a one time registration fee of
USD 1,500.00 and an annual fee of USD 250.00.

The current preselected group of Verotel Pro customers do not have
to pay any one-time registration fee -and- their annual fee is waived
until January 1st 2006.


VEROTEL CUSTOMERS THAT ARE NOT SELECTED TO BECOME A VEROTEL PRO
CUSTOMER WILL BE A VEROTEL TICKETSCLUB CUSTOMER STARTING APRIL 15TH.

Starting April 15th 2004 Verotel wants to gain more control
over its portfolio with merchants, processing for smaller websites.

That's why Verotel introduces the Ticketsclub (www.ticketsclub.com)
for all Verotel merchants, that have not been selected to become
a Verotel Pro customer. With Ticketsclub, Verotel can actively
monitor endusers that bought a subscription for your website,
reducing the number of fraudulent transactions.

All future Verotel Ticketsclub accounts stay free of charge. However,
some restrictions will be introduced:

- all members being subscribed to a Verotel Ticketsclub merchant
website should login every time at www.ticketsclub.com. That
means that that MEMBERS button link should be replaced on all
Verotel Ticketsclub merchant websites.

- all members being subscribed to a Verotel Ticketsclub merchant
website are being monitored, each time they login to www.ticketsclub.com.
The login information will be shared with all Verotel Ticketsclub
merchants in the Verotel Control Center.

- all websites, owned by a Verotel Ticketsclub merchant, should
be described more detailed in a so called 'Website profile'
by the Verotel Ticketsclub merchant.

- for all credit card, US Check, and Direct Debit Europe transactions
a non-negotiable fixed fee of 14.5% will be charged for all transactions.
There is a 1.5% surcharge for recurring transactions. Please note that
all previous discounts and surcharges will be cancelled for
Verotel Ticketsclub customers starting April 15th.

Please read the full story at:
http://www.verotel.com/new_ipsp.html

You can see on the first page of the Verotel Control Center
if you are a selected Verotel Pro or a future Verotel Ticketsclub merchant.

If you have any questions about our company policy regarding
Verotel Pro and Verotel Ticketsclub, don't hestitate to email
us at [email protected].

We thank you for your business and we hope that we both can
increase our sales and security using these new rules and
regulations.

Kind regards,



Verotel Management
Amsterdam - Netherlands

sounds pretty serious, maybe it might not be a joke then ?

It's true. Read all about it by following this link

The Verotel stuff is true but nothing new. The rest is BS.