Quote:
Originally posted by archer
and as to puremeds quote above... as a canadian why would setting up a 'presence' in the US with all the tax ramifications show that I am cabable of running a business? we can set up corporations here in our little igloos too, you know.
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What I meant was by making it more expensive and by regulating the market by reporting high CB sites, it weeds out fly-by-night operations, especially the ones that are 'scammy'.
I think we can agree that it was almost to easy to gain the right to process credit cards. Yes it is easy to set up shop here in the states, and it has nothing to do with your capabilities to run a business, but it does show that you take the responsibility of running a site seriously. I agree it sucks but I think the true point to all of this is to simply get rid of the smaller entities which are cause the highest % of problems for visa.
Third party processing was initially used to loophole the system and allow anyone pretty much to process credit cards. I am sure third party processing will be around for a long time as well. The nuice is just getting tighter.
I have a merchant account and this news scares me as well. I cannot fall back on a third party processor if I fail at maintaining my own account. This news only encourages me to run my business better and that would be visa's objective.