We've all seen the evidence of what visa's regulations are doing to the industry,
But I've noticed very few, if any, people mention visa's responsibilities as the end authorizer on a sale.
processors send the cc# and info to the visa/mc databases to go through their 'approval' scrubbing process. The purpose of this is to cough out bad or risky transactions according to their set criteria.
If they deem the transaction as satisfactory, they issue an authorization number, if not they decline the sale. We all know and understand this.
What makes no sense to me is, if visa is having problems with scammers and chargebacks, why don't they do something to update their own techniques? The methods they use are outdated in today?s technological world but they so far have been unwilling to take the required steps to improve their own business model.
Look at what they use currently, the zip code to where the cc statement is sent and SOMETIMES the 3 digit code on the back of the card.
I'm sorry but that?s plain BS. If someone has bought a stolen card, they have also bought the 3-digit code along with it. Four minutes on the net and they can place the zip code with the name of the original cardholder. It doesn't take a rocket scientist to see their 'fraud control' is da*n near worthless.
Hell we're used to giving everything but our panty sizes on the applications for the da*n cards so why don't they just add in a few cross-reference controls? Things such as mothers maiden name and the final 4 numbers to someones SS# are already available to them but do they take the time to cross reference THOSE as control points?? NO!
Do they even TRY to add in information cross-referencing that can't be found anywhere but in the true owners? brain? NO!
They could even take 4 extra bits of info and randomize them.. If one shows up all the time and not the others it sets a flag off to fraud.
They claim they offer the option of chargebacks to protect the true card holder from stolen and unauthorized use, well if they would work a little harder on their end, most of this would be a non-issue.
Am I missing something here or doesn't the authorization number they distribute upon approval mean anything anymore? Perhaps someone should give them a dictionary so they can look up the meaning of the word.
Some of the US casinos, restaurants and hotel chains have quit using Visa; soon the porn industry will be forced out ...
Isn't the point of running a company to broaden the user base rather than thinning it out? I might be blonde but dayum if I can figure this one out.
< /rant >
*scuze me while I go iron out my wadded panties*
But I've noticed very few, if any, people mention visa's responsibilities as the end authorizer on a sale.
processors send the cc# and info to the visa/mc databases to go through their 'approval' scrubbing process. The purpose of this is to cough out bad or risky transactions according to their set criteria.
If they deem the transaction as satisfactory, they issue an authorization number, if not they decline the sale. We all know and understand this.
What makes no sense to me is, if visa is having problems with scammers and chargebacks, why don't they do something to update their own techniques? The methods they use are outdated in today?s technological world but they so far have been unwilling to take the required steps to improve their own business model.
Look at what they use currently, the zip code to where the cc statement is sent and SOMETIMES the 3 digit code on the back of the card.
I'm sorry but that?s plain BS. If someone has bought a stolen card, they have also bought the 3-digit code along with it. Four minutes on the net and they can place the zip code with the name of the original cardholder. It doesn't take a rocket scientist to see their 'fraud control' is da*n near worthless.
Hell we're used to giving everything but our panty sizes on the applications for the da*n cards so why don't they just add in a few cross-reference controls? Things such as mothers maiden name and the final 4 numbers to someones SS# are already available to them but do they take the time to cross reference THOSE as control points?? NO!
Do they even TRY to add in information cross-referencing that can't be found anywhere but in the true owners? brain? NO!
They could even take 4 extra bits of info and randomize them.. If one shows up all the time and not the others it sets a flag off to fraud.
They claim they offer the option of chargebacks to protect the true card holder from stolen and unauthorized use, well if they would work a little harder on their end, most of this would be a non-issue.
Am I missing something here or doesn't the authorization number they distribute upon approval mean anything anymore? Perhaps someone should give them a dictionary so they can look up the meaning of the word.
Some of the US casinos, restaurants and hotel chains have quit using Visa; soon the porn industry will be forced out ...
Isn't the point of running a company to broaden the user base rather than thinning it out? I might be blonde but dayum if I can figure this one out.
< /rant >
*scuze me while I go iron out my wadded panties*
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