Why doesn't Visa institute peer-to-peer transaction capability?
 

Why doesn't Visa institute peer-to-peer transaction capability? Why doesn't MasterCard? Amex?

The internet is like a giant yard sale which only sort of has cash.

I'm having trouble with my PayPal account, even though I only use it to sell nonadult advertising. A delightful competitor of mine has apparently been on a reporting spree. Even though PayPal can not find one single example of a violation -- because there are none -- my account is most likely going to be closed.

I think, with their install base, PayPal should be subject to the same scrutiny and regulation as banks. I know they have their recent chump change settlement deal. I don't think $50 is going to cover the thousands I lost in rebills when they closed my biz account after hand-selling me their subscription solution. But whatever.

I don't really want to patronize a company which strikes me as crooked. But it is not really feasible to convince other people to get accounts with epassporte, given its fee structure and incomprehensible business account system. I posted here and a couple of other places a while ago looking for epassporte endorsements and not one single person posted to say they had a business account and liked it.

I'm still mulling over getting a merchant account and epassporte to make sales, but I am stumped on how to buy stuff from other people. And my nonadult business will really suffer if I can't buy anything from businesses which sell with PayPal.

I think all I am really trying to say here is ARGH! But why don't the credit card companies eat PayPal's pie? I understand adult may be high risk, but the net is chock full of people who would prefer not to use PayPal but do not see another option.

It's spelled

F R A U D

I agree, but they could make it harder to get these special VISA or Mastercards... I mean you cheat someone they know exactly who you are and can send you to jail.

Credit card companies like visa and mastercard do not risk their own money in transactions, they leave that up to banks. They just invest in other ventures and laugh at us paying high interest rates to them.

It seems to me like the credit card companies already maintain a database of information about customers. If they trust me enough to have a Platinum card, am I really that much more likely to commit fraud if they give me the functionality to transfer a dollar from one of my cards to someone else with the same brand of card?