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05-26-2004, 01:03 AM
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#1 |
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Confirmed User
Join Date: Mar 2004
Location: San Jose, CA
Posts: 1,341
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New Visa/MC mandatory merchant program?
I was told by my bank that's providing a merchant account for me that Visa and MasterCard have implemented mandatory merchant programs geared toward preventing cardholder Fraud and Identity theft.
So, it's like $500/year to pay to some independent security company to make sure that your site is not hackable. When I contacted another bank that I have a back-up account with - I had to drag it out of them, but it turned out to be true. Anybody else is experiencing this? |
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05-26-2004, 01:11 AM
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#2 |
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Confirmed User
Join Date: Oct 2003
Location: Cyberspace
Posts: 2,662
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sorry to inform you that your right...it is now mandatory to pay the fee which is usually between $300-$1000 per year.
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