[thelist] Explaining Payment Processing

Keith cache at dowebs.com
Wed Jun 22 12:25:48 CDT 2005

>    Wow.  So you'd seriously have to call this person and have them fax 
> you records of the travel expenses they charged to another credit card or 
> paid with traveler's checks?

If those receipts existed, but on a web sale they don't.

>    And I thought they just screwed the consumer.

Joe steals John's Visa card. Joe buys something from me with the card. John 
complains a month later that he did not make the purchase.  Visa credits 
John's account. Does the saga end there? Hardly. Did the money come from 
Visa? No. Visa does a chargeback on me, the merchant. Does it end there? 
Again no. Visa charges me a chargeback fee. Credit card theft does not cost 
Visa, it's a revenue stream for Visa. It's always the merchant who pays the 
bills. It's called "cost-of-doing-business".

cache at dowebs.com 

No virus found in this outgoing message.
Checked by AVG Anti-Virus.
Version: 7.0.323 / Virus Database: 267.7.11/26 - Release Date: 6/22/2005

More information about the thelist mailing list