[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".
Keith
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