Credit card companies still charge merchants "charge backs" on bad transactions, because managing a virtual integer is so "hard" for them. By contrast, the post office returns an entire physical package to you if it cannot be delivered, and doesn't charge you anything for that.
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Oh, indeed. But partly that’s because merchant led fraud doesn’t make financial sense because of the chargeback fees and the fact that card processors typically withhold funds for new customers (so you can’t easily avoid the fees).
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I totally agree about the poor security, and actually, chargeback fees are a perverse incentive in that regard, because they’re shared with the issuing bank (who gets to make the final decision about chargebacks). That is, banks can actually profit from fraud.
End of conversation
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