On 23/02/06, John Foust <jfoust at threedee.com> wrote:
At 09:57 PM 2/22/2006, vrs wrote:
> >Seconded. ebay and paypal exist for the
buyer, not the seller. I had a
> >friend sell something online for $80, then take the money out. 2 weeks
> >later the buyer claimed that "his computer was taken over by hackers"
> >and denied ever buying the item (which was virtual, ie. no physical
> >product to ship or track). paypal tore the $80 out of his account,
Welcome to credit card processing. It favors the customer not the seller.
It doesn't get any better in real life. If your business accepts
credit cards, you can bet that you'll be on the hook if the
transaction is called into question for any reason.
That used to be the case in the UK, I lost around ?850 last year on
credit card transactions being questioned and the bank favouring their
side. Now with the Pin system if the pin is correct the retailer gets
the money. The customer should not of disclosed the pin. This going to
cause problems with muggings etc. but the retailer always gets the
money.
It is also a lot slower to process transactions because evey
transaction is approved by the bank. Whereas before they would not be
checked for credit cards if the amount was under ?40.
Dan
Dan