23 Feb
2006
23 Feb
'06
3:06 p.m.
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.
PayPal has a different revenue model, and a different
set of biases.
They also have to deal with restrictions imposed by credit card
transactions. As a result, PayPal is much more biased toward the
buyer.
I don't know how you can have an auction process for relatively
low-cost goods while keeping transaction costs low AND incorporating
some kind of dispute resolution or escrow service. Good, fast, cheap;
pick any two.
It's even true of any mail order business: Customer says they opened
the box and it was full of packing peanuts and a chunk of wood, not
their computer part. What happens?
- John
23 Feb
23 Feb
8:28 p.m.
John Foust wrote:
It's even true of any mail order business: Customer says they opened
the box and it was full of packing peanuts and a chunk of wood, not
their computer part. What happens?
The sliding beads got lost in the peanuts again. Keep looking.
You get what you pay for so if it is too good to be true it often is.
- John
26 Feb
26 Feb
4:31 p.m.
On 23/02/06, John Foust <jfoust at threedee.com> wrote:
At 09:57 PM 2/22/2006, vrs wrote:
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
> >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.
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bfranchuk＠jetnet.ab.ca -
jfoust＠threedee.com -
williams.dan＠gmail.com