Quote:
Originally posted by Mike AI@Feb 14 2003, 02:13 PM
I am amazed at the incopmetance of the people at VISA. How hard is it to crack down on frauds, and those who are abusing the system?
|
But don't the CC companies make money each time there's a transaction? So if there are 10,000 fraudulent transaction, they make fees. Then they make fees on the chargebacks. Then they get to charge 29% interest and say it's because the fraud rates are so high, when in reality, in most cases, they aren't out a dime - the merchant is. They have no real incentive to stop fraud, do they?