Visa owes YOU money if you used them to process from 1993-2003

[Dravyk]

Originally Posted by Hell Puppy

Yup, this might be a littl windfall for the processors, but unless you have your own merchant account, I doubt the site owners see any of it.

The typical PSP contract calls for a percentage fee that is based on volume plus holdbacks and any penalties. They are no more obligated to pass along savings to you they might incur from a better deal from their banks or MC/Visa than any other business would be if they cut a more favorable deal with their vendors.

If you expect otherwise, ask yourself this, were you planning on passing whatever you might have been refunded back along to your customers, the surfers?

Aha! Caught you in a flaw, HP.

Surfers aren't entitled to monies back because they didn't get short-shrifted in the first place; they paid the correct amount and had the correct amount taken out. It is the sponsors -- and revshare webmasters -- who did not get an accurate tally from VISA/MC.

As for the processors, we will have to see how this is going to be handled. It's quite possible sponsors who used IPSPs will send VISA/MC their gross sales amounts and the court will direct them to pay the merchants back directly. If it does go to the processors, I have a feeling they will pay. Afterall it's pretty much only two companies this industry has to deal with now adays.