VISA new chargeback/credit ratios

[cj]

Originally posted by wig@Jul 1 2003, 08:25 PM
I stepped over to the barn to feed.

Did you ride the mule yet today?!
:P

The whole problem is that they DON'T WANT US. We represent such a small amount of their revenue, but a HUGE amount of their customer service.

Visa might not want us, master card might not want us, but their customers do ... there are many people who have credit cards PURELY for buying things online ... there is a HUGE chunk of business up for grabs here, and although we may be just a small drop in the ocean of ecommerce, our industry is big enough (not just porn, all high risk online business like casino's, subscription magazines etc) to warrant a decent billing solution from a major credit card company.


And lets not forget, the only reason we have this problem is that the cc companies ALLOW & ENCOURAGE their customers to commit fraudulent transactions ... the whole thing is a trap, we must have less than 1% chargeback ratios and yet the credit card companies are encouraging people to chargeback and refund any transactions they dont want to pay for.

What's happening with the paycom/mastercard lawsuit? that's the key to our protection, but i'm nervous that its not going to achieve anything except make the general public hate pornographers even more.


I keep hearing that our industry is too small for the big cc companies to care about, and yet a few weeks ago there was a thread here saying that adult internet does in the billions in revenue each year ... i think its a farce, visa probably owns a few porn sites and doesn't want competition