Quote:
Originally posted by Backov
I would think that non-delayed daily payouts would be a big risk for the sponsor..
Some little Russian (or Canadian) webmaster could fraud a bunch of signups, collect that day before the chargebacks came in, and bam.. What's flashcash gonna do about it?
Cheers,
Backov
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As far as I understand this epassporte system, which btw is not new in terms of receiving payments (offshore banks use it - virtual card where you receive payments and plastic PIN cards to withdraw money from ATMs and avoid taxes), chargebacks are said to be history. When signing-up for a virtual card, your current existing card (obviously approved by a bank) is verified and only then you are assigned a virtual epassporte card, and you transfer funds in it from that real plastic card already issued by your bank (later also from payments made there by sponsors, relatives, ...). So, once your existing real card is verified, your virtual card is created and upon fueling it with funds you can start spending online. So, in this case there are no chargebacks, since the customer and funds are real and legit.
One problem would be if the existing card is verified in a matter of seconds online where you can indeed supply some fraud as some people do these days when buying online, but normally if an existing card is thouroughly checked, the virtual epassporte card issued afterwards (together with the Visa Electron PIN card) can be used safely and repeatedly.
There's where I say that such a thouroughly verified existing card can make it possible for a sponsor to add money instantly from every sale to your virtual card, since it's safe now and the owner is verified.