Quote:
Originally posted by nevermind
Funny Kimmy. I remember this quote from you on this board when the Visa fees first hit.
The most important point of all. WHY this is happening. Well it's pretty fucking simple. You take a bunch of cheats and thieves, let them get access to peoples credit cards and then watch what they do. XPICS among others comes to mind for me, though I'll keep the other names quiet since alot of them still do business today.
It's not just Visa that is sick and tired of the fraud and the cheating, it's the banks themselves. 95% of banks DO NOT accept high risk transactions but due to the fact that they are grouped with other banks that do, they become potentially liable for losses incurred by the banks that do take high risk.
This is a high risk business, not a fucking free for all. Visa, and soon to be Mastercard, are well within their rights to do this, they are for profit companies, as are the banks that issue and acquire cards.
I guess your opinion has changed since you now work for Epoch?
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First off, I don't work for Epoch. I have a contract to market ePassporte, which is a separate company entirely.
Next off, finding a post I made regarding
people with their own merchant accounts and attempting to apply it to an IPSP/aggregator situation such as this one is grasping at straws, on a good day.
There are plenty of people who've ripped off surfers. No one is denying that. No one has tried to say otherwise.
Your repetitive ranting about rebills and how bad they are prompted my comment, and if you start on that track again, I'll quote myself ;)
To take my comment you quoted a little bit further -- let me add this to it --
VISA should and does seem to, LOVE, the IPSP model. Why, you may ask? Because it creates a bottleneck around the transactions where they can control the content and the system much more easily than with folks running around using their own merchant accounts in ways that are completely out of compliance and possibly fraudulent.
The IPSPs aren't going to commit fraud on behalf of one big customer -- they stand to lose way too much with the rest of their customer base if they get caught.
How much more simple can it be?