Quote:
Originally Posted by signupdamnit
It was a good read. A little unorthodox but still good. It makes me think that, yes, I doubt Visa and Mastercard just decided to come up with these fees one day without at least meeting with the major adult processors. The processors in turn may have consulted their biggest customers. A large company doing millions a year (premium tube?) doesn't care about some $500 fee. A small pay site operator might. For the large pay site maybe the $500 fee is great because it helps to further eliminate the competition too.
It always seemed ironic to me that for the most part the people doing the shady things like banging cards are at the top. And the regulations and fees primarily hurt those at the bottom or middle of the industry when they were never the problem in the first place.
|
The Golden paragraph for me that stood out was when the reporter says he tried to validate and confirm that visa even gets the $500.00 annual fee and he was not able to get any confirmation from either party about who collects the registration fee.
Then I remember how customary it is to get always ask for a receipt when you pay for something