Quote:
Originally Posted by CurrentlySober
People that are going out of their way to defraud companies wouldn't be at all afraid.
I personally see it as a false security measure for online stores. they are providing a sense of security for the merchants, which really wouldn't stand up if it was called upon.
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Most importantly: credit card companies/banks really are looking those recorded video and especially sharing that to the user who claims it was not him?
This video is no evidence at all, it only could be useful if the video is shown to the users who claims it was not them, which in a % of cases could let them change idea and retire the chargeback (a small % of cases, better than nothing).
In this promo video there are 2 points I don't think are real:
1) ALL the credit card companies will get and share the video to the cardholder. This should be implemented in the customer care of many banks, cards, countries etc. it could be hardly done if this was mandated by VISA itself, imagine what if by other company. I would be surprised if more than 10% of sales are supported.
2) Let some cardholder be shown the video, not all of them would retire the chargeback claim, in fact, I would be surprised if more than 30% of them would.
so 30% of 10%, I am stating I think this could save 3% of friendly frauds costs.