Quote:
Originally posted by cherrylula
The Internet = Virtual
I don't see anything wrong with using a "virtual currency" to charge for my "virtual internet site."
hehe.
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Virtual currency is all fine and dandy until a company that issues it goes belly up and banks are left to sort out millions of dollars in chargebacks from consumers who deposited their *real money* into those virtual accounts and want it back since they couldn't spend it.
The best thing that Paypal and other services like it can hope for is that their cc transactions become the same as a cash advance. The banks would be happy since they collect the additional fee and are relieved of any chargeback liability.
Not necessarily the best thing for the consumer, but then again the cc's aren't in this for the consumer, nor are the banks, and nor is Paypal...