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Here is my 2 cemnts worth
I had a Canadian merchant account. Until Moneris took the 0% tolerance on adult entertainment and shut be down.
When I got a chargeback, VISA or Mastercard took the charge off my next monthly statement plus a 5 dollar charge. If it was a fraudulent card, same thing would happen.
They were NOT losing money on frauds, chargeback, they were MAKING money!
So as far as I am concerned this is a huge Cash Grab for Visa.
but we have to pay 750 PER 3rdparty biller. Also Master card, Diners, Amex, JCB WILL follow suit. and they may all charge 250 bucks each.. Ya it is the cost of doing business.. fine.. but it is not helping anything but there pocketbooks.. the 3rd party billers do not get one cent of this.
Any thoughts?
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