Quote:
Originally posted by netbilling
eblastics,
Thousands of high risk merchant manage their merchant account without any problems. You just need to have the right company behind you. Whether you are third party or having your own account, 5-6% chargebacks is not acceptable at all. With the new regs, there is no more hiding behind your IPSP. The playing field is levelelling out quickly.
Mitch
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I absolutely agree with you Mitch. Take this scenario...
Let's say "Shithole Inc." switches their 13 paysites to Digiblaze in '99 and they bring with them 200 signups per day, as well as a 6% chargeback rate. Eventually, the heat will come down, but on who? Not "Shithole. Inc", rather Digiblaze, who in fact got shutdown for this very reason. What happens to "Shithole, Inc"? Nothing, they peacefully & discreetly move to another 3rd party processor who gladly & blindly accepts them and their 200 signups per day, not giving a shit about their 6% chargeback rate.
My argument is that the major 3rd party processors should have been more cautious & agressive starting 3 years ago, being very srrict on who they process for and continued to process for. They weren't. They may claim they were, but they weren't. Instead of booting high chargeback sites, they increased the scrubbing and prevented more legit customers from getting approved, in turn screwing the honest, hard working sites & companies.
The douche bag, loud mouth, Kimmykim won't agree with me because she never thinks she's wrong, but she can rant all she wants. It still doesn't change the fact that I'm right.
What's next? 3rd party processors won't be able to shelter "Shithole, Inc" because from now on, VISA & MC are gonna keep a close eye on them, as well as everybody else accepting a CC online. So "Shithole, Inc." better lower their chargeback rate or start thinking of a career change.