With the recent surge in Omicron cases, shipping may be slower than stated times. We are working to build, ship and respond to everything as quickly as possible. Please see all COVID-19 updates here. Thank you for your continued support.

Member #437268

Member Since: May 12, 2013

Country: United States

  • In terms of who pays... Right, the business where the crooks use the stolen card have to eat the charge back. Also, if a particular business gets enough charge backs, then the credit card company will increase the fee the company pays on all their charges. For instance, a small business might have a deal where they pay 2.5% in credit card fees. Then they get a bunch of charge backs from fraudulent credit cards - maybe through no fault of their own - and the credit card company ups their fee to 3%. For a company doing mostly credit card payments you just lost 0.5% of margin; and I think it can get worse. The increased fees across your whole business might be a lot more than the actual fraud. I've always wondered if fraud was actually a money maker for the credit card companies. Does anyone know?

No public wish lists :(