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The bank doesn't eat the fraud. They charge it back to the merchant. That's why restaurants and bars don't like them, and if you fight the charge backs they rai
by hattmall 2y ago
The bank doesn't eat the fraud. They charge it back to the merchant. That's why restaurants and bars don't like them, and if you fight the charge backs they raise the rates or drop you entirely.
- lxgr 2y agoThat’s only true for online payments (and even then only if 3DS is not used). Merchants are not liable for fraud at the POS (which includes almost all restaurants, except maybe those doing deliveries or taking down payments for reservations via the phone etc.)
- hattmall 2y agoIs this new? My bar got quite a bit of charge backs when I worked there but that was ~15 years ago.