> the card networks offer insurance and repudiation of false payments. *They force the participating banks to offer... You think MasterCard or Visa hand over

> the card networks offer insurance and repudiation of false payments. *They force the participating banks to offer... You think MasterCard or Visa hand over a single dime to you? When you issue a chargeback, the money comes from the merchant bank, not from the network. Quite the opposite: the payment network penalizes the merchant bank with an additional chargeback fee. > It’s not because of the complexity or avarice of the payment system providers, https://www.youtube.com/watch?v=ks3wP1nlg6U https://www.youtube.com/watch?v=ks3wP1nlg6U 50% profit margin This is not a competitive market.