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"No processor, no matter how good, and no matter how iron-clad their policies may seem, will take 100% liability for scammers. Yes, even PayPal, with their “100
by bequanna 12y ago
"No processor, no matter how good, and no matter how iron-clad their policies may seem, will take 100% liability for scammers. Yes, even PayPal, with their “100% guarantee against fraud.” This is the reality. There’s a lot of fine print for them to hide behind."
My experience having a merchant account that accepted credit cards was that payment processors accept absolutely NO liability. The merchant pays 2-3% (more for AMEX) and is usually on the hook for 100% of the fraud.
- dedward 12y agoExactly. If there is a chargeback, it's a chargeback. That comes straight out of your merchant account, you don't get paid. Further, your monthly fees and percentage may go up if your chargeback rate is not kept at a reasonable rate... IIRC there is a fairly direct relationship there. If you can manage to be a low-chargeback account, you can negotiate better deals.
- blumkvist 12y agoGet a better processor then. MIDs will fight for you, because of the intermediary fees.