Visa swings a double bladed axe
 

shutting down small processors is only part of what's to come IMHO

we've already seen the chargeback ratios change, as well as the hints at disallowing recurring purchases, I think visa is just getting started

funniest thing today, when doing a wire transfer I was sitting at my account manager's desk. Off in the corner on top of a stack of papers was a summary list of people's visa accounts which were past due, and all the times which they had been called to try and get them to make payments

Makes me wonder if the "get your visa card" offers that are in the junk mail every month have anything to do with that?

Wasn't there a guy with a dog who a pplied for a credit card so fido, could have his own charge account?

Funny thing...


But dont forget it is the evil porn webmasters that have brought this all down!!!

Ar at least visa and the banks would have everyone believe!

Do you think Visa/MC maybe want people to get their own merchant accounts?

I don't. I think Visa and MC want to control the points of payment in this industry just like they did and still do in audiotext. You've got a couple of really big whales, a tiny number of small feeder fish swimming behind them, and that's all the fish in the sea.

Visa has nothing to do or doesnt give a shit about people paying their Visa credit card bills, thats covered by the issuing bank. They just take their percent. Of course the bank has a list of people that havent paid and they keep track of their collection efforts, same applies for mortgage loans and any other type of credit. A certain % of people dont pay or pay late. Thats what a credit score is for.