←back to thread

875 points freedomben | 1 comments | | HN request time: 0.205s | source
Show context
miiiiiike ◴[] No.44611570[source]
Look. Ignore the content. Why the fuck do we allow credit card companies have a say in how we spend our money?

Fraud? Abuse? Fine, let me put cash onto a card and if that card gets stolen, oh well, my loss. Mastercard should have no say in what what speech is considered acceptable outside of their offices. We don't care what execs at a water company think? Why do we care about the people at Mastercard?

replies(7): >>44611601 #>>44611910 #>>44612123 #>>44613420 #>>44613595 #>>44616221 #>>44619373 #
SJC_Hacker ◴[] No.44611910[source]
Because they are on the hook for fraudulent transactions, until they get to merchant to refund. Otherwise they wouldn't care.

Which is why some merchants get effectively blacklisted if they have too many fraudulent transactions

replies(4): >>44612203 #>>44612226 #>>44612713 #>>44614542 #
1. nulbyte ◴[] No.44614542[source]
No they aren't. Fraudulent card not present transactions are fully on the backs of merchants. The networks and banks don't lose a dime of them. In fact, they make more money now, charging additional fees when disputes are filed, and additional fees when they are challenged.