Sphinn - Credit Card Fraud is Out of Control

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Posted By: wrock 284 days ago
Topic Type: News Story (Jump to http://www.merchanttalk.com)
Category: Usability

The end result is that merchants foot the bill for online chargebacks. You didn’t think it was the consumers or the banks, did you? While arguably banks share some of the cost in credit card fraud, when you consider banks like Bank of America (NYSE BAC) almost benefit from allowing it to happen whereas innocent online merchants can often find themselves in bankruptcy over a terminated merchant account, is there really any comparison?

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