Quote:
Originally Posted by pilotbob
But, why would the vendor care? My understanding is that Visa/Mastercard (at least in the US) protect the CC holder and the merchant from fraud. As long as the merchant gets an approval for the purchase they have the cash. The CC company eats any fraudulent charges not the vendor or CC holder.
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Because, at least in the UK, if the customer is not physically present when the transaction is made, the card holder is protected, but the merchant is not protected.
The merchant is protected if they check the card-holder's billing address, but "real-time" systems which do that are pretty new. When I was a card merchant, for example, I used to enter all my credit-card slips into a "batch" system a couple of times a week - there was no "real time" checking. There are still a lot of small card merchants who don't have real-time card-checking systems.