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| Merchant Newsletter - March 12, 2005 | ||
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VISA: Merchants pay for customer Rewards |
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 PayPal warning for buyers: An investigation by MSNBC shows that the company doesn’t routinely inform customers when they have been ripped off or regularly notify law enforcement about apparently illegal activity on its site — even when presented with solid evidence of wrongdoing. In a case in which
postage stamps were allegedly being altered to increase their value
and then resold “as is,” eBay took no action to halt the auctions
despite receiving a litany of complaints from a group of stamp experts
who assembled detailed evidence on the purported scam. There was nothing
to indicate that law enforcement was notified in any of the cases,
although the sale of altered stamps would violate state and federal
criminal fraud statutes and constitute fraud under civil law, in the
opinion of Steve Proffitt, a Virginia attorney who specializes in
auction law. Phantom Bidding-
In the case of a Florida power seller who used identical contact
information on both the eBay user ID he was using to peddle sports
memorabilia and the ID he was using for phantom bidding, a member of
eBay’s “Safe Harbor” fraud-fighting team found there was
“insufficient evidence” to take action. After a second complaint was
filed, a representative of eBay’s power seller program phoned the
seller and warned him not to do it again, but did not suspend his
account or notify a buyer who paid at least $200 more for an item than
he would have if the phantom bidding hadn’t occurred.
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We just received information on the proposed changes issued by Visa / Mastercard, and at first glance, they are appear to be a shocker! Visa's change
revolves around "Rewards" cards. In transactions where
no one gets rewards, cash or miles, the effect will be minor, but the
cards offering incentives (Cash, Miles, or other Rewards) will ACTUALLY BE
CHARGED A HIGHER RATE. These rates also will depend on the TYPE OF
MERCHANT, restaurants and Grocery Stores are are to be hit the most
severely. This change will affect every merchant in the US,
except those like Wal-Mart who have the clout to negotiate special terms. Speculations
in the trade magazines as to the reason for this pricing change range
from fallout over the Wal-Mart vs. Visa lawsuit (Visa and MC lost), or the
pressure American Express is putting on banks to issue their card.
Visa can make their card look better to banks if a higher rate makes them
more money, but what about the merchants? For the merchant, two
identical transactions can be charged at two different rates, if one
person used a "generic" card, and the other one used a card with
"rewards" . |
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Copyright (c) 2004 Advanced Merchant Solutions, Inc. All Rights Reserved |
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