Re: new twisted in credit card theft - Saab General Bulletin Board - Saabnet.com
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Re: new twisted in credit card theft
Posted by jp (more from jp) on Thu, 18 Oct 2007 18:46:02
In Reply to: new twisted in credit card theft, yaofeng, Thu, 18 Oct 2007 18:07:08
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The merchants do (ultimately). Credit card companies don't shuffle money around for nothing. If the merchant has average practices for ensuring proper credit card use, they pay the transaction plus percentage fee. If it's proven that the merchant goofed, they don't get paid by the credit card company for that transaction, and may end up with a higher percentage fee. Between these various charges, merchants have to build the cost of credit card transactions into their product or service prices.
We process many credit card transaction in my work, but for us, the fees involved are comparable or less than printing the invoice and buying the postage for us to be mailing the customer a bill.
My credit card has in plain letters on the signature part, "See ID". 85% of the time, merchant's don't check signatures. Home Depot is one of the better ones at asking to see identification to verify my signature. I figure the card would be less useful to a thief without a signature written on it.
If the thief used a self-checkout, probably nobody would verify the signature. The crime will probably go unsolved, unless it's part of a big crime ring or costly inside job, there is so much of it, the investigators have to choose their battles and go after the bigger and organized stuff for the most part.
Posts in this Thread:
- new twisted in credit card theft, yaofeng, Thu, 18 Oct 2007 18:07:08
- No more debit card for me-, adl6009 , Fri, 19 Oct 2007 11:42:13
- USA law. You are liable for only 50 dollars, Chaz, Fri, 19 Oct 2007 08:50:43
- Similar thing happened to me 5 years ago this month, MI-Roger , Fri, 19 Oct 2007 03:34:56
- We all paid for the fraud charges, just like ...., TKC, Thu, 18 Oct 2007 19:21:12
- Re: new twisted in credit card theft, jp, Thu, 18 Oct 2007 18:46:02 <-- Viewing This Message
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