Timeline for Is online payment with credit card equal to giving merchant whole wallet to take the money we agreed upon?
Current License: CC BY-SA 4.0
4 events
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| Nov 22, 2022 at 23:24 | comment | added | user3067860 | Might be worthwhile to mention that the processor can afford to do this because of transaction fees. They control how large the risks are by not working with merchants who are too shady and then the remaining risk gets spread across every transaction as fees. | |
| Nov 21, 2022 at 6:12 | history | edited | user541686 | CC BY-SA 4.0 |
added 98 characters in body
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| Nov 21, 2022 at 5:55 | comment | added | littleadv | +1, for the last point though it would shift all the way back to the merchant. Processors usually keep the money (depending on type of business, volume and ability to collect in other ways) for 14-60 days to account for potential chargebacks. If the processor can't shift a chargeback to the merchant - the processor eats it, not the issuer. | |
| Nov 21, 2022 at 3:30 | history | answered | user541686 | CC BY-SA 4.0 |