Attention Online Merchants – New Lawsuit Against Visa!!!

[gabbyem]

Does anyone have any information about this problem? A lawsuit has been filed and I’m trying to learn more about it. Online merchants might be getting ripped off through inflated credit card chargebacks.

Here’s how it goes:

First, online merchants are defrauded by foreign buyers using stolen credit card numbers. When the real cardholder reports the fraud, VISA and other credit card companies may be using the wrong foreign-currency exchange rates to perform the chargeback. If VISA uses a higher rate of exchange, THEN THE MERCHANT LOSES SERIOUS MONEY!!!

Visit chargebackdispute [dot com] if you’re interested in learning more. Merchants who have fallen victim to this possible scheme may be eligible for compensation.

[fionix]

I dont believe that this will apply for many online merchants, however it is always good with the latest news in the payment industry.

[Emilyecho]

The new lawsuit sounds very helpful for online merchants. whatever, payment industry trends safer and safer...and we all hope so.