MasterCard is changing the industry
Today, I got an email from a friend of mine that works directly with MasterCard, regarding the ever changing rules of MasterCard.
"MasterCard told us that business
models like these ones (2CheckOut) are not compliant to their rulesets and if there are
other merchants on the market, these ones are to be modified or closed as well....
All these requirements are driven by one basic need of MasterCard: "the
endcustomer needs to know without any doubt who is the owner of the goods".
It's MasterCard major concern that chargebacks could be initiated due to wrong information on websites given to the endcustomer."
This means that the goods can only be bought using the 2CheckOut mall and not directly through the merchant.
"They mustn't offer the goods on their own webpage and use (name of company) only as a payment gateway. If merchants want to sell their goods on
their own and use (name of company) only as a payment platform they need to establish a separate contract with other acquirers."
Big question is: What are 2CheckOut and other companies offering the same type of services going to do about this? IMO it would be better to drop MasterCard and let them feel what they miss out on.
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