> Hi Chris, > > I am curious to know how this would work in this case. Lets assume > someone purchased $100 worth of LiveVoip service using his Bank of > America Visa card (and did not get a chance to use the service). So now > LiveVoip is bankrupt and lets assume the owners fled with the money they > made so the bank accounts are cleaned out. If the person now calls Bank > of America to dispute the charge, then who loses the $100 in this case? > Visa, Bank of America, or the consumer?
The acquiring bank that gave livevoip the merchant account loses the money. A merchant account is really just a line of credit in a way. The acquiring bank is responsible to the creditor (the issuing banks who give you your credit card) just like any other loan they make. That's it in a nutshell. Chris _______________________________________________ Asterisk-Biz mailing list [email protected] http://lists.digium.com/mailman/listinfo/asterisk-biz
