Patrick,
(snip)
I understand the
problems with PayPal, but was not aware of any problems with c2it and
ecount.
I was illustrating the point that the "payment systems" were inherently
flawed when mixed with *non-repudiable* forms of payment as a business
decision. Thieves were opening hundreds (probably thousands) of accounts
with PayPal and E-Money Mail last year. (I also had a problem with payments
from E-Count. I refused to used C2IT) Once they were given credit in their
accounts (before their bogus cards or ACH transactions were discovered by
the payment systems) they would place orders with the Market Makers and send
a payment. (Allowed in *faith* by the payment system since a credit card
number was on hand.) In some cases, I had transactions reversed as long as
SIX months after the fact by payment systems. My account was debited by the
payment system when their credit card charge backs rolled in. Since DGC's
are non-repudiable, my company, as well as the other MM's, then suffered the
losses. I even had clients who would fax me their Drivers license and credit
card statements as proof of ID. The credit card companies would not
challenge the person's chargeback later since I could not prove the "card
was present" by obtaining a signature on a sales slip. Hard to do in the
Internet environment. So, they would allow card holders to chargeback
despite my documentation. Cardholders would claim various stories: don't
remember authorizing, didn't authorize, card must have been compromised over
the Net, etc. Patrick, you would NOT believe the amount of scams and
scammers out there. Just ask ANY market maker for a few stories. My guess
is they ALL have more than their share they would tell you.
(snip)
I'm not so sure about that.
When I fund my Ecount, I must pass two tests:
Yes, the payment systems HAVE come a long way in completing Due
Diligence and instituting Fraud Prevention measures. However, this is a
recent development and does not alter the practices of past. Although I am
happy to see them get more aggressive now, it still does not deter them from
freezing your account if a scammer sends you funds after getting by their
safety measures. If you read their User Agreements closely, almost all of
them explicitly warn they reserve the right to reclaim funds from your
account.
(snip)
Perhaps Eric could illuminate
the dangers a little more specifically.
E-Count also jacked up their rates for funding the accounts and places
pretty stiff limits on funding by way of cards now. Again, my point was
what happened in the past, Patrick, I am not trying to dissuade you (or
anyone) from using the payment systems. As they say...buyer beware.
(snip)
Also, Eric did not mention Yahoo PayDirect as a credit card scam
problem. Are they somehow more stringent than ecount, or would you
consider them a risk too? Are ALL credit-card funded payment systems
just inherently "scam attractors"?
I do not honestly know, Patrick, as I learned my lessons the *hard* way
many months ago. I do not accept, nor promote or advise the use of any of
these payment systems. Besides, not a single one offers the type of safety,
security, speed, or endless possibilities that the GBC's offer. Why bother
with credit cards? Who wants to keep paying interest MONTHS and YEARS down
the road just for the privilege of using something so antiquated? I will
take GOLD over PLASTIC any day. And, I will sleep at night knowing I will
not wake up to a small mountain of chargebacks and service charges.
Are there any other points that you would like addressed? Again, feel
free to use E-Count or PayPal, Patrick, I just prefer the GBC's due to the
experiences I have had in the last two + years.
Thanks,
Eric Gaithman, President
Gaithmans Gold Nation, Inc.
[EMAIL PROTECTED]
www.gaithmans.com
(317) 788-8580 Voice
(317) 788-8581 Fax
Gaithmans...your ultimate digital currency destination!
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