Guys, GoldNow CC fraud losses are minimal... however, *maintaining* it that way takes serious staff input & wages. Our actual fraud rate is less than 0.003%. The *attempted* fraud rate is massive. We reject 100-250 orders per month, worth up to a quarter Million $, as fraudulent. Usually stolen ID & CC info.
So, do I accept fraud, or pay wages? The obvious answer is to pay wages. Either way, it costs! (Wages are a lot less, one would hope!) BTW, the "May Scale of Hardness" can change slightly, if the merchant takes massive action on managing the CC risk. For instance, I feel safer accepting an online CC order, than I would accepting 'real' cards in a shop scenario. It's all a matter of experience, and managing the risk. Graham Kelly CEO On Thu, 29 May 2003 07:57:46 +1000, [EMAIL PROTECTED] said: > >Yes, but what's the answer to this question, JP: > >** How can an exchange provider offer DGCs in exchange for CC > >payments and make money doing it? > > Right, very simply by building in a premium to cover losses. > > >I think I know what JP's answer is: > >IT AIN'T POSSIBLE, AND HERE'S WHY: > >http://interestingsoftware.com/mayscale.html > > > > RIGHT ON !!!!!! --------------------------------------------- GoldNow http://www.GoldNow.St Primary Customer Service +61 3 9776-4886 US Free Call 1-866-999-1717 US Fax 1-213-559-8555 UK Phone +44 (0) 709 233-7612 UK Phone +44 (0) 709 201-4015 CEO Order your GoldNow debit card today, at https://www.goldnow.st/debit_card_buy.asp --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
