> > In your "timed-release payment escrow" system, what if the customer > fraudulently claims he did not receive the goods? It seems that the > merchant would necessarily absorb this loss, since there is no other > entity (e.g. the credit card company) to absorb it.
It's the same as a fraudulent creditcard chargeback. The merchant eats the loss (something he has calculated into his prices anyway). If you know a creditcard company that absorbs the losses for your chargebacks, please send me their address. > > Of course, the merchant could always ship the merchandise with > confirmation of receipt requested, and that might help as long as the > merchant could use that receipt to preempt any possible chargeback. As long as you publish the user statistics on your site, both for the buyers and the merchants, the fraud will be kept in check. As a merchant you can see if your new customer is doing far above average chargebacks (in % of transaction amounts). As a buyer you can see if the merchant is to be trusted. If a high number of chargebacks is done against him, chances are he is a fraud. Pretty quickly the frauds will have effectively disqualified themselves from your system. > > I probably don't appreciate the need for repudiable payments as much as > others, because I tend to deal with established trustworthy merchants Well, with repudiable payment you can safely buy from merchants that are not trustworthy too. Regards, Danny --- 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.
