> Newsflash: the greatest reversible/repudiable payment system ever on > the planet, is credit cards -- Visa and MC. > > You very simply will never be able to improve on them. (How? > Greater penetration? lol. or what? how could it be improved on?)
Oh, I'll improve upon them in almost every aspect, at least as far as its use on the internet is concerned. We should not forget that creditcards where not created for the internet specifically, they already existed and came in use on the net because they were the only form of reversible/repudiable payment around. As a result they have some serious flaws for internet use, but merchants take it for granted because the large userbase of creditcards compensates for the trouble. The advantages of my e-gold based reversible payment system are clear: 1) Lower fees. 2) More transparent for the users, if you make user statistics available. 3) The merchant is handling the disputes/chargebacks himself. This means you can use your own methods to stop scammers from doing fraudulent chargebacks. With creditcards the merchant has not any control over it, and the creditcard companies do a very lousy job in that department, usually granting chargebacks to anyone who asks, without any enquiry... 4) No problems with lost or stolen creditcards 5) The merchant will know exactly when the payment becomes irreversible, and he can choose that chargeback period. With creditcards that is not the case, a customer may do a chargeback even months after the purchase was made... A reversible e-gold spend automatically becomes non repudiable e-gold after a definite period, so that's a huge advantage. 6) Another big advantage for the merchant/seller is that with my reversible spend system, the buyer cannot easily deny that he initiated the spend. With CC he can say that he did not order anything and the merchant has fraudulently charged his CC. With my reversible payment system , the merchant is in far stronger position if the case would come to the court. .... This is are not small advantages, not in the least for the merchant/seller... And you are asking how creditcards could possibly be improved upon.. LOL The only disadvantage of my system at this point: 1) A much smaller users base than creditcards.. (Although I see the number of e-gold accounts is approaching the 1 million mark) And that could change over time... But, hey, setting up this system requires very little resources and people to start. One person with an e-gold account and a webserver can start it. > Alternately: if you want an escrow system - use one of the dozens, > hundreds available. You are equally welcome to do a reversible microspend into my e-gold account #102468 Or show me a webpage that can accept reversible spends with e-gold Cheers, 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.
