How Much Does Fraud Cost Credit Card Companies

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Postby fffresh » Mon Dec 22, 2008 8:52 pm

KC95 wrote:what about debit cards? if they are losing that much then how is it that debit cards exist and the fees the sellers pay on them are so low.

obviously someone is making a killing on the fee and i think their first name is master and their last name is card.


This is because debit cards do not carry the same degree of fraud protection. In fact debit card fraud where the criminal uses the pin number has very little protection for the actual cardholder, who essentially is at the mercy of the bank as whether or not the charges will be reimbursed.

Lumber Joe

Postby Lumber Joe » Mon Mar 30, 2009 1:34 pm

Floppster wrote:Lets face it, it is not the Bank which gets screwed at the end. It is the merchant.

It is not even the cardholder that is careless and loses the card

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