This is how Visa works
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This is how Visa works
1–10 of 106 posts
Re: This is how Visa works
#2[deleted]
Re: This is how Visa works
#3Is anybody really surprised at this?
Re: This is how Visa works
#4Before we convict them in the court of public opinion, can we have some impartial evidence? A single blog post isn't much.
Re: This is how Visa works
#5Before we convict them in the court of public opinion, can we have some impartial evidence? A single blog post isn't much.
Very true. The only "proof" I have is testimonial proof and some xerox, this is why the only thing possible to me to do is a blog post.
Re: This is how Visa works
#6"I built a small credit card company, we have around 500k users and 2k merchants."
URL of this company? Links to some of the merchants that you've lost or currently have? Clear scan of the document in the photo?
Re: This is how Visa works
#7Whether or not this particular story is true, there is a structural problem with debit transactions. Neither merchants nor consumers should be penalized for electronic transactions in which credit is not involved. Perhaps this means that the infrastructure of bank cards, which was predominantly spread by credit card companies, would fall on vendors and banks, but my guess is that they would benefit enough from the increased liquidity that they would want to create such a system.
Levying a 5-7 percent tax on vendors is simply unfair, when profit margins, particularly on less expensive items are often less than that.
Re: This is how Visa works
#8More votes indeed.
The sad reality is that you might lose even more ground to Visa. At this stage it might be worth to get it on camera somehow or ask those merchants to go on record and take legal actions against Visa. But you likely figured this out already :)
Boa sorte ! A outra batalha sera com a justica brasileira.
Re: This is how Visa works
#9Is anybody really surprised at this?
I'm not really hip to the Brazilian legal system, but in the US this would be highly illegal.
Re: This is how Visa works
#10Is anybody really surprised at this?
I'm not really hip to the Brazilian legal system, but in the US this would be highly illegal.
Sadly, "highly illegal" is often not correlated with "goes to jail", or even "stopping the behavior".
For example: have you ever wondered about the aggressive charity street canvassers that have sprung up over the last few years? The people who would do just about anything to get you to stop on your commute, talk to them, and hand over your credit card?
The aggressive tactics they employ are often illegal, and many instances of outright lies and fabrications have been documented.
But that hasn't really curbed the behavior - the charities and canvassing contractors (yes, they are predominantly for-profit canvassing agencies that only represent the charities, they are not the charities themselves) know full well that a great deal of abuse happens, but by keeping everything at arms-length they can shift blame and diffuse responsibility up the chain.
Whenever a canvasser is caught lying to get the donation, they are a "rogue" employee, cut loose, and the behavior continues. Whenever this happens at a large enough scale to attract media attention, the canvassing agency itself is "rogue" and cut loose by the charity. So on and so forth - nobody actually gets into trouble at any point, except maybe the canvasser on the street who has nobody to redirect the blame onto.
So yeah, even in the US, if you are savvy (and evil) enough, illegality ain't got shit on you.