Re:Letting users skip our paywall if they wrote an apology
by AnthonyMouse on Wednesday November 01, 2017 @03:49PM
(#15604848)
If it was actually the consumers who were averse to the risk then we could get rid of the law and nothing would change.
The problem is the law is inefficient because the consumer is the lowest cost avoider. They can do things like using a good pass phrase and not reusing passwords and not holding large sums of money in uninsured accounts for unnecessarily long periods of time.
Payment processors can't stop customers with no skin in the game from making poor decisions, so they have to sum up the cost of the resulting fraud and make everyone pay it as transaction fees, and then we can't have micro-payments.
The problem is the law is inefficient because the consumer is the lowest cost avoider. They can do things like using a good pass phrase and not reusing passwords and not holding large sums of money in uninsured accounts for unnecessarily long periods of time.
Payment processors can't stop customers with no skin in the game from making poor decisions, so they have to sum up the cost of the resulting fraud and make everyone pay it as transaction fees, and then we can't have micro-payments.