Visa, Mastercard $30B swipe fee settlement rejected by US judge

Re:Visa, Mastercard $30B swipe fee settlement rejected by US... by franga2000 on Wednesday June 26, 2024 @06:14AM (#40798322)

Firstly, that's just conceptually stupid, but ok, whatever, it's the US.

More practically: this is still a dispute process. You still have to fill in forms, you still temporarily don't have your money, you still might not get it back. Why take that risk when you could just have a popup on your phone that you click "allow" on? 15 seconds max.

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Re:Visa, Mastercard $30B swipe fee settlement rejected by US... by ExoticPearTree on Wednesday June 26, 2024 @09:02AM (#40799545)

You don't fill out forms or what you imagine. And because it is a credit card, you don't lose your money.

Regarding your last question, about the 15 seconds friction, you should work for a bit in online commerce to see how fast people give up paying if there's even a little inconvenience in the checkout process and go somewhere else they perceive it makes their shopping experience easier. The biggest drop in conversion rates happens at the checkout stage.

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Re:Visa, Mastercard $30B swipe fee settlement rejected by US... by franga2000 on Wednesday June 26, 2024 @02:20PM (#40802861)

Where else would they go? The 3DS process depends on your issuer, not the merchant, so the process is the same no matter where you shop.

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