Do we need to pay billions in fees to Stripe, Block, PayPal and Visa/MC?

Re:Do we need to pay billions in fees to Stripe, Block, PayP... by konschubert on Saturday August 17, 2024 @06:25PM (#41278503)

In the US you can take money from a credit card by just using the that’s plainly written on it. That’s not what I would call making an effort at origination fraud prevention.

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Re:Do we need to pay billions in fees to Stripe, Block, PayP... by crazygringo on Saturday August 17, 2024 @07:19PM (#41278842)

Believe it or not, they make a huge effort at fraud prevention. Because it takes away from their profits.

However there are both historical and convenience reasons at play here. It was a big transition to move to chips, for example.

So your assertion that they're not making an effort at fraud prevention is just completely untrue.

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Re:Do we need to pay billions in fees to Stripe, Block, PayP... by lmz on Saturday August 17, 2024 @06:55PM (#41278706)

Hell, you can take money from a bank account by just using what's written on a cheque...

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