OpenAI is Visa – Buttering up the government to retain a monopoly

Re:OpenAI is Visa – Buttering up the government to retain a ... by hattmall on Thursday December 26, 2024 @11:53PM (#42520033)

The bank doesn't eat the fraud. They charge it back to the merchant. That's why restaurants and bars don't like them, and if you fight the charge backs they raise the rates or drop you entirely.

[ Parent | on HN ]

Re:OpenAI is Visa – Buttering up the government to retain a ... by lxgr on Friday December 27, 2024 @12:04AM (#42520075)

That’s only true for online payments (and even then only if 3DS is not used).

Merchants are not liable for fraud at the POS (which includes almost all restaurants, except maybe those doing deliveries or taking down payments for reservations via the phone etc.)

[ Parent | on HN ]

Re:OpenAI is Visa – Buttering up the government to retain a ... by hattmall on Friday January 03, 2025 @09:32AM (#42585948)

Is this new? My bar got quite a bit of charge backs when I worked there but that was ~15 years ago.

[ Parent | on HN ]