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A comment on Introducing Snapcash. Parent comment

Re:Introducing Snapcash by tomp on Tuesday November 18, 2014 @04:23AM (#8623089)
> Which to be fair is what the actual cost of a purely electronic transaction should be).

When you pay with PayPal/Visa/MasterCard, you're not paying for the electricity or the transaction, you're paying for fraud insurance. I wonder, how does EFTPOS handle fraud, and who's responsible for it?

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Re:Introducing Snapcash by jordanthoms on Tuesday November 18, 2014 @05:23AM (#8623265)
I'm not sure, because I've never had a fraudulent transaction with it and never heard of anyone who has. Probably because it's point of sale, card present only. (Fraud with ATM withdrawals is an issue, but that's the bank's problem).
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