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Jon Beck
Trad climber
Oceanside
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This thread started out as how to protect yourself at the gas pump. Now that we have extended it to merchants (since consumers are not at risk) we will look at merchant protections.
For face to face transactions the merchant can protect themselves:
For the brick-and-mortar merchant, this is a card present (CP) transaction, meaning the cardholder, John Smith, is physically present with the card at the point of purchase. When a consumer makes an in-person transaction with a physical card, the merchant has the ability to not only inspect the card but to ask for identification (such as a driver’s licence) and obtain a signature from the consumer. In addition, merchants require a secure form of payment such as paying with a chip-enabled card. Chip-enabled cards generate unique transaction codes for each purchase, making the payment information much more secure. If the merchant follows proper procedure such as requiring a chip-enabled card for purchase and getting a signature, the merchant does not hold the liability on the transaction. Liability rests with the bank that issued the cardholder’s card, and if the purchase is later deemed to be fraudulent, the merchant is not responsible for refunding the customer. (However, if a merchant does not have a chip-enabled card reader, and accepts the transaction, they are held liable for that purchase, as they did not undertake the proper updated security procedures.)
For online orders (Card Not Present, CNP) it is much riskier for merchants. If a merchant blindly accepts CC orders without some verification then there is great risk of chargebacks. A common way to reduce risk is to only ship to the credit card address. I sell on Ebay and use Paypal, total protection if I can prove I shipped to the address provided through Paypal, I have never lost a dime. You do not have to sell through Ebay to use the Paypal system.
There is definitely room for improvement in digital transactions. With the proliferation of smart phones it would be easy to have a system that uses biometrics or passwords through the cell phone to confirm transactions real time. No additional hardware required at the merchant end, just an internet connection.
Card companies eat a lot of fraud
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Ed Hartouni
Trad climber
Livermore, CA
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Useless train-to-no-where idiot bullshit instead of mnadatory, national infrastructure, critical to commerce, instead of stroking one aging politicians massive ego.
I guess it's easy to see the future...
"A vast program thrown together, imperfectly conceived and grossly mismanaged, and in due course becoming a veritable playground for extravagance, waste and corruption..."
WSJ 1958
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Jon Beck
Trad climber
Oceanside
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Idiotic. Borrowing billions to pay for a train that will never show a return on investment
There are no transit systems in the states that show a return on investment. The NYC subway, generally packed to the gills, only returns 50 cents on every operational dollar, but it supports an economy worth billions.
Air and car travel have massive subsidies that are hidden. Rail subsidies are more visible.
Here is a chart of subsidies for Boston transit.
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Splater
climber
Grey Matter
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It's not that hard to see that a strong case can be made for urban transit subsidies, used mostly by commuters, and estimates can be made of how much impact is made on time lost due to traffic, lower pollution, land used, smart growth, etc.
No one can make a good case for the bullet train to nowhere.
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NutAgain!
Trad climber
South Pasadena, CA
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Topic Author's Reply - Oct 5, 2017 - 02:01pm PT
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Wherever the train stops, real estate speculators will get rich first, and then maybe new economies will arise from these digital watering holes? New suburbs for LA and SF.
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