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29991: RE: [MUD-Dev] [NEWS] Gaming Open Market
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From: "Matt Mihaly" <matt@ironrealms.com>
Newsgroups: nu.kanga.list.mud-dev
Date: Wed, 23 Jun 2004 17:58:06 -0700
References: [1]
Organization: Kanga.Nu
From: Daniel.Harman@barclayscapital.com
> From: Matt Mihaly
>> Seemingly growing site? Maybe they were growing, but they said
>> that $3000 wiped out almost all their profits since January. They
>> weren't exactly big players.
> I don't see how you can assume that without knowing their
> turnover. They could just be incredibly unprofitable due to low
> margins or high costs.
Let's just assume it's the case. =)
>> This has nothing to do with the actual market and everything to
>> do with the fact that they ignored an obvious, huge risk and had
>> no plan to mitigate that risk. It also really involves Paypal
>> only by coincidence. Their fate would have been the same using a
>> normal merchant account.
> Do merchant accounts let people DK a credit card transaction as
> easily?
Yes. There is no way to prove delivery of a digital product that
Mastercard/Visa will accept at this time. And in a recent, further
effort aimed at f*cking over small merchants, the Great Credit Card
Duopoloy has deemed that if you dispute a chargeback and are ruled
against, you get fined up to $500.
--matt
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