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Its probably worthless to try and fix the existing system since visa/mc are so hell bent on the brand dilution vs service.
I would really question what Congress is doing because I'm sure that VISA and M/C are in someway major campaign contributors. I'm sure they have a very powerful lobbyist and thus Congress isn't going to do anything that would cut off that supply of money.
My feeling is that until merchants form some sort of powerful coalition, we merchants are going to keep getting hit for everything that the credit card issuers want to hit us for.
I'm amazed (after ten years) that no one has filed a class-action lawsuit over the extra money charged for mail order/ecommerce credit card transactions.
The merchant gets ZERO extra protection.
The merchant gets no relief even if they do not have a chargeback problem, or have a lower chargeback rate than their brick/morter industry average.
.6 % for nothing but being gouged. Multiply that by ten million dollars in sales, for example.
I was wondering if there is any coalition fighting for merchants rights.
I suppose if enough merchants bought stock in the newly listed MasterCard and Visa corporations we might get our voice heard... But it's an uphill battle.
In the meantime two organizations to investigate are Merchant911 and the Merchant Risk Council.
2-3% for credit card transaction are a rip off. Especially since the merchant has to take all the risks.