Say a debit card is stolen and used at a store. Who has to pay for the charges made on the card?|||100% the bank pays.
/|||If the money is charged back because it is stolen (the owner of the card contacts their company and charges the money back) then the merchant account processor may get a fee for a chargeback ranging from $10-$25, it depends on how the store is processing payments.|||Credit Card losses are replaced by Insurance that each store carries. Stores are reimbursed for the actual cost of merchandise stolen by use of unauthorized cc use.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment