When we were looking at getting our business started, we talked to Merchant Accounts for Visa, Mastercard and Amex. As 99% of our business is e-commerce, Visa wanted us to post a $10,000 security deposit.
They also infomred us that there can be circumsatnces where a client can file a claim for non-receipt of a product upwards of 18 months after it had been shipped.
Even after talking to Mastercard, everything is stacked in favour of the cardholders and themselves with little incentive or protection for us as a merchant. They just want us to pay, pay, pay and be liable for their approving a customer who later decides to file a claim.
So, I readily wave the PayPal flag and look forward to getting my PayPal T-Shirt which I will proudly wear into my bank to see my Account Manager as soon as I get it.
Malcolm