[segmondy]

You really have no idea how the payment card industry works. Visa provides 0 protection to the buyer or the seller.

The card issuer/bank provides protection to the buyer. NO ONE provides protection to the seller. The seller's are 100% expose and lose most disputes. With EMV, some of the risks will move but not much. All online transactions are keyed, so not subject to any protection.

Visa doesn't sort out anything, they provide a network and take a cut. Disputes happens between issuer, processor in the middle and merchant. If the processor fails to recover the money from the merchant then the processor is on the hook.