[jfengel]

Visa and MasterCard suffer from charge backs already, and don't seem to mind. They try to avoid it with AI in the fraud department, and they push some of the cost onto the merchants.

They could do so much more. We still don't even have chip and pin in the US. They seem to think that the current levels of fraud loss are cheaper than the business lost from stopping it.

[dawnerd]

How are they suffering when they recover funds, charge merchants per chargeback and charge higher rates for merchants with higher than avg chargebacks? Seems like something they benefit from.

[pc86]

Fees are not refunded and additional chargeback fees are levied regardless of the outcome of the dispute.

How exactly are they suffering?