[TheCowboy]

Do you know if InComm/Giftango take on any of the burdens of fraud?

There already seems to be a big moral hazard problem with credit card companies and merchants, where the merchants have to cover the entire loss if I understand correctly.

I'm hoping competition from startup payment processors might put pressure on credit card companies, as this ends up costing businesses and consumers a lot of money.

[Pyramids]

As far as Giftango goes, they simply provide the platform, Whole Foods (or whomever is the actual gift card merchant) is responsible for any fraud which occurs due to abuse of the platform. Assuming the fraud was successful, Whole Foods will lose both their product and their money.