[codexon]

> Somehow, all the businesses that currently exist and accept credit cards are doing so without more than 1-2% chargeback rates.

Citation needed.

https://www.quora.com/Online-Payment-Gateways-and-Processing...

"Amount over $2400-$2500 mark suddenly experiences a surge and it is almost 3.0% to 3.5%"

I have personally had times where my chargeback rate has been above 2%.

Being able to accept credit cards is more of a right rather than a privilege given how much of a monopoly they have and it is virtually impossible to accept payments online through any other means.

I take it you are in favor of credit card companies being able to block payments to arbitrary entities such as wikileaks?

[mootothemax]

"Amount over $2400-$2500 mark suddenly experiences a surge and it is almost 3.0% to 3.5%"

Did you read the rest of that comment?

"I can cite figures for Remittance industry only."

From Wikipedia:

"A remittance is a transfer of money by a foreign worker to an individual in his or her home country."

https://en.wikipedia.org/wiki/Remittance

Frankly, I'm kinda surprised that they're able to operate in that industry with credit cards at all, given how attractive it'll be to credit card fraudsters.

[codexon]

And what is your point? The remittance industry is not a valid business?

[pbreit]

It is very common knowledge that 1% is the cutoff. Are you seriously questioning that?

[codexon]

I don't doubt 1% is a common standard but the parent was making the assertion that "all the businesses that currently exist and accept credit cards are doing so without more than 1-2% chargeback rates".

[pbreit]

Maybe not "all", just 99.9%.