The Answer to credit card fraud?

[epicgodz]

I thought this was pretty interesting and it could actually work if implemented correctly. Here is the link to the story I found on Magtek:

http://www.stores.org/stores-magazine-march-2010/earning-its-stripes

 

[moneyman99]

Very nice +1

I must add I always do hate when they say both ends lose, in my eyes the store wins because they got $ from the purchase and "victim" is going to get funds back, win-win situation to me. Were all wining

 

[333rebel]

Very nice +1

I must add I always do hate when they say both ends lose, in my eyes the store wins because they got $ from the purchase and "victim" is going to get funds back, win-win situation to me. Were all wining

Don't forget that the card processing company will chargeback the order and the shop owner will actually be in huge loss rather than gain.

 

[moneyman99]

True true..

 

[epicgodz]

Usually Visa is the one that eats the losses. Most visa merchant agreements have clauses about credit card fraud. I know that 100% of fraud that is done online, the merchant takes the loss but instore Visa covers it. They also have insurance to protect them from this but it can be expensive especially if a merchant continues to get chargebacks.

I know when I had my Visa merchant for a small business I wasnt liable for any losses due to credit card fraud so I really didnt even bother to ask for ID on transactions, I just compared signatures. Then again if you look at Visas policy, the cardholder is NOT required to show ID when making a purchase as long as the card is signed. Not a lot of people know that.

 

[Prince of Thieves]

True, the ID requirement is just store policy - you can refuse, but they don't have to make the sale.

If you get too many chargebacks at your store, they are eventually going to cancel your merchant account. That is why some small places get so pissed if you card them - they can only get away with so many chargebacks, and they want to use them themselves.

I heard that this magstripe fingerprinting was being used for a while in Germany? Maybe it is not perfect.

 

[333rebel]

I am so much waiting for the whole common shits to die out asap, like only track1+track2 to instore, atm skimming to get d+p, cc+vbv to shop online etc. Its too simple, too easy, and too many un-educated, backward people in the scene.

Its not as much interesting and exciting anymore

 

[epicgodz]

True, the ID requirement is just store policy - you can refuse, but they don't have to make the sale.

If you get too many chargebacks at your store, they are eventually going to cancel your merchant account. That is why some small places get so pissed if you card them - they can only get away with so many chargebacks, and they want to use them themselves.

I heard that this magstripe fingerprinting was being used for a while in Germany? Maybe it is not perfect.

Thats the interesting part....store policy cannot conflict with their Visa Merchant policy. IF you wanted to press the issue and they forced you to show ID, VISA has a special merchant complaint number you can report that retailer to and they will get warned and then if they keep getting complaints they could have their merchant account cancelled. 99% of people just show their ID and they are oblivious to the fact that they technically are not required to do so.

 

[cosmo10]

I am so much waiting for the whole common shits to die out asap, like only track1+track2 to instore, atm skimming to get d+p, cc+vbv to shop online etc. Its too simple, too easy, and too many un-educated, backward people in the scene.

Its not as much interesting and exciting anymore

i agree 100% ppl tht were robbing and selling low level drugs are involed in carding and its making me sick....there the reason its so difficult to instore card now a days.....when the tracks are gone it will drop down to the few again like the old days

 

[epicgodz]

i agree 100% ppl tht were robbing and selling low level drugs are involed in carding and its making me sick....there the reason its so difficult to instore card now a days.....when the tracks are gone it will drop down to the few again like the old days

haha Your 100% right. Its ridiculous, you go to Oakland, CA and you see all these drug dealers that were on the streets sitting at gas stations with a stack of credit cards lmao. They are doing it the cheap way though, their just stealing gift cards and recoding them, I doubt they are doing it themselves, I heard theres a main guy they buy them from. Shit If I was to sell them my legit embossed and tipped plastic with a novelty ID I could make a killing....hmmmmm

 

[moneyman99]

haha Your 100% right. Its ridiculous, you go to Oakland, CA and you see all these drug dealers that were on the streets sitting at gas stations with a stack of credit cards lmao. They are doing it the cheap way though, their just stealing gift cards and recoding them, I doubt they are doing it themselves, I heard theres a main guy they buy them from. Shit If I was to sell them my legit embossed and tipped plastic with a novelty ID I could make a killing....hmmmmm

Hahaha love it, I fukin hate Oakland I swear I knew two people who had it on lock there a few years back and they let everyone get the game and it spread life a hooker with a bad disease. There's no one main guy no more some people are lazy and prefer to buy stuff from friends but then other buy "lines" aka vendors from them get a msr and think there hot shit. That's why this game all fucked up and then They have there uneducated stupid sadity females go up in the store and make shit hot by tryin to get 10k with no emboss Shits sad man I tell you. I only know one boss ass female in the game and her shits on point yea bro I agree this game has become something for everyone Hope one day people will either get tired of it or other people will quit giving up info. Either way it goes for now this shit is slow motion and it suck.

 

[sb.techadvs]

Yeah, Oakland Is Burnt. Almost the Whole Area is. I was In a Bestbuy and saw some kid get himmed up tryna swipe 5 greendots back to back all decline last one was hold pick up and security was already on em.

 

[moneyman99]

Damn OK these new schools have no clue or sense. Carding is an art and should be treated with respect not abused. All good though that's why I travel, spend a little see new sights and make a profit. Fuck a bonnie all I need in this life of sin is me and my track2's LoL

 

[alexcwnet]

I fucking HATE Oakland.. That place is just bull shit.. I was Eating in a Restaurant in Emryville which is basically Oakland and 2 fat Bithches came in and ate like pigs and tried to pay for it with a greendot and that card didn't work, so they simply ran out not paying for it.

Cali Is burnt out, there is way to many "tweekers" aka Meth Heads trying to card everything. They got no respect for the game and Fuck stores up so bad that no body else can ever card there again.

 

[Wave748]

sounds like fun, while everyone else is doing the same thing, those who adapt are on the next level. gotta learn to adapt

 

[Apache]

Damn OK these new schools have no clue or sense. Carding is an art and should be treated with respect not abused.

to them is easy money and fun

 

[create$$]

Del

 

[notaehc]

try2 order stuffz unmarketable of shops
u ppl gonna know da REAL