[39757] in Cypherpunks
Re: USA Today on Fear of Credit Cards over Net
daemon@ATHENA.MIT.EDU (Perry E. Metzger)
Thu Sep 21 09:35:04 1995
To: Randy Catoe <Randy@mci.net>
Cc: cypherpunks@toad.com
In-Reply-To: Your message of "Thu, 21 Sep 1995 01:37:07 EDT."
<01HVIQUUZ6HU8WX6TO@MAILSRV1.PCY.MCI.NET>
Reply-To: perry@piermont.com
Date: Thu, 21 Sep 1995 09:32:52 -0400
From: "Perry E. Metzger" <perry@piermont.com>
Randy Catoe writes:
> I'm told that the revenue lost to fraud in the
> credit card industry is around .15 percent of the gross purchase value.
Thats a giant amount of money in dollars.
> I'm also told that the credit card companies actually face higher costs
> from disputes, i.e. when you call them up and busy out a person to
> resolve a question on you bill.
Crypto will also reduce that rate, IMHO.
Perry
