Quote:
Originally Posted by EmporerEJ
I'm certain this wasn't a merchant account issue.
I merely use that experience to illustrate a point.
I've had the same merchant account from the days of the manual slide machine, and check the little book for bad cards. Back when you dealt directly with your local bank, deposited the slips there, and there was no such thing as a POP machine, OR much computer processing.
Back then, you, the merchant were guaranteed payment, and charge backs were a rare, and unheard of thing. Even with mail/phone orders.
That is most certainly NOT the situation today.
The merchant, today, is ALWAYS the one holding the bag here. Even with all your paperwork and delivery documentation in hand, you are still at their mercy.
I'll be very interested to see what this shakes out to be....but I fear for the parties involved, especially the merchants, and girls that have performed services here, and should be paid.
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I do well remember those days. We had merchant accounts doing comic book conventions etc..
It's just a coinkydink that this Epass problem occurred same time as the Craigslist problem.
Anyhow, there are alternatives to Epass and Gonzo mentioned unreported income and that's not true. The amount of data you put in to Epass as well as your ATM transactions are logged on multiple levels. The major problem is that the government is spending tons of time and effort on a vindictive witch hunt on the common person and middle class instead of putting a foot up the ass of major bankers who skirt by audits and other penalties.
Remember, it was we the people who bailed out "them the banks" who laughed in the face of government but government punishes the people.
This is all going to come to an ugly head soon as people are tired of getting fees to death, higher taxes, no representation in government and Banksters still getting phat pocket bonuses after fucking us over.
This goes all the way back to the usury laws. Laws that were put in place to prevent the debt crisis we're in but bitch assed lawmakers and Nixon let those laws slip and then Reagan deregulated. It was like letting two wolves and a sheep decide what was for dinner.
Believe you me, a student of mine who works for Google has some good money tied up in Epass and so do some of his colleagues there. They're looking to have Google start it's own p2p and VISA and MC are gonna be chomping at the bit for that business.
The more regulations piled on the common guy the less we'll spend and that means the economy goes into a standstill. Ain't it funny how we people can be audited but certain banks, financial institutions, the Federal Reserve can't be? That should tell you right there.
And the IRS with a decades long history of abuses including robbery, grand larceny, invasion of privacy, murder, extortion, mayhem etc. still hasn't been put in check?
Why is it an army of ex IRS employees now have thriving businesses helping people fight the IRS?
So sit back and watch the circus because somebody somewhere screwed up and I'm betting it was a third party involved and all parties are praying that the public doesn't find out who it was because they'll get sued.
If it was a hacker then the party responsible for not providing the proper security is in trouble.
If it was a clerical error the office where the error occurred is going to get sued.
If it was government intervention and it interrupted trade, it's their ass because that's one of the most fundamental laws on the books. No lawyer in his right mind will sit on the sidelines here as it just smells of a bonanza of lawsuits no matter how trivial the reason for this debacle.