Why Blockbuster looks at your ID.
dan at geer.org
dan at geer.org
Sat Jul 9 17:38:33 EDT 2005
> 1992: $2.6B
> 2003: $882M
> 2004: $788M
>
> We're on the order of 4.7 cents on the $100.
I consulted an oracle at a major third party
processor. He said the number is more like
64-67 basis points, that you have to be very
precise about your definitions, i.e., very
precise about what goes in the numerator and
what goes in the denominator. For example,
if a dishonored transaction is the merchant's
fault and the merchant has to foot the bill
then the card association has not had a fraud
loss. I doubt it is actually germane to this
list, but I can go back to said oracle if
requested.
BTW, if you ever have the opportunity to hear
Frank Abagnale's discussion of check forgery
by all means do so.
--dan
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