As someone who many years ago worked for the largest credit card processing
company in the world and learned the ins and outs of it all I am willing to
bet that the #1 reason that the CC companies (incl Amex and the sort) do
not want to move is the amount of money they will lose in charge back fees.
Every chargeback is $XX + % off of the charge + % off the refund. There
were always ways to prevent fraud but it was the CC companies that did not
want to do it.
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