> > > > The costs are exactly double the normal e-gold fees, because two spends happen > > before the e-gold arrives into George's account (or back into James' account). > > But I would of course take a little fee for myself and make a profit here. > > Who will handle disputes if there is a chargeback? Credit card companies > have interest fees and merchant fees to pay for people to do this.
The merchant/seller will take care of his own disputes/chargebacks. That's why I will be able to work with very low fees and no employees (or very few if the system becomes a big succes). I did not elaborate on the handling of disputes in my system, because first I wanted make sure people understand the bare bones reversible spend mechanism. So, now I will tell you how I would handle the disputes and chargeback requests. When you, the buyer, do a reversible spend with my system, you will receive a confirmation email which has a link that takes you to the 'complaints/chargeback' page at my site. If you are unhappy with the purchase (for good reason or not) , or if you are a scammer and try to do a fraudelent chargeback, that's the link you will use inorder to get your money back. But I won't simply put a "Chargeback" button there, that would make it too easy for the scammers. On the page you will find a "Lock Payment" button and a form to fill (Of course that button will no longer be there if the chargeback period has expired and the gold has been forwarded to the merchant already) Once you fill the form and hit the "Lock payment", the e-gold will effectively be locked into the system account, until you have settled the dispute with the merchant/seller. This is not a chargeback yet, but the money will also no longer be forwarded to the merchant automatically at the end of the chargeback period. So, this is a kind of intermediate solution, something which creditcards cannot offer, but has huge advantages over simple chargeback. I use this approach because it forces the merchant/seller to get in touch with the buyer and settle the dispute among them, according to the customer agreement he may have on his site. This allows the merchant complete flexibility to arrange his disputes in any way he sees fit, he can even negotiate partial refund with the customer, he can require the goods to be sent back before the spend is reversed,..., your imagination is the limit in this department... In most cases the two parties will be able to work out things among themselves, without my intervention. After the "Lock Payment" button was pushed by the buyer, he will have on his page available another button "Release Payment" which he will use when the problems are solved and he agrees to forward the locked up e-gold to the merchant. The merchant will have on his end a "Grant Chargeback" button, which he can use if he agrees to pay back the customer. He will also be able to propose a partial refund, which will then become available as another button on the page of the customer. And my server will respond by doing the spends that are needed to fulfil the agreement choosen by both parties. In the exception case where both parties cannot agree on anything , or one of the parties is no longer responding, they can either call in my help to cut a decision or decide to go to court. If my help is called, I will charge a special fee , look at whatever evidence both parties present me with, and decide who gets the gold or split it up among both. If they go to court the payment will remain locked until the trial is finished. Because both parties loose if they need outside help, they have incentive to come to an agreement on their own accord. That means I will only rarely be needed, so I can do with very little employees. Regards, Danny --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
