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Online shopping has not been a pleasant experience for many, as web shoppers have once again questioned if MasterCard and Visa are really the best means to shop online.
A huge hue and cry has been raised by web shoppers, on public forums such as twitter and the others, with regard to the online shopping experience that has been shocking in recent times. The main focus seems to be on an online merchant with a dubious reputation and someone with a history of threatening people’s lives if they ever complained on his website. This is the story of Vitaly Borker, a New York resident, who had multiple complaints selling eyewear on his website. All the negative feedback had in turn resulted in Google’s higher search results.
David Seagal, the author of this story, managed to unearth collateral damage of all kinds. Major companies such as Citibank, eBay, as well as the Internet Crime Complaint Center failed miserably at tracking down these rogue retailers as well as in protecting consumers from them.
As a direct impact of this MasterCard and Visa were two of the major institutions whose reputation took a beating. This was due to the fact that both the card companies had a flaw in their security systems and this helped Borker get away with this behavior. In spite of the many complaints he received, he refused to refund the money to the online shoppers.
As per the existing security systems red flags are supposed to go up at MasterCard as well as Visa if there are too many charge-backs that are generated by the merchant. Charge-backs are that term which is used when customers manage to successfully dispute a transaction and also obtain the refund. Mr. Borker carefully observes and keeps track of the figures and manages to dial down the animus when he is nearing the limit.
In being fair to the credit card companies, one must understand that this is not a problem that can be resolved easily and people like Borker are well aware of that. The web is a haven for these rogue elements whose existence is masked and anonymity prevails. Borker was quoted as telling the Times that if Visa or MasterCard ever blocked him out, he would be using the name of a friend of his and give him 1% as his cut. However, MasterCard did manage to shut down Borker, but only for a while.
