Slashdot Mirror
Mastercard Cuts Off Third Party Transactions
strredwolf writes "Mastercard has cut out third parties from charging on behalf of merchants. This affects folks paying their auctions and goods via Paypal, Yahoo! Paydirect, and potentially ebay's Billpoint. It may also affect Paypal's Mastercard-backed Debit Card, but there's no word from Paypal as far as I can tell." Word has it paypal is trying to negotiate a side deal with Mastercard.
I checked my MasterCard's and VISA's terms of use and as I remembered: I am not allowed to post the credit card number on the net unless the connection is secured by the card issuer's proprietary encryption/validation system.
OMG!!! What will we do??? Where will go??? Taco, does Slashdot accept MS Passport now that it's a gov't ID? :-P
^_^
Well, apparently it's a move to stop porn and gambling sites from committing credit fraud. Mastercard's attempt is a bit ham-handed (the true sign of an upper management decision). on a sidenote: I haven't been able to use paypal for years. I lost my password. They won't respond to my e-mails. C'est la vie.
You underestimate Major League Baseball.
DVD : $15
3 CD's: $35
Tickets for concert: $85
Unable to buy the stuff online with my mastercard........ PRICELESS!
You know who I think is crazy? All my ex-girlfriends!
\documentclass{letter}
\begin{document}
\address{Robert G. Ristroph \\
4533 Avenue A \#208 \\ ( no longer my real address, don't write me here)
Austin, TX 78751 }
\signature{Robert G. Ristroph}
\begin{letter}{ U.S. Bank National Association N.D. \\
P.O. Box 6300 \\
Fargo, ND 58125-6300 }
\opening{Dear Sir or Madam,}
I read with some interest an unsigned note appearing in a bill for my VISA card (Account No. 4190 0043 1516 9544) (don't worry, it's not a valid account anymore!) on February 7th, 2001. The note is titled in large letters ``IMPORTANT CHANGES TO THE CARDHOLDER AGREEMENT GOVERNING YOUR ACCOUNT ISSUED BY U.S. BANK NATIONAL ASSOCIATION ND''. The note states that the late payment fee is \$27.00 the first two times inside any twelve months, and \$35.00 for additional late payments. It also states the following, which I quote in full:
\begin{quote}
Illegal Purchases:
Your card must not be used for any unlawful purpose (for example, funding any account that is set up to facilitate online gambling). You agree that you will not use your card or account for any transaction that is illegal under applicable law.
\end{quote}
I don't want to disagree with this and thus cancel my account. Rather, I would like to agree with it and ask for the following clarifications:
\begin{enumerate}
\item Does the sentence ``Your card must not be used for any unlawful purpose (for example, funding any account that is set up to facilitate online gambling)'' mean that you are giving me legal advice that ``facilitating online gambling'' is against the law in my jurisdiction (or any other) ?
\item Is U.S. Bank National Association ND a law enforcement organization, a representative of a law enforcement organization, or empowered with any law enforcement powers ?
\item May I use this card and account to purchase insurance online ?
\end{enumerate}
I also read with intense interest the additional printing on the reverse side:
\begin{quote}
IMPORTANT CHANGES TO YOUR AGREEMENT
If you do not agree to the changes in terms, \emph{you must notify us in writing within 25 days of the effective date.} If you notify us that you do not agree to the new terms, your account will be closed but \emph{your balance may be paid off in full or under the terms of your existing Cardholder Agreement.}
If you do not notify us, you will have agreed to the these changes in this notice. By using your account after the effective date, you will have accepted the new terms, even if the notification period has not expired.
\end{quote}
I find it interesting that we can amend our agreement and that failure to object or use of the card constitutes agreement to the amendment. I am hereby notifying you of the following changes to our agreement, effective April 25:
\begin{enumerate}
\item[Illegal Activity] Reciprocal to the new terms you instituted that restrict me from using the Card Account for illegal activity such as online gambling, I restrict you by these new terms from using any moneys I pay to you for any illegal activity, including but not limited to bribery, undisclosed compensation of corporate officers, illegal tax avoidance schemes, illegal campaign contributions, payments to illegally hired workers, or any expenditure unproperly reported in your SEC filings.
\item[Account Limit] The account limit on this card is now set to \$200,000. This includes merchant purchases as well as cash advances.
\item[Yearly Interest] The yearly compounded interest on the account is now two percent.
\item[Minimum Payment] The minimum payment will never exceed \$1,500 regardless of the balance.
\item[Disclosure of Account Information] U.S. Bank Association ND will not disclose any information on this account, including but not limited to my name, social security number, address, purchasing history, or other account activity, to anyone, unless forced to disclose the information by a court order or search warrant; and should U.S. Bank National Association ND have to disclose such information, they will promptly notify me of the information revealed and the party receiving the information.
\end{enumerate}
If you do not agree to these terms, you must notify me within 25 days of the effective date (that is, 25 days after April 25, 2001). If you notify me that you do not agree to the new terms, the account will be closed, under the terms of the old agreement. If you do not notify me, you will have agreed to the these changes in this notice. By using the account (accepting a charge I make) after the effective date, you will have accepted these terms, even if the notification period has not expired.
\closing{Sincerely,}
\end{letter}
\end{document}
After I sent those guys this polite letter, you know what happened ? I got a note from them saying they were canceling my account "at your request" ! I think it is quite plain I didn't want my account to be canceled at all, and it was THEIR wish not to be bound by my new terms that lead to them canceling our aggreement.
As a VISA patron, what are your thoughts on these revelations ? I want to hear your opinion.
Cost of policy change to paypal: Millions PR cost to Mastercard: Lots Ultimate value to Mastercard's corporate coffers: Priceless