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Friday, April 18, 2008

Credit Card Complexity

Retail tech pundit Evan Schuman and I had a discussion about some examples he has come up with about the complexity of credit card transactions. These relate to who is responsible for different kinds of failures and frauds. The law has not caught up with the technology. Evan poses three instructive problems with the credit card system.
" ... If there's one thing that the last year of credit card catastrophes have made undeniable is that mixing credit cards, retailers, banks and card brands is unpredictable and a lot more complex than anyone wants to believe ... "

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