[registrars] Re: Credit Card Proposal

["Michael Brody" <mbrody@tldsystems.com>]

This may be premature but maybe is would be a worthwhile endeavor to hire an 
outside attorney to advise us on what information we can share and what 
safeguards need to be employed on this data. 

If we can develop our own database on credit card fraud within our industry 
it would only be a benefit to all involved.   From what I can tell we have 
not had co-operation from the credit card issuing companies, or registry's 
on this matter, and why should they,  the issue is not costing either of 
them money. 

Pushing for legislation of FTC action would help to solve the problem in the 
jurisdiction of the laws but will do little for cross border fraud.   Once 
we have done all we can internally to help battle credit card fraud, then 
maybe we can approach the banking institutions regarding their policy.  As a 
group we have how many millions of dollars in credit card transactions?  how 
much do we pay (in aggregrate) to the credit card processing companies just 
for processing fees?  A lot of money is being earned by the banks on the 
fees we pay.  We shold be able to use it as a negotiating tool to get better 
terms from the banks and better support on these issues, either as 
individual registrars or as a group. 

My second proposal would be to invite banks and credit card processing 
companies to our next meeting, tell them of the issues we face and let them 
present solutions they can provide to our group.  Let them compete for our 
business.  If only one of the companies responds to our needs, it is 
possible that many of us will change to that company for our processing.  
That would generate more competition within the industry for our business... 
Let the market work to our advantage on this issue.