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[registrars] Re: [ACCJ-ML] Bank delays in Credit Card collections.
- To: Roger Boisvert <firstname.lastname@example.org>
- Subject: [registrars] Re: [ACCJ-ML] Bank delays in Credit Card collections.
- From: "Robert F. Connelly" <email@example.com>
- Date: Thu, 22 Jul 1999 19:53:43 +0900
- Cc: E-C Subcommittee <firstname.lastname@example.org>
- In-Reply-To: <email@example.com>
- References: <firstname.lastname@example.org>
- Sender: email@example.com
At 11:12 22-07-99 +0900, Roger Boisvert wrote:
>In the US , and most countries, when a merchant sells something with
>credit card payment, the card company withholds payment of abou 5% or so
>to the merchant until a fair amount of time has gone by to allow an
>unhappy customer to return goods if they are unhappy. The merchant gets,
>say, 95% of their money very rapidly, but the remainder is withheld for
>In Japan merchants don't have that problem. Instead however, the system
>causes a massive delay, 5 to 6 weeks for the total. Which system is
>better? My preference is the American system, but, the American system
>also forces some merchants to place a large amount on deposit before they
>can start using the cards to offset potential losses from bad
>sales. Given that is true, perhaps the Japanese system isn't so bad afterall.
Dear Roger: We put up a deposit of only US$20,000. I think that is better.
>The above doesn't give actual costs and actual delays, but, it does
>indicate some of the real issues and comparisons. Being a little lazy in
>not bothering to get exact data.
>At 17:19 99/07/20 +0900, Robert F. Connelly wrote:
>>We've just been made aware that the banks are delaying liquidation of
>>credit card payments for 5 or even 6 weeks.
>>That could be a dreadful deterrent to E-Commerce.
>>One person even suggested that the bank might withhold the 5% Consumption
>>Tax. That seems improper as the Consumption Tax is collected
>>incrementally as the goods or services pass from manufacturer (or
>>importer) to the retail outlet.
>>I believe this is a "tread" which deserves some dialog on this List.
>>A snail was run over by a turtle.
>>When asked, "What happened?", he said,
>>"It happened so fast, I can't remember".
"A hog seldom dies a natural death."
Ulric B. Bray
(Anyone for bacon?)