Getting rugged by banks as a merchant is absolutely disgraceful.

For those that do not know how online payments work, this it how it works with VISA and Mastercard:

1. Merchant receives order with credit card payment and ships products. Let's say worth a 1000$

2. Person finds out his credit card has been misused and calls his bank.

3. Bank initiates chargeback which withdraws the money from merchants bank account without merchants consent.

4. Merchant finds out that 1000$ has been withdrawn from his bank account.

5. Merchant is charged a 15$ fee for the chargeback.

Bank earned 15$

Customer who didn't protect his creditcard has been made whole.

Merchant looses products worth 1000$ + 15$ fee

Banks own MasterCard and VISA.

Welcome to a rigged monetary system!