Imagine I am launching this fictitious web based business (don't worry I'm just using it as an example):
Shareware developers put their software on my site and people visit the site, browse through the software and purchase it using a credit card. At the end of each month I collect the money from the credit card processor (say Worldpay) and pay the developers who sold software after deducting my cut.
The site must process credit card transactions in real time without human intervention (so no hand checking for fraudulent transactions). It must also take customers from around the world (so no AVS). I have enrolled in Verified by Visa etc ... and whatever else you can suggest.
My question is simple: Is it possible (by choosing to sign up with Verified by Visa or whatever else you suggest) to completely avoid chargebacks due to fraudulent use of credit cards? Assume for the sake of argument that no customer is ever unsatisfied with the software so that is never a reason for a chargeback.
So, with Verified by Visa, is this possible? I assumed it was since as long as I the merchant was signed up with Verified by Visa I was covered even if a customer used a card that was not enrolled. This always seemed too good to be true and then I read this:
read the section titled Liability Shift
that seems to back away from making such a sweeping claim for shifting liability from the merchant.
I'm frustrated because VbyV has been out for years now and even now I can't seem to get a straight answer to a simple question: can I run this (fictitious for the sake of illustration) site without loosing a single dime due to credit card fraud?
I honestly appreciate any guidance people here can give me.