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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: brad greene who wrote (87565)	12/15/1999 7:51:00 PM
From: Glenn D. Rudolph	Read Replies (3) \| Respond to of 164684

did two transactions over the net this year......both with Omaha Steaks. They were gifts...sent to my brother and sister.....and the last thing I would want is to have those gifts sent to me....and for me needing to reship. Heck, they were steaks. I would not have ordered the steaks...if I could not have sent them to a different address. Brad, I believe you missed my point here. By the way, I was not making a bullish argument for e-commerce. I was simply pointing out that the bank can verify with the issuer for larger transactions and typically does. I have no clue how much stek you bought but I suspect it is not enough dollars for the issuing bank to bother calling you for verification. However, I am diamonds on my site at more than $20K and the issuing bank would make a call for identity verification. Let's also assume that the buyer for the product I mentioned is going to give it to a wife or finace'. The purchaser will likely have it shipped to their own address. don't know how AMZN handles this.......perhaps Visa and MC are willing to eat the bad deals....because AMZN is so big of a customer. If they don't, and AMZN must eat the bad deals.....then it will be interesting to see the effect. VISA and MasterCard are only franchises. They do not eat anything I believe. The issuing bank bears the responsibility. I doubt every issuing bank is going to cover the butt of Amazon for every fraudulent purchase. Amazon's processing firm may but I doubt that too unless the discount rate is high. Chances are Amazon eats the loss and it falls under some expense we do not hear about. Glenn