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DGC Magazine February 2009 Issue § 35
The Internet gave birth to e-commerce and created aglobal sales platform for any business. Some peoplestill ask, “have DGC companies really taken advantageof this sweeping opportunity?” Do they cater to any retail customers? Are digital gold companies evenfocused on capturing the retail consumer? 
The real beauty of digital gold currency and one of the
primary benets it delivers to all users is the solid reality
of No Chargebacks.Online commerce is accomplished with absolutely nochargeback fraud. The fact is that you cannot reversea transaction.Last week, all major network news stations ran thestory about Heartland Payment Systems and howsome hackers had continuous access to their customer transaction database(s) since late last year. Somebodyleft the “digital backdoor” open and the criminals gained
easy access to customer names, addresses, nancial
accounts and likely other private info like SSNs, DOBsor information of a personal nature.The payment processing computers which theintruders copied, were used to process 100 millioncard transactions per month for 175,000 merchants.(that’s a lot of credit card transactions) The companyspokesperson said the hackers had access for severalmonths and they just don’t know how many hundredsof millions of card accounts were exposed.From our industry’s point of view, if you are a retailer selling online and accepting digital gold currency, youcan simply laugh off this type of CC fraud. Chargebacksare just not possible with a digital gold system. All
transactions are nal.
As the e-gold slogan goes, “Get paid and stay paid.”Of course this is excellent if you are the seller (nochargebacks keep your income), but it’s not alwaysgreat if you are on the other end as the buyer. If youhave ever bought merchandise online using digital
gold and gotten ‘ripped’ or been dissatised with your 
purchase....well there was not much you could do but
ame the company on some forum and hope others
read it.This issue has been haunting digital gold users for about a decade.No digital gold company has yet built in a customer satisfaction/rating system or active dispute resolutionrequired on all account holders. Webmoney doesa great job with offering a customer blackmark andarbitration service, but it is not required to be used byall account holders, so the possibility of a bad sale isstill present. Webmoney even has a warning code built
into each rst time transaction so the account holder 
recognizes when they are spending to someone new.(it’s excellent) I would imagine this also cuts down onincorrect transfers.The newest DGC coming out of beta testing right now
i
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Flickr.com photo of old tools most of them circa 1890Courtesy
http://www.ickr.com/photos/vidular/2972996461/
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