VEMS webshop never charges anyone's credit card, ever.

We simply cannot! We do not ever receive the customer's card number. (different than purchasing at a local shop, where the merchant's magnetic reader in the POS equipment sees the cardnr). Do not ever send your cardnumber to us (or anyone, especially via non-encrypted email).

How does it work than?

What can go wrong?

Prefer card to Paypal payment: Card payment fee (with the hidden fees) is high, but Paypal is even more expensive (worst case and the average case also)

Paypal charges 4,8, or 12% total fee depending on 0, 1 or 2 currency exchange happens in the path from the customer to merchant. This is largely invisible to the customer (most part deducted at the merchant side).

Minor details for "power-users"

While we cannot charge your card, with the card payment to ACMV LLC,

Banking system - monopolistic or real competition among banks ?

The real difference between transfer and card payment : merchant sees the card payment APPROVAL (information) immediately (without receiving the money immediately!) and merchant pays ~2.5% fee and cardholder is sometimes charged ~1% (hidden in the exchange rate when card currency is not USD).

If there were real competition among banks, some banks would offer digitally signed transfer certificates - straightforward with strong public key (asymmetric) cryptography.

Other details: another Paypal fraud:

Card processing gateway: we originally contracted with verisign (~500 transactions /month included in the monthly fee), and things went smooth.

This is nothing compared to the other Paypal gateway issue that resulted in appr 50000 USD (yes, fifty thousand USD!) in 2009 Q4 that was charged from cardholders but not appeared on the merchant's account.

Read about VisaMastercardCriminalNetwork