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DJM, the end.


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8 hours ago, Amand said:

 

Stewed figs and prunes with custard. A one off treat for me when I were a young lad!

 

Aaahh yes!!  At last, a proper diagnosis of the speculative, verbal d**rrhoea  hereabouts.

 

Julian

 

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One positive outcome of this sorry affair is an apparent upsurge in new members posting on this thread.  Most though either want the thread locked or are speaking in defence of Dave.   Could this be a counter offensive?

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On 20/06/2019 at 12:56, Amand said:

It depends. 

 

In this scenario there are 4 parties. The consumer who holds the piece of plastic. The issuing bank, who supply the consumer with the piece of plastic. The acquiring bank, who process the credit card payments on behalf of the merchant / retailer etc. And the retailer, or receiver if things go wrong.

 

Aren't there 5 or 6 parties?

 

1) customer

2 ) customer's issuing bank e.g. MBNA, Barclays

3) credit card company e.g. Visa, Mastercard (i.e. you have a Barclays Visa card)

4) retailer

5) retailer's card processer e.g. Worldpay

6) retailer's bank Barclays etc

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18 minutes ago, ruggedpeak said:

Aren't there 5 or 6 parties?

 

1) customer

2 ) customer's issuing bank e.g. MBNA, Barclays

3) credit card company e.g. Visa, Mastercard (i.e. you have a Barclays Visa card)

4) retailer

5) retailer's card processer e.g. Worldpay

6) retailer's bank Barclays etc

Yes, but I simplified matters as 3 and 5 on your list so not lose out financially.

 

Visa and MasterCard licence their card numbers, the first 6 digits being the BIN (bank identifier number). They used to issue BIN books (now online) which were like a global telephone directory. So say the first 4 or 6 digits of a card number identify the financial institution. Visa / MasterCard get their money from a tiny percentage of each transaction, and they make a charge when chargebacks are made. No financial risk to them if anyone ceases trading.

 

Payment processors are just that, they are a gateway. Say as a retailer you get a POS terminal from Barclays Merchant Services. But you bank with HSBC. A customer pays with a card issued by First National Bank of Wyoming. You don't have an account with them, yet your payment procesor is able in a matter of seconds to go through a payment interchange that requests authorisation from the correct source, gets the payment debited and credited to your bank account. Plus it leaves an audit trail should there be any comeback. No financial risk to the payment processor, like Visa / MasterCard they get a cut of the transaction. If a chargeback happens they don't lose out.

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39 minutes ago, Amand said:

Yes, but I simplified matters as 3 and 5 on your list so not lose out financially.

 

Visa and MasterCard licence their card numbers, the first 6 digits being the BIN (bank identifier number). They used to issue BIN books (now online) which were like a global telephone directory. So say the first 4 or 6 digits of a card number identify the financial institution. Visa / MasterCard get their money from a tiny percentage of each transaction, and they make a charge when chargebacks are made. No financial risk to them if anyone ceases trading.

 

Payment processors are just that, they are a gateway. Say as a retailer you get a POS terminal from Barclays Merchant Services. But you bank with HSBC. A customer pays with a card issued by First National Bank of Wyoming. You don't have an account with them, yet your payment procesor is able in a matter of seconds to go through a payment interchange that requests authorisation from the correct source, gets the payment debited and credited to your bank account. Plus it leaves an audit trail should there be any comeback. No financial risk to the payment processor, like Visa / MasterCard they get a cut of the transaction. If a chargeback happens they don't lose out.

And a very good settlement system it was/is too - when I was working on Chargebacks back in the day the magnitude and efficiency of the whole system was there to be seen, rules driven with arbitration available when it was needed.

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23 hours ago, Porcy Mane said:




  Only eleven days old.





 






Do you REALLY think he'll go? It's probably just old info copied from somewhere.   1) He's likely to be in a fight 2) What has he got to sell / show off?   Good info but I suspect it isn't valid anymore.


Edited by Sir TophamHatt
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On 21/06/2019 at 00:25, lightengine said:

Don't these type of people usually open up a new business often in the same line of work?

I wonder if and when that happens how many crowd funders he will attract.

He has done it a couple of times, and had plenty of ££ from folk. I would expect a third time to be just the same. Exactly the same as dodgy rip off tradesmen, except it's model railway product 

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On ‎19‎/‎06‎/‎2019 at 18:35, Edwardian said:

 

But a railway suspension bridge that is that is (a) Victorian, (b) for standard gauge, and (c) in the UK?

 

 

The Royal Albert bridge at Saltash, currently fulfils all of the above. Although it is not quite the same type of suspension bridge as the model, and originally I believe that there were problems with the rails being the wrong distance apart. 

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49 minutes ago, blueeighties said:

He has done it a couple of times, and had plenty of ££ from folk. I would expect a third time to be just the same. Exactly the same as dodgy rip off tradesmen, except it's model railway product 

 

We are a fairly close-knit community and even more so in the age of online forums so I think word would get around quickly. Even if it were attempted I very much doubt that people would be so ready to part with money given the unfortunate ending of the previous venture.

Edited by Roy L S
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35 minutes ago, stock_2007 said:

Don't all jump on me at once but I'm starting to wonder just what is the point of this thread after 52 pages?:crazy_mini:

 

Why don't you unfollow it, then? That way you won't have to worry about it any more.

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1 hour ago, stock_2007 said:

Don't all jump on me at once but I'm starting to wonder just what is the point of this thread after 52 pages?:crazy_mini:

While I have no desire to see this thread locked/closed, it did strike me as ironic that the title is 'DJM, the end'. The business may have ended but the thread shows no sign of doing so  

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8 hours ago, Roy L S said:

 

We are a fairly close-knit community and even more so in the age of online forums so I think word would get around quickly. Even if it were attempted I very much doubt that people would be so ready to part with money given the unfortunate ending of the previous venture.

More specifically, since this time he’s gone into liquidation (I’m not sure how ‘Nthusiast ended), there may be limitations on how/if he can start up again.

 

I realise that people do, but they appear to be serial swindlers and ne’er-do-wells. I think DJ is not necessarily of this type, just a dreamer out of his depth. 

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As I have said before, I have absolutely no axe to grind on the subject of DJM, but it appears to me that there are very good reasons why companies like Dapol, Bachmann, Hornby etc employ specialists like researchers, designers, accountants, project managers, marketing teams, logistics experts - and thereby have increased costs - and that is that one person is very unlikely to be sufficiently expert in all those fields to do everything themselves.

 

And if such a person does exist they could make themselves a lot more money in more profitable areas than model railways!

Edited by TEAMYAKIMA
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1 hour ago, truffy said:

 

I realise that people do, but they appear to be serial swindlers and ne’er-do-wells. I think DJ is not necessarily of this type, just a dreamer out of his depth. 

I remain to be convinced.

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