At 8:47 AM -0400 on 7/7/98, Arnold G. Reinhold wrote:
Three orders of magnitude cost reduction as compared to what? I can believe that much improvement over running my credit card thru an imprinter and processing the paper slip.
Yes. SSL and HTML does that to paper, even telephone, credit card transactions. As long as you're using the net anyway. :-).
But I doubt you can get anything like1000X over SET, ugly as it is.
Actually, it's *SET's* burden to proove that it's 1000X cheaper (including the cost of fraud) than SSL, the status quo ante of internet payment systems. I don't think SET is cheaper, much less three orders of magnitude cheaper, than SSL. Cheers, Bob Hettinga ----------------- Robert A. Hettinga <mailto: rah@philodox.com> Philodox Financial Technology Evangelism <http://www.philodox.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire' The Philodox Symposium on Digital Bearer Transaction Settlement July 23-24, 1998: <http://www.philodox.com/symposiuminfo.html>