--- begin forwarded text Date: Wed, 9 Oct 1996 19:49:50 PT From: "Paul Lampru, Marketing Manager, Electronic Commerce Products, Strategic Marketing, ATL, 770-640-3688" <PAUL_L2@sfov1.verifone.com> Subject: Future of Money Hearings To: e-payments@commerce.net Organization: VeriFone X-PS-Qualifiers: /FONT=Courier-Bold/LINES=66/LEFT_MARGIN=36/CALCULATE/TOP_MARGIN=36/BOTTOM_MARGI N=36 MIME-version: 1.0 Sender: owner-e-payments@commerce.NET Precedence: bulk +--------------------------------------------------+ Addressed to: e-payments@commerce.net +--------------------------------------------------+ All: Last June, Denis Calvert, VP for US Sales for VeriFone presented testimony to Rep Castle's Banking Subcommittee. This testimony suggested a strategy that would enable Internet payment schemes...that develop naturally for the Internet over the next couple of years...to be used by merchants who have store fronts or cash register sales systems. This strategy touches chip cards, public key certification authorities, Stored Value Cards, and the migration away from magnetic stripe technology toward chip cards or PC Cards or whatever electronic token is appropriate. This strategy also touches on the potential use of the Internet by US Treasury to distribute welfare payments and other Federal Transfer Payments. This strategy is a hypothetical scenario that leverages the MC/Visa SET payments protocol, but does not effect the protocol or its use for credit card payments on the Internet. This strategy is gaining the attention of a number of Federal agencies. Before this gets too far down the road...PLEASE review this testimony and critique the strategy. The testimony may be found at the following URL: http://www.house.gov/castle/banking/calvert.htm Please suggest a forum that these ideas may be presented and explained in more detail than they can be explained in Mr. Calvert's testimony...or this Email message. Thank you...pdl ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ This message was sent by e-payments@commerce.net. For a complete listing of available commands, please send mail to 'majordomo@commerce.net' with 'help' (no quotations) contained within the body of your message. --- end forwarded text ----------------- Robert Hettinga (rah@shipwright.com) e$, 44 Farquhar Street, Boston, MA 02131 USA "The cost of anything is the foregone alternative" -- Walter Johnson The e$ Home Page: http://www.vmeng.com/rah/