On Fri, 21 Nov 2003, R. A. Hettinga wrote:
"PayPal and eBay have infringed AT&T's U.S. patent that covers transactions in which a trusted intermediary securely processes payments over a communications system such as the Internet."
I wonder what American Express, VISA (and Plus), MasterCard (and Cirrus), Diner's Club, NASDAQ, Autex, Telerate, and even Quotron -- not to mention CRESTCo, DTC, and SWIFT -- would have had to say about *that*?
They won't say anything. They won't have to. Paypal and eBay are both dangerously close to being an underground economy. One is able to transact business without that transaction being tracked by Visa/mc et al. Just like the new banking moves are aimed at getting rid of "check cashing stores", these legal manuevers are aimed at getting rid of any kind of non-controlled commerce. Since the end of all of this is supposed to be a cashless society and an "end to violence" I wonder when john q public will realize that one can trade goods for crack and no money need change hands, hence these pushes are more likely to cause even worse crime, rather than less.