Credit Card to eCash
What would be the problems in setting up a web site to make a charge to a Credit Card/ATM card number and return Cash, like an ATM for the net? I belive this would be a easy tool to promoat wider use of eCash. Not everyone wants to go through setting up an account at Mark Twain or whereever, just the advantages of a more cash like system. With a few sites like this around, and hopefully therefore more eCash in the wallets of the public this could help to add to a critical mass to eCash and so on. I don't think it would create the critical mass nessary for eCash's success, but at least another log on the fire. anyway... myers
Myers: On Sun, 21 Jul 1996, Myers W. Carpenter wrote:
What would be the problems in setting up a web site to make a charge to a Credit Card/ATM card number and return Cash, like an ATM for the net?
Eight to ten years, I think. It is called money laundering. AFAIK, that was the major legal hassle, when it was first done. << OK, so it was on a BBS, not the internet. >> Getting people to use it is the other major problem. xan jonathon grafolog@netcom.com AOL coasters are unique, and colourful. Collect the entire set.
Well, theres the 90 days of float from the credit card clearing house, and then the chance of non-payment. The fraud issue (steal a credit card, get $10,000 in e-cash...) Adam | What would be the problems in setting up a web site to make a | charge to a Credit Card/ATM card number and return Cash, like an ATM for | the net? -- "It is seldom that liberty of any kind is lost all at once." -Hume
participants (3)
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Adam Shostack -
Jonathon Blake -
Myers W. Carpenter