-----BEGIN PGP SIGNED MESSAGE----- I got an interesting fax today from someone promoting "Telephone Check Payment Systems, a division of Financial Planning Associates, a company that has been in existence for 17 years." Excerpts: "Paper drafts are established as a legal method of payment as provided in the Uniform Commercial Code, Title 1, Section 1-201 [39] and Title 3, Sections 3-104, 3-401 and 3-403; Code of Federal Regulations, Title 12 Chapter II, Part 210; and Regulation J, Federal Reserve Bank, Part 2, Sections 4A-201 to 4A-212. Only verbal agreement is required for authorization. Also see Romani v Harris, 255 Md.389." and... "Attention Businesses...Accept Personal and Business Checks Over The Telephone (or by fax) for Your Orders, Payments, Collections and Donations!" If you want more details about this, drop me a note. I have no other connection with the company besides the fax from a sales guy, so far. Does anyone out there know something about this concept? Could this be useful for a digital cash bank interface? I read in Dvorak's Guide to PC Telecom that the difference between on-line failures and successes depends on the convenience of payment. If you needed a credit card to buy a hamburger, McDonald's wouldn't make many sales. Back to the fax, "There are 65 million consumers who have checking accounts but do not have credit cards...plus millions of credit card holders with little or no usable credit currently available on their cards. You can dramatically increase your sales by tapping into this huge market with your ability to take check payments over the telephone. Don't lose that important IMPULSE SALE!" etc. ... Fascinating. Kent - j.hastings6@genie.geis.com -----BEGIN PGP SIGNATURE----- Version: 2.3 iQCVAgUBLiyIBTQYUX1dU7vxAQFUBgP5AVbEJRlCrYWS+O2sWHaMPpVdZVW3olAs iPh2T/Uz8L8EnZVSLs01vhH1vzWpNhDYAbSdsnnd+hSXDpxtMMvCPwDovcACnope 53nvlU4NPhSwb1sXskf3TIyk5Fs9J22BY4w2JBndBSco2YRLaratEkmD81LcnIkC nAAj5UL1tnE= =uhFf -----END PGP SIGNATURE-----
From: j.hastings6@genie.geis.com Date: Wed, 20 Jul 94 09:19:00 UTC "Attention Businesses...Accept Personal and Business Checks Over The Telephone (or by fax) for Your Orders, Payments, Collections and Donations!" Could this be useful for a digital cash bank interface? Sure could. Problem is that they charge something like $2 per check they write for you. Makes it hard to deal with small amounts. Other problem is that people are resistant to give you their checking account number. Yes, it's no worse than actually sending a check, but who ever said that people were rational? -russ <nelson@crynwr.com> http://www.crynwr.com/crynwr/nelson.html Crynwr Software | Crynwr Software sells packet driver support | ask4 PGP key 11 Grant St. | +1 315 268 1925 (9201 FAX) | What is thee doing about it? Potsdam, NY 13676 | LPF member - ask me about the harm software patents do.
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j.hastings6＠genie.geis.com -
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