Re: 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?
-- "It is seldom that liberty of any kind is lost all at once." -Hume
Obviously this would be tremendous! There are a variety of ways that one can construct a purse to allow use of a purchased amount of ecash(tm) without being a customer of a particular bank - a nifty idea if the credit card part works. The "credit card thing" has been much discussed but really hinges on a change in the MC or VISA rules that either doesn't allow someone to cancel the transaction at a later date leaving the acceptor holding the bag, or allowing the acceptor to charge a fee that covers the default risk of the former. Currently according to my reading both are precluded. Curiously, a little bird told me that the VISA _cash_ cards for Atlanta allow you to call up to order one paying with a credit card, and that it appears on one's statement as merchandise. I would be curious to hear what VISA rule changed to allow a non-face-to-face cash advance to occur and call it merchandise! Whatever. Best, FOT My own ideas, not my employer's. Frank O. Trotter, III - fotiii@crl.com www.marktwain.com - Fax: +1 314 569-4906 --------------------------------------------
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Frank O. Trotter, III