From: pstemari@erinet.com (Paul J. Ste. Marie)
Date: Mon, 2 Jan 95 12:38:34 PST
To: werewolf@io.org
Subject: Re: Anonymous payment scheme
Message-ID: <9501022030.AA03421@eri.erinet.com>
MIME-Version: 1.0
Content-Type: text/plain


At 03:52 AM 1/2/95 -0600, Samuel Kaplin wrote:
>... I was looking at at the bigger picture. Any merchant who accepts Visa or MC
>could now accept anonymous payments. No hassle at all on their part. They
>probably wouldn't even know that it was an anonymous account. It fits into
>the existing infrastructure very nicely.

If you can convince BankAmerica or MasterCard International to deal with you.

> ... Walk into the issuing authority, plunk your $9999.99 on the counter 
and > ask for your card. When you've spent it all, toss the card.

Right there you imply one of the requirements you'd need to fulfill--the 
reporting requirements on cash transactions over $10K.  If you accepted many 
deposits over $5K, you probably get asked a lot of questions about how 
you're preventing people from structuring transactions to avoid the 
reporting requirement.

    --Paul J. Ste. Marie
      pstemari@well.sf.ca.us, pstemari@erinet.com