From: Alan Olsen <alano@teleport.com>
To: Jonathon Blake <BMCarpenter@trevecca.edu>
Message Hash: f2de4d9e46e2ebafa1917de1dc8d970f2967832b1a01af7ee8a3b24bc0e82853
Message ID: <2.2.32.19960722205945.00d1b3e8@mail.teleport.com>
Reply To: N/A
UTC Datetime: 1996-07-23 06:33:30 UTC
Raw Date: Tue, 23 Jul 1996 14:33:30 +0800
From: Alan Olsen <alano@teleport.com>
Date: Tue, 23 Jul 1996 14:33:30 +0800
To: Jonathon Blake <BMCarpenter@trevecca.edu>
Subject: Re: Credit Card to eCash
Message-ID: <2.2.32.19960722205945.00d1b3e8@mail.teleport.com>
MIME-Version: 1.0
Content-Type: text/plain
At 02:08 AM 7/22/96 +0000, Jonathon Blake wrote:
> 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.
I find that interesting, since I can do the same thing with a bank machine.
(Or maybe it is only money laundering when you don't get your picture taken
as part of the process.)
The only problem I see is that charges to a credit card can be withdrawn by
the customer within a certain time period after either the billing or
transaction. (I do not remember which. It has been a year or two since I
have been responsible for CC transactions.) The individual could always say
"It was not me" and get away with the e-cash. Sounds like a BIG risk for
anyone setting up such a site.
> 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.
That is the big problem with e-cash as it is... Not everyone has a major
credit card. Not everyone is willing to go through the hastles and invasion
of privacy involved to set up an account with an e-cash provider.
When getting e-cash is as easy as getting a money order, then there might be
more interest.
---
Alan Olsen -- alano@teleport.com -- Contract Web Design & Instruction
`finger -l alano@teleport.com` for PGP 2.6.2 key
http://www.teleport.com/~alano/
"We had to destroy the Internet in order to save it." - Sen. Exon
"Microsoft -- Nothing but NT promises."
Return to July 1996
Return to “Alan Olsen <alano@teleport.com>”
1996-07-23 (Tue, 23 Jul 1996 14:33:30 +0800) - Re: Credit Card to eCash - Alan Olsen <alano@teleport.com>