Yesterday's news and re-inventions that have been submitted to the Creativity Pool. See what they look like and where to get them.
By Alonzo
#68
Problem:
1- not everyone has a credit card
2- many people are afraid of 'rip off' activity on the internet.

Solution: Market an internet 'top up' scratch card, exactly like they do for pre pay mobile phones, these can for simplicity be in various denominations to match the intended purchase.
a- the rip off risk is limited to the amount of the voucher
b- people will have full confidence in the transaction
c- no need for high levels of encryption
d- the vendor has security of payment
e- the revenue is up front
f- the software and admin are already created in the mobile phone industry.
By Tony Ogmundson
#287
I think this is a terrific idea. It solves one of the two biggest problem I have with buying on the internet. I'd prefer to use this sort of payment method over a credit card to limit my exposure to theft.

An alternative or modification would be to log on to your bank's secure web site, transfer some money into an "Internet Purchases Account", and then use a unique identifier assigned to that account and a Personal Identification Number for security to complete your internet purchases.

Now if only you can get the sellers to update their databases and tell you when your stuff will ship.
By Sue Jay
#288
This system is already being tested by Barclaycard in the UK and a number of other card providers under their e-commerce initiatives. It is, I think already available in limited test areas, as there is money to be made you can be sure Barclaycard will make the most of it!!
By Andrew Adler
#289
Both Visa (Visa Bucks) and Amex (via 7-11) are now offering these cards. It is a great idea, had it a few years back and no one I submitted it to took interest. speaking of interest, the interest float, is where they really clean up on these types of cards.
By will
#290
paypal. they give you a debit card in which you can deposit funds into. they also look into fraud in your card. all you need to deposit funds is a bank account. else, other people can SEND MONEY TO YOURS. aka, give them the money they transfer it to your account. its safe and reliable. they even send you a card for atm/purchase use. not sure on visa or mastercard, its one of them. used on ebay alot, without the card, other places u use the debit number. COSTS NOTHING!!!
#22276
In fact there is something already in place for this sort of issues...

In Portugal, all banks are connected to something called MbNet.
It is a service that creates valid credit card numbers that can only be used once. They work more or less the same way as you described.
You can access your online banking, or go to an ATM and request a new virtual credit card with a maximum amount you define.
The values you get (credit card number, expiry date and confirmation code (those 3 digits in the back of the card)) can only be used once.
As soon as they are used, they become invalid and you can used them in the same way you use any VISA credit card.
#22683
Well... not really... not all sites support paypal payment... plus, you're providing paypal with access to your account... in this system, it is simply handled by the card issuer, in the case of the Portuguese system, SIBS.
Paypal is good, don't get me wrong, but the level of abstraction in that sequence is just too far up the food chain for it to be a painless/seamless process...
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