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Technology Stocks : CheckFree (CKFR)
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To: jjs_ynot who wrote (2187)3/3/1998 4:56:00 PM
From: BitWizrd  Read Replies (1) of 8545
 
>>>But as a bank would you tolerate a system that basically takes you
out of the transaction processing loop. That is the question banks
have to ask themselves. The bank quickly becomes a redundant entity
in the payment process under the MSFDC model.

<<

Too late!

Funds can be debited from a DDA account (ie a checking account) without the bank's foreknowledge or consent. Only the consent of the account holder is required. Doesn't matter who is doing the debiting, MS or CKFR. In this respect, perhaps the banks should fear both equally.

The difference is in the approach. CKFR offers the bank a turn-key solution that helps the bank profit - not from the transaction directly, but in indirect ways, like customer retention and other service fees.
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