jmhollen and Lazarus, please help me/us put our arms around the scenario you are discussing.
You're referring to an ATM card. Does this mean that the financial transaction must, out of necessity, be directly supported by a banking institution, or could it be third party? Fourth party?
I would think that e-tailers who support ATM debiting with e-commerce gateway services on the back ends of their web sites which go to transaction processing companies (e.g., First Data) would be able to have First Data Corp or whomever perform debit functions without the direct intervention of the ATM card issuing bank, if such arrangements were put in place in a contractual manner. Or, do I have something backwards here?
jm, you made reference to certain regs governing authentication procedures. Whose regulations are those? Or, are these instead industry-stipulated standards, a la ABA recommended practices? Or both?
If need be, kindly set up the situation for us with all of the players, describing how they each relate to one another and what takes place, step by step, if you would.
Anyone else who could offer assistance here, please join in. TIA.
Regards, Frank Coluccio |
