SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Frank Coluccio Technology Forum - ASAP
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: jmhollen who wrote (471)11/25/1999 10:16:00 PM
From: ftth  Read Replies (1) of 1782
 
Hi John, to some extent SET (secure electronic transaction protocol) addresses at least some of the same issues (i.e. merchant never gets cardholder info and cardholder info is never "in the clear") and has the backing of Visa and Mastercard. It is quite an elaborate and well-developed system, with entire text books devoted to it.

Problem is, there's no incentive for merchants to change their existing systems. As time goes on and the acceptance of SSL-based internet transactions gets stronger (SSL is what you use now to buy things over the internet, although it's essentially invisible to the user despite the fact that there are a number of levels of security settings and "most secure" is not the default), it will be much harder for anything to supplant it. It is also not portable.

I see the same acceptance issues (on both the merchant and cardholder side) with e-connect's system, but correct me if I'm mistaken. I'd also tend to think they'd need the backing of Visa and M/C in order to function in the credit card intermediary role, and it would seem unlikely, based on the extensive efforts Visa and M/C have put into SET, that they would be in a good position in that respect.

BTW, on-line accounts can be set up to transfer funds from a bank to a brokerage account now (for no fee), without the need for any added hardware or software. Takes all of 2 minutes to set up initially.

hope all had an enjoyable turkey day,
dh
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News