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.
Microcap & Penny Stocks : ALYA Cost cutting system via software as well as security
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: TLWatson59 who wrote (2035)11/13/1998 8:42:00 AM
From: John S. Baker  Read Replies (1) of 2534
 
Following your thought re checks ... though they've been around for several thousand years <factual grin> ... some of us with experience in the credit card business recall the introduction of the now-ubiquitous electronic terminals for swiping credit cards. In the earliest days, merchants really balked at the need to pay real money for such a terminal and at the relative uncomfortableness of not being able to deposit pieces of paper into their checking account.

What suddenly made the difference?

Banks realized that they needed a critical mass of users, and they needed it in a hurry. So they condoned the establishment of strong, motivated sales forces (built by third-party sales organizations) and they established the concept of commercial leasing of the equipment. Now the merchant pays only $25-50 per month for his equipment, but the sales rep makes as much as several thousand dollars immediately.

Result: motivation to achieve instantaneous critical mass.

So far, the test cases of smart credit cards in Orlando, Guelph, and New York City have not been real successful, and it appears that lack of critical mass is the challenge.

Ethical note regarding leasing of credit card equipment. Unless the merchant is direly strapped for cash, it usually is not in his best interests to sign a commercial lease for this sort of equipment. He is better borrowing the money somewhere else and paying cash. Details gladly to anyone by P-mail or E-mail.

JSb.
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