Wave was partnered with Cendant for its software division to meter some its games. I believe CD sold that division off though, am I right?
The 23 million is obviously for something, but if it is for a credit card type project is not clear. What doesn't make sense to me is that Embassy was designed to work with credit cards. That is how Wave will avoid fraud. If they already have your money then you will be less likely to attempt fraud. Embassy in essence already turns credit card purchases into debit card purchases by consolidating all of ones microtransactions and debiting that total charge from one's "balance."
That's what makes it convenient and safe for the customer, content provider, and Wave.
If Wave were to align with a money-center bank or two then clients of those institutions could link their Embassy account to their checking account and therefore simplify the process by avoiding having to charge their Embassy balance to their credit card and then paying their credit card balance with a cheque from their checking account.
What I am saying is that a "credit card venture," if true, would be short-sighted and I don't believe the Spragues are short-sighted. They were five years ahead of the industry. I am not saying David is lying, I am saying that, if true, either I am misunderstanding David or David may be misunderstanding the "project."
JMHO,
Sophie |
