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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Flynn who wrote (6414)	1/28/1998 11:43:00 AM
From: Hockeyfan	Read Replies (1) \| Respond to of 26039

MANDATORY READING FOR IDXFANS VeriFone Tests Payment Plan This article puts things in perspective and describes the sequence of events needed for Ecommerce to happen. Initial trial will use PINs only. techweb.cmp.com Key to the pilot application is the use of personal identification numbers (PINs) linked to the digital wallet. Since consumers are familiar with using PINs at automatic teller machines and telephone response systems, VeriFone and Gemplus are hoping it gains a foothold on the Internet as a way to unlock encryption and authentication processes. While the France trial is significant, digital wallets based on SET 1.0 and smart cards have miles to go before they gain widespread acceptance on the Web. For starters, the SET 1.0 protocol is unwieldy, making it difficult for banks to develop applications. In fact, no operational deployment of SET 1.0 yet exists in North America. In addition, smart cards require smart-card readers on the consumer's computer--hardly standard equipment on most machines. Finally, credit-card associations such as MasterCard and Visa International have yet to give merchants substantial incentives--such as reduced interchange rates--for handling transactions via SET.