Note in a bottle
Purchasing 'on line' creates quite realistic anxiety - your credit card and personal information might be misused.
In existing Internet payment mechanisms, consumers are required to supply financial information when making payments on the Internet. They have little control over how their information is used by merchants. Further, recent attacks on Internet commerce sites demonstrate your vulnerability to leaving credit card number traces who-knows-where on the Internet.
Transaction security: the biggest problem is that transaction information is persistent -- it sticks around on a computer as stored data. There's no practical way around that.
My project ensures anonymity of the buyer vs. vendor or service provider. It can multyfold the volume of e-comers.
Imagine - on the screen of a merchant/provider there are icons of the banks and/or credit cards. You click on it and link both yourself and the provider with the financial institution where both of you have to have the accounts (as it is at present). The money transferred without anyone but your bank/CrCard knowing your personal data. Basically - it's an Interak over the internet.
There already are services which SEEM like the above ("e-wallet", "paypal" etc.), but it creates a double jeopardy, because you have to give to THEM your data and then they'll give it to the merchant.
I've tried to communicate this idea to the banks and credit cards executives.
So far ALL the bankers, accountants and business people - from ordinary executives to senior vice presidents immediately recognize the benefits of this system and tell me that they don't understand why it's not implemented, but when I've approached the Cr. Card companies and The Banks - nobody GETS it. They refer to those "e-wallets" etc. as already existing mechanisms and refuse to see the difference. I've given up.... It's been a few years since I've offered it. Some people say - it's because they can keep your money in the interim - before they pay it out, but they still can do it with this system.
M Y S T E R Y!
Well - this is  a note in a bottle......

Here is another way to express the same idea:


Customer (C) is offered on the screen by the merchant/service provider (m/sp) icons of the credit cards and other banking institutions where m/sp has an account.
Those icons are links to the financial institutions which immediately recognize the m/sp. C prints on the screen of the institution their CrCard/account number, pin and/or other identifying data and the amount to be transferred to the account of the m/sp, which is done automatically by the computer.
M/sp never gets any banking info of the C. The financial institution conducts all the interaction internally. Therefore C is completely protected. Much like in the "INTERAK" or in the supermarket debit/credit card operation.
Financial institution gets manifold business from otherwise reluctant C's. And the operation is simplified for everyone involved - one step vs. three steps.
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