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Re: WebATM and Inferno?
- To: Porttikivi Anssi NRC/Hki <firstname.lastname@example.org>
- Subject: Re: WebATM and Inferno?
- From: Gary Cronin <email@example.com>
Reference: WebATM background http://www.webatm.com/busplan.html Porttikivi Anssi NRC/Hki wrote: > Well, all the luck to your project, > although I don't believe in it. Anssi, Take a look at our business associate Dereck Clark's patented "PC Pay(TM)" device, at http://www.innovonics.com/pcpay/pcpayhome.html Dereck has pounded the bricks for several years trying to convince the major bankcard switches (private bank ATM networks) that this hardware-based system is secure enough for EFT via the internet (home banking, ATM debits, etc.) and he has finally succeeded. Star Network and 4 others have certified the device. I told Dereck yesterday that the he should look seriously into Inferno for the future. Our plan is to build a WebATM "hub", if you will, where all server-side security is centralized, with off-Web links to all the major proprietary ATM switches and/or individual banks. We would then offer the liability protection that is today available only in the credit card world ("charge-back"), called "WebATM Shield" -- a fairly simple risk management/liability coverage system to protect merchants, banks and users. The initial watermark of "WebATM Shield" is an absolute limit on transactions, probably $50 per day, per user. We would then offer branded versions of the "Pay PC" device to all subscriber banks for free distribution to their bank ATM cardholders. And we would offer to all merchants, everywhere, free "virtual POS" code set-up with the WebATM Network. The immediate saving to a medium-sized web merchant is about $20,000 US, because the entire shopping/payment processing system resides at the WebATM server; a merchant merely provides a simple WebATM "pay window" in order to link shoppers to us for final payment/card clearing. The shopper would use their own "remote" WebATM device (Dereck's device) for card account and PIN entry. See, again, our java interface module at http://www.cisc.com/dbank/xyz.html which would "speak" only to the client-side-connected hardware device, for user authentication, etc. The same is true for ALL subscriber banks. They keep their existing ATM EFT protocols and need not adapt everything for the internet. We adapt to them, not vice versa. Banks can thereby easily provide home banking, bill paying, etc., over the internet. Savings per bank: $100,000 - $millions, depending on the size of the bank. The revenue stream for the WebATM is extremely simple; fee-per-transaction, only. No set-up charges and no grossly expensive hardware/software/security "e-commerce" systems to sell to subscriber banks and merchants. If Inferno is all that you say it is, Anssi, what would be your advice regarding setting up and testing a prototype WebATM client-server system using Inferno, including Dereck's PC Pay device for all client-side authentication? Gary -- =================== F R I D A Y A S S O C I A T E S =================== Gary Cronin, President Friday Associates 802-658-0426 125 Bank St. fax 802-658-5303 Burlington, VT 05401 (USA) mailto:firstname.lastname@example.org W e b A T M http://www.webatm.com V e r m o n t W e b http://www.vermontweb.com ===============================================================