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Re: WebATM and Inferno?



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:gcronin@together.net

                           W e b A T M   http://www.webatm.com
                  V e r m o n t W e b   http://www.vermontweb.com
===============================================================