Credit card security rules to get update

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Credit Cards not needed for on-line purchases

About 3 years ago, most of the 6 largest banks started an e-mail payment program. You e-mail the amount you want along with a security password for this transaction only. The merchant, who is given the one-use only password by phone or fax.
When the e-mail arrives, he applies the password and the e-mail is deposited at his bank (physically or online). Once the money is in his account, the data he might collect is of no value because the password is single-only and cannot be reused.
It works great for sending money to your college attending children, but very few on-line merchants are able or willing to accept e-mail payments.

Posted by: jack@...   Posted on: 06/21/06 You are currently: a Guest | Members login | Terms of Use

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