Re: A credit/debit card reader for the home ??

Security is indeed the problem.

However, this is a method that is workable, for now.

I know that several supermarkets in the area sell Visa cards with $100
pre-loaded onto them.  As far as I know, you can also top these cards
up, or add additional currency to them.

So, you are at least protected to a certain extent, this way...



On Wed, 23 Sep 2009 11:00:44 -0400
William Case <[email protected]> wrote:

> Hi;
> 
> Just had a thought!  But it has probably been thought before.
> 
> I was about to buy a magazine article from Scientific American.  They
> wanted $7.95 which I was willing to pay.  Of course when I clicked on
> the appropriate screen button to purchase it, they wanted credit card
> info.  I have used my Visa to purchase online before but I am always
> very reluctant to do so.  In this case I cancelled my purchase.
> 
> What I think would work for me is having a personal card reader attached
> to my computer.  If I wanted to make an online purchase, the
> communication of account numbers and passwords would be directly between
> me and my bank with only the purchase amount and name and some kind of
> purchased item ID being transferred to the vendor by my bank.
> 
> Similarly, I could then use a 'cash' card.  A cash card would be a
> swipe-able card to which I could transfer an amount from a bank account
> from home using my home card reader, debit/credit card and the cash
> card.  While I am out at a restaurant, bar, store etc., any vendor would
> have access only to the amount of money registered on the cash card and
> would deduct the amount spent from the cash card total.  If the cash
> card were lost or stolen, only the remaining amount on the cash card,
> plus the cash card passwords would be at risk.  I would have to keep
> topping up the amount on the cash card, but I could do that safely from
> home.
> 
> Of course, I don't understand all the security problems this might
> introduce, but on the surface, it would make me feel as if I was in more
> control of my money and transaction security.
> 
> I would really like to see any thoughts, criticisms or comments anyone
> might have.
> 
> -- 
> Regards Bill
> Fedora 11, Gnome 2.26.3
> Evo.2.26.3, Emacs 23.1.1
> 
> -- 
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