4) The deal is done. The user is automatically redirected to the e-merchant’s website
The e-merchant’s Four Targets
1) To gain the client’s trust in one’s commerce by providing an anonymous, confidential and secure payment system. Retain existing clientele and reach a new one
2) To be able to sell one’s products to all people without any problem.
1) To be guaranteed a definitive payment
2) To gain investors’ or partners’ trust in one’s business
1) The card’s account is deducted along with the purchases. After spending all funds available, the card is worth nothing and can be thrown away, or eventually refilled with credit
2) In order to purchase a more expensive item, several cards may be added together to reach the target price.
3) Loans and gifts are easier to manage and to provide, especially for companies (secretary’s purchases, for example)..
4) In case of loss or theft, usage of the card and therefore access to the money are limited to its stated balance ONLY. The owner’s identity is not exposed.
5) In case of piracy, or misappropriation of the code, the sum that may potentially be lost is limited to its remaining balance ONLY. The loss is therefore limited, and the owner’s identity is not exposed.
In these cases: = > No formalities => No constraints, => No stress.
Confidentiality is often necessary. It is here guaranteed by the card’s anonymity.
For example, many visitors of Gambling and Charm websites would like to keep their identity hidden. This feeling is likely to concern a large number of people, as those two industries (Gaming and Sex) represent the most important markets over the phone and the Internet. This worry currently applies to classic banking card owners, concerned about identity exposure and theft.
A Democratic Access to Consumption :-
Youngsters and other people that are likely to be denied the right to use bank cards will now be free to shop remotely with access to a universal form of purchase power.
For the user: Consequences of loss, theft and piracy are limited to the value of the card.
For the merchant: Payment is guaranteed by the paying institution, as long as the credit associated with the given code is available. If credit is not sufficient, the merchant is notified in time to cancel the transaction.
No stress associated with the constraints of judiciary statements, insurance claims, or other procedures in case of loss, theft or piracy.
No anxiety associated with the risks incurred, and no contact can be made with the user’s identity or his private bank account.
Purchasing power is available to all, without the fear of being hacked, with the possibility to share a card among several users (loan, gift).
Gift idea, advertising support, reward for employees, etc.
Embezzlement is common and easy for hackers to operate on the Internet. But cracking the code of such limited credit cards can be a waste of time, especially if the card has already been used, making the piracy not so profitable, and considering the risk of being located and eventually getting caught
The system is easy to use, it doesn’t require any technical knowledge. The user doesn’t need a driver or any other special device, besides a connection to the Internet or a phone line.
A range of cards will be proposed to cover various standard amounts (20 $, 50 $, 100 $, or more). Hence, users can add several cards together to afford a large purchase.
1) Our card carries a code that gives access to a fixed amount of funds
2) It is totally anonymous; no name is displayed, giving absolute confidentiality
3) No need for a personal bank account
4) No need for a bank approval
5) No need for a driver/reader or any kind of hardware to read the card
6) Easy way to buy remotely
7) Technical planning is easy feasible
8) Banking planning is easy achievable
9) Simplicity for money transfers (the money comes in and out of one account only)
10) All payments are guaranteed to the merchant
Credit and debit cards
They carry a code inside an electronic chip, which requires technical devices (a driver/reader is necessary)
Bank approvals and multiple wire movements make the system complex and costly
A nominative bank account is required, which excludes anonymity for purchases.
The electronic chip requires complex technology and management, and can become unreadable if scratched.
Banking cards are easy targets for hackers, as simple programs of credit refill can establish contact with your private bank account.