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Glenn Barry
 

Net Credit Card Credibility Boosted

22 December 1998

It seems that the credit card industry has woken up to the fact that the Internet will make them squillions. Short of some major breakthrough acceptable to the masses, the only practical way to transfer funds online is by credit card.

There are some concepts floating around that the technically minded can use. I have downloaded Cryptologic's Ecash software but then 98 crashed on me and I just have not gotten around to reinstalling it. Nor can I find the motivation to send them some cash by wire to enable the account. I did make a backup disk but that's missing in action after doing a post 98 crash software reload.

Compared to a straightforward and readily available credit card, most Ecash type payments are a pain in the butt to set up. Not to mention, after years of living with computer crashes, I don't have a lot of confidence in anything that must reside in my system to operate.

The New York Times has reported that the card companies are promoting buying online as distinct from the scare campaigns we have seen so much of. Even a few weeks ago the Australian Commonwealth Bank sent out a warning message saying to be very careful of using their cards online. They quickly backtracked when the ecommerce lobby screamed blue murder. No wonder Joe consumer is confused.

The Times says that Visa and eToys have launched a Christmas advertising campaign for online shopping, and that MBNA (the credit card monolith who issues Visa and Mastercard) has taken a pro online credit card position.

With the marketing muscle of the CC industry behind online transactions, consumer concerns are likely to wane and that's good news for online commerce.

Net Credit Card Credibility Boosted is republished from iGamingNews.com.
Glenn Barry
Glenn Barry