Originators issue, control, and redeem cash in a specific currency. They operate in conjunction with members licensed within their territory Members are licensed by franchisees to issue cards to cardholders and merchants within their territory. Fees, Costs, etc. Merchant installation costs are roughly equivalent to those required in setting up credit card acceptance services. If merchants aren't already SmartCard capable, they'll need to install readers and systems to communicate with their member to deposit the cash receipts.
Cardholders pay nothing for cards from issuing members of the scheme.
Mark Merkow is an E-commerce Security Specialist and technology author. His books include Building SET Applications for Secure Transactions , Thin Clients Clearly Explained, and Virtual Private Networks for Dummies . His latest book, The Complete Guide To Internet Security comes out in June 2000. Related Links ECommerce Webopedia Search our new encyclopedia and navigate the seas of ecommerce jargon. Discussion List Interact with other ecommerce professionals.