I recently discovered Virtual Money, Inc - a way to store money without a bank. They issue ATM cards that are not attached to a bank. Security is as good as any other ATM card - a PIN is issued. However, most VISA debit or ATM cards can also be used as a credit card, without a PIN. Payment would be accepted at any PoS that accepts ATM Cards for payments.
A nifty idea I thought.
Tuesday, July 29, 2008
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