Sunday, March 09, 2008

3V

Here is an interesting idea. Bascially you buy vouchers at payments points which can then be used to buy goods and services online.

Each voucher you purchase has a visa number on the receipt the expiry data and cvt2 are sent to your email or mobile phone. These are the three details needed to make purchases online.

Unlike some other payment cards this can be used at any site that excepts Visa. While this does look like a coinvent solution for people whom don't have or cannot get a credit card there do seem to be a few little quirks. The actual physical card is only used to purchase vouchers each voucher has its own visa number and while you can move money from one to another there is a £1.75 charge. Some of the vouchers themselves have a charge to purchase and the maximum amount that can be used cannot exceed £200's

Further more like the pre pay mobile phone vouchers this scheme is clearly based around the vouchers have an expiration after which their value drops to zero.

You could use these for anonymous online payments couple with an unregistered pre pay mobile phone.

Over all I think this is an interesting but expensive and fiddly system which isn't worth it for the average person. Given one of the pay points local to me is a high school they are clearly targeting young people who are used to buying top up for they pre pay phones and cant yet get a real credit card. They might also be useful for people paranoid about fraud shopping online after all the maximum you can lose is the vouchers value.

One thing to note as these are not real credit cards you wont be protected by section 75 of the consumer credit card act so if you were buying items and they arrived damaged you would not have the credit card company to back you up.Here is an interesting idea. Basically you buy vouchers at payments points which can then be used to buy goods and services online.
Post a Comment