Re: ECONOMY: The Absurdity of Merchant Account Requirements

Peter C. McCluskey (
Wed, 2 Sep 1998 11:21:06 -0700 ("my inner geek") writes:
>In order to have an automatic form on-line that processes credit
>cards, you need to have a "Merchant Account" at a bank.
>This is a policy that is very unfriendly to e-commerce.

Some extropian types at Agorics are working on a way for anyone with a bank account to send or receive electronic checks. See:
and There are enough big banks involved in this project that it is likely to catch on for large users. Whether the bankers will make the UI or API awkward enough to deter individuals from using it is unclear. I don't know when it will be possible for individuals to try it out.

Peter McCluskey          | Critmail ( | Accept nothing less to archive your mailing list