There is a mechanism for this - although it is probably not as you envision
it.
Consumers can get cash from the store clerk when they swipe their debit
cards. The additional cash given to the consumer is added to the ticket
amount and settled via the debit networks.
Discover Card in the U.S. also permits this on its credit card with some of
its supermarket merchants.
Anders Rundgren
<anders.rundgren To: internet-payments
<[EMAIL PROTECTED]>
@telia.com> cc: (bcc: Philip
Bruno/NYO/NorthAmerica/MCKINSEY)
04/19/2002 06:28 Subject: Basic credit-card payment
question
AM
The common way to perform credit-card transactions is that the
merchant initiates the payment with the help of the customers' card (data).
Do credit-card enabled merchants have any possible way to receive
money through the credit-card networks through an off-line
operation performed by the customer though his/her issuer?
I.e. an account-to-account transaction run in the other direction?
That would be terrific!
Anders
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