Feb
25
Exchanging a Dollar over the Internet.
I’ve been thinking about money again. Not that I spend a lot of time thinking about it; but, it is related to payments.
Automated Clearing House (ACH), Credit Cards, Debit Cards etc… all these seem really confusing when compared to cash. ACH or electronic checks—wow—now that’s confusing: Routing Numbers, Account Numbers, Check Numbers, it seems that is the only the start of confusion.
What about authorization and settlement of credit cards? A Business may need a swipe terminal or some other device to just to get an authorization. Then there’s settlement. It only gets worse from there: Batches, PCIDSS and the list goes on.
Is there anyway to make this all easier and less expensive?
Why not exchange a dollar over the internet?
