Originally Posted by Webby

Inclined to agree!

One of the fundamental problems with third party processing is that there is nada protection/insurance for the clients of these companies.

In a way, they are almost like a bank in that their job is transacting other people's money, - but with no controls or oversight.

In the EU these types of companies are often regulated/audited by govt orgs and, who knows, but that may have something to do with iBill retaining operations in the US where there is no control over them.

Should these proposals happen, it may be the start of an improvement and may also be a scenario that may appeal more to banks to be involved in.

Either way.. I smell an increase in Euro transactions and also new transaction processing models in the EU and out of the hands of the North American VISA banking region - and, maybe at arms length with any card companies