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New Online Payment option in Holland
4 Big Dutch banks launch a new payment option. Payment by ATM card.
The new system allows surfers to make online payments with their normal
ATM card. The system interfaces with their online bank account. Upon
payment the system connects to the online bank account of the user.
The user logs in, verifies the data by swiping his card through their card
reader, insert their pin code, key in a challenge code and respond with a
1 time response code to complete payment.
This system will allow surfers that don't have a credit card to make realtime
online payments. The costs are fixed rate ?0,70 per transaction. This could
be an interesting development.
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