Restore Online Shoppers? Confidence Act
 

Restore Online Shoppers’ Confidence Act.

http://www.shoemoney.com/2011/01/03/...ome-criminals/

This is HUGE if true. (Don't know if this has been posted yet.)

* The bill expressly prohibits data transfer of any consumer financial information for the purpose of billing a 3rd party transaction. For post-transaction upsells, billing information has to be re-collected. Ouch.
* The bill requires material terms of all negative option offers to be disclosed prior to the collection of consumer billing information.
* The bill includes references to credit, debit, AND bank account information (meaning that the ACH and check 21 billers in the industry are no longer off the hook.)

When you do an upsell or rebill with 3rd party biller like for example ccbill, data isn't "transferred" it just gets billed again...

so what makes this so "HUGE"?

It seems to be true...

http://politics.nytimes.com/congress/bills/111/s3386

This isn't actually that big of a deal...it does put a crimp in cross sales, but we knew the time for that was kind of short...it's all about passing data to a 3rd party. This doesn't mean you can't have upsells. You just can't pass the credit card number, etc. Those have to be manually put in again. It doesn't affect stored card numbers, one-click checkouts or whatever amazing has.

Is it going to affect some companies more than others? Sure, but overall, it might be a good thing for the industry.

Yeah nothing major here unless you were doing something wrong in the first place.