What if we created a new online credit card?
 

What if we created our own online credit card? We would loan money at 10% acceptable at any major online merchant. In the same way VISA and MasterCard are linked to PayPal we would offer ours.

Webmasters would promote the new consumer loan cards to surfers for a commision. The surfer would be issued a real plastic card in the mail based on credit history. Credit limits could be limited to $500-$2000 to avoid huge fraud.

At the time of purchase the surfer would enter the card number and CVV. The payment would issue a counter-challange and the surfer would enter a P.I.N. This would lead to extreme low fraud and zero chargebacks.

I imagine this would be the same size and scope a that a major market retailer deals with in a private label creadit card.

it will come, soon :thumbsup

If you do it, make it NO CHARGEBACKS even possible. Make it like cash, if you arent happy with what you bought too fucking bad, deal with the merchant.

good idea :thumbsup

it's a simple concept that would work great, but it would require a pretty huge investment with the potential risk of losing thousands of dollars daily on fraud and bad loans.

but like bdjuf said, i could see this as a possibility in 5-10 years.

Already being done at
http://www.cnwb.com

https://www.cyberagecard.com

I saw this at the Internext. Has Paycom or CCBill come on board?

It's from Adam & Eve:

http://www.avnonline.com/issues/2003...123003_7.shtml

Sounds promising...

Won't work.

I think it can work. It'll be a big struggle at first. They are going to have to get both new card holders and new merchants. If they market it right, they'll have something. Especially if Visa and Mastercard get out of the adult business or especially any internet business.

that could work, but it will take a lot of work to get it to work

Awesome idea in theory. Might be hard to implement without a huge amount of startup capital.

lets just popularize discovery card.

nothing like this will happen until technology is made to certify identity over the internet.

some stuff has been done such as having virtual signatures but until it is included onto all computers it wont have as good of an effect.

i dont think anyone can take out visa.