<i>>Most big-ticket sales are made on account, with invoices and payment</i>
<i>>being exchanged later. I think the biggest impact that the Internet</i>
<i>>will have in years to come will be on this kind of business .</i>
Although I think invoicing for payment later will will be around for some
time, the use of " e cash" will play a significantly larger role over time.
Quality accounts receivable, collection costs, stolen credit cards, greater
security advancements, smart card (online to offline) developments and more
will all contribute to the market shifting to the use of e cash as a means to
effectively pay for products and services over the Internet. If you do not
believe me, just check out what Mastercard and Visa is doing with both
standards that they have developed together (a first for them) for the
Internet as well as the EMV standards that they have developed for the use of
smart cards as cash.
As much as we may want to hang on to what we are used to, when the 100lb
gorilla comes knocking our door, he is going to get in.
Ben Smullyan
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