by Elaine Larkin
AIB is to introduce an "on-line virtual laser card" as an alternative to paying for goods and services on-line. Although no date has been set for the introduction of the service, it could be available within the next year. According to David Roberts, AIB Internet Marketing Manager, the service would offer an Internet payment capability which would extend beyond the use of a credit card for on-line payments. AIB is currently examining the technological impact of such a service.
Roberts said that it is clearly a potential application for Orbiscom technology. Orbiscom developed the technology behind AIB's recently introduced Transactonline service, which provides security by using one-off credit card numbers to complete transactions. Software in the AIB system transforms the real credit card number into a transaction-specific number, which is only valid once, and is only valid for a specific transaction and a specific vendor. The proposed service would be suitable for adults who do not particularly like credit cards, and for students who traditionally in Ireland would not have credit cards.
Roberts suggested that the money for on-line purchase could be debited directly from a user's bank account, as with in-store purchases using a laser card. According to Roberts it effectively gives people the use of a credit card without giving them the credit. Bank of Ireland is also believed to be looking into the area of other payment options for on-line purchases, but would not reveal more precise details.
Study-books.com, a recently launched Web site dedicated to selling course books to college students at discounted prices, told ElectricNews.Net that it is interested in getting involved in a new disposable pre-paid credit card / charge card, which encourages buying products on-line. The site currently accepts credit cards and laser cards and is bringing in a cheque option over the next few weeks. The introduction of a virtual laser card would mean that students without a credit card could still buy on-line.
