These are new product announcements from my main website (Open 24/7/365). We have a life-time warranty / guarantee on all products. (Includes parts and labor). Here you will find a variety of cutting-edge Surveillance and Security-Related products and services. (Buy/Rent/Layaway) Post your own comments and concerns related to the specific products or services mentioned or on surveillance, security, privacy, etc.

Sunday, January 05, 2014

Bitcoin Fixes All The Weaknesses Posed By Credit Cards And How Borrowers By-Pass The Banking Industry

Bitcoin Fixes All The Weaknesses Posed By 

Credit Cards
How Borrowers By-Pass The Banking Industry

The credit card has a lengthy history. One of the first iterations of plastic was actually made of sheet metal. It was called the Charga-Plate, developed in 1928. It was issued to frequent customers by merchants in the same way that department stores today give out credit cards.

To record a transaction a merchant would place the Charga-Plate into a device that allowed a paper charge slip to be laid on top of it. An inked ribbon would then be run on top of the paper, creating a record of the sale.

This method of credit card processing was used for years until the digital revolution arrived. After that, electronic card readers could harness the information from swiping magnetic strips through a machine, providing easier record keeping.

Then, the internet came along. And it didn’t accept cash, only payment information in the form of credit or debit cards. The credit card companies didn’t evolve their product along with the internet; they pretty much kept it the same. This has created a number of issues that prove how outdated the credit card has really become.

Transaction Fees

A major challenge in the internet era has been how media companies make money on this new platform. Advertising has played a major part, but its long-term effectiveness has been questioned.

Sure, e-commerce is an effective method of generating money on the web. But paying small amounts for media content has been a much harder challenge.

Consider the plight of many media companies that did not anticipate the digital age. If there were an easy way for them to accept tiny payments for their content, they would.

But credit cards don’t easily allow for that. Many processors charge a fee of $0.30 plus a percentage off the top of a transaction. And payment processors often consider a microtransaction as a payment of less than $5.00 yet that really does not seem “micro” at all.

Credit card processors must make money in the form of transaction fees. That’s their business.

But their ongoing model for small payments is outdated. This is evident when you go to a store that charges a fee for a particular transaction threshold, such as for less than $5.00.

In a world where cash is becoming scarce as more people prefer plastic, credit card companies must learn to adapt to a newer fee model, or be overtaken by digital currencies like bitcoin.


Another problem with credit cards is all the information that is contained within them. Companies increasingly want to boost revenues by collecting purchasing information.

The theory goes that with this information they can glean insights on customers that will help to sell more goods and services. More goods and services can mean more revenue, which keeps stockholders happy.

The problem with that is many customers don’t want to have that information given out to other companies that then might try to get them to buy additional products and services.

Yet credit card providers already have been selling advertisers credit card purchasing information, a veritable treasure trove of data for marketers to mine through. The Washington Post has previously reported that companies have nicknames for ranking customers:

Consumers have very little choice in this matter. After all, how can you pay for things on the internet without a credit card?

One company, called MaskMe, allows users to create disposable credit card numbers when making purchases online. But that’s a time-consuming method.

Many merchants accept PayPal linked to a bank account, yet many still are uncomfortable with a direct link to their banking data.


Credit card fraud continues to be a problem. In fact, this has been an issue since the 1990s when AOL wasn’t even confirming credit card numbers at the time of sale.

Vinny Lingham, the CEO of gift card purveyor Gyft, has to deal with credit card scammers all of the time. He has regularly told audiences during events he speaks at that his company sees zero fraud from accepting bitcoin as a method of payment.

Yet Gyft must contend with credit card fraud on a daily basis.

Gift cards are a resource for thieves to transfer the value of stolen credit cards over to something that appears more legitimate. What this means for the consumer is higher costs overall, for everything, because of all of these scams.

The recent news of the Target theft of payment details from over 40 million credit/debit cards also highlights this problem.

That so much information was stolen shows just how fragile the existing system is as it stands. eWeek reported that the magnetic strip on the credit cards was the Target vulnerability.

Richard Crone, a payment consultant, recently told PaymentsSource regarding the hack:

“If the payments industry was starting from scratch today, no one would pass actual payment credentials through the point of sale.”


Credit cards were not built for the digital world that we live in today. Rather, they have been adapted to become the standard that we use for buying things online.

We don’t even need the cards to buy things online; this is why digital currencies like bitcoin offer so much promise. Yet in the eyes of the banks and credit card processors, they pose a problem.

The payments industry may have no choice but to start from scratch.

Many credit card companies are now realizing that mobile and contactless payments are the future. Yet the prospect of personal information being sold or even hacked in new and different ways is still a threat with this new paradigm.

This is why the disruptive qualities that bitcoin presents to banks should actually be considered as an opportunity rather than a threat. It’s a value proposition for merchants who are fed up with chargebacks.

It can be a more private method of payment than what the credit card companies are currently offering.

The fact of the matter is that there is always going to be that risk of fraud or theft. But as a purchasing method, bitcoin should be considered an innovative framework that could be more successful over current payment options for the internet today.

Monty Henry, Owner

Some of Our Latest Articles:

Mixing Services Add Complete (NSA-Proof) Anonymity To Bitcoin Transactions


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NOW, look in on your home, second home, lake house or office anytime, anywhere from any internet connected PC/Lap-top or Internet active cell phone, including iphone or PDA: http://www.dpl-surveillance-equipment.com/wireless_hidden_cameras.html

Watch your child's caregiver while sitting at a traffic light or lunch meeting, or check on your business security from the other side of the world. Our built-in hidden video features all digital transmissions providing a crystal clear image with zero interference. With the IP receiver stream your video over the internet through your router, and view on either a PC or smart phone. Designed exclusively for DPL-Surveillance-Equipment, these IP hidden wireless cameras come with multiple features to make the user's experience hassle-free.

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DPL-Surveillance-Equipment's layaway plan makes it easy for you to buy the products and services that you want by paying for them through manageable monthly payments that you set. Our intuitive calculator allows you to break down your order's purchase price into smaller payment amounts. Payments can be automatically deducted from your bank account or made in cash using MoneyGram® ExpressPayment® Services and you will receive your order once it's paid in full. Use it to plan and budget for holiday purchases, anniversaries, birthdays, vacations and more!

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If you're drooling over a new nanny camera, longing for a GPS tracker, or wishing for that spy watch, but you're strapped for cash and can't afford to do credit, do what Jennie Kheen did. She bought her iPod docking station (hidden camera w/motion-activated DVR) online using our convenient lay-away plan.

Our online layaway plan works like the old-fashioned service stores used to offer. But, in Kheen's case, she went to DPL-Surveillance-Equipment.com, found the iPod docking station (hidden camera w/motion-activated DVR), then set up a payment plan.

"It's automatically drawn from my account," she said. "I have a budget, $208.00 a month.

In three months, Kheen had paid off the $650.00 iPod docking station. She paid another 3.9 percent service fee, which amounted to about $25.35 (plus $12.00 for shipping) for a total of $687.35.

"You pay a little bit each month," Kheen said. "It's paid off when you get it and you don't have it lingering over your head. It's great."

Flexible payment terms and automated payments make our layaway plan an affordable and fiscally responsible alternative to credit cards.

1. Register:

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More Buying Power:

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Freedom From Credit Cards:

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Flexible Payment Schedules:

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A Tool for Planning Ahead:

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DPL-Surveillance-Equipment has partnered with trusted experts like McAfee and IDology to ensure the security and integrity of every transaction. Identity verification measures are integrated into our e-layaway system to prevent fraudulent purchases.

Note: Simply Choose e-Lay-Away as a "Payment Option" in The Shopping Cart

DPL-Surveillance-Equipment.com is a world leader in providing surveillance and security products and services to Government, Law Enforcement, Private Investigators, small and large companies worldwide. We have one of the largest varieties of state-of-the-art surveillance and counter-surveillance equipment including Personal Protection and Bug Detection Products.

Buy, rent or lease the same state-of-the-art surveillance and security equipment Detectives, PI's, the CIA and FBI use. Take back control!


Phone: (1888) 344-3742 Toll Free USA
Local: (818) 344-3742
Fax (775) 249-9320


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