The Green Sheet Online Edition
March 08, 2010 • Issue 10:03:01
10 Years ago in
The Green Sheet
#h4 Beam my payment up, Merchant
As an alternative to smart card technology, and to dramatically reduce the costs and risks of financial transactions, Infrared Financial Messaging (IrFM) technology was being considered for an end-to-end digital payment system in which all transactions would be digitized at the POS, and consumers would receive digital receipts on IrFM-enabled handheld devices.
#h4 1-click, 2-click
The first round of a federal lawsuit over "1-click" online ordering was decided in favor of Amazon.com Inc., which was awarded a patent for the technology in September 1999, two years after it introduced the technology. Barnes and Noble Inc. immediately began requiring its e-commerce customers to confirm order details and shipping address on a second screen.
#h4 Sunshine on ECHO
The Electronic Clearing House Inc. (ECHO) established a business relationship with Nature's Sunshine Products, a direct marketing organization. ECHO thus began offering merchant accounts to Sunshine's 19,000 active distributors of nutritional and health products.
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