NEWSTREAM -- City-Money Inc., an all-in-one, on-line merchant services company, announced that credit cards might be history.
City-Money Inc. has developed a new Internet retrieval system called the "eyeTeller(TM)." It is based on its highly touted software/hardware browser based banking solution, will deliver to customers not only cash but offers bill pay, maps, money and wire transfers, read e-mail, send e-mail, buy movie and concert tickets, and other Internet based transactions. EyeTeller(TM) is said to be one of the most secure on the market today. Delivery date is set for May 2002.
The new ATM, the "eyeTeller(TM)" will allow customers to do banking transactions and to retrieve cash without the use of credit or debit money cards. You simply need your thumb signature or your eye!
It works like this: A potential customer fills out an application for a line of credit much in the same manner as you apply for a credit card. You get a line of credit for cash or for spending within a retail environment. Instead of you using your credit card to get cash at an ATM or using your credit card at a grocery store, restaurant, and gas station or at the mall, you simply use your thumbprint at a designated "eyeTeller(TM)" machine. The machine recognizes you through your thumbprint or your retina and gives your credit balance and how much you can spend or the amount of cash you can withdraw.
You don't even need a printed receipt unless you request it. You can get all kinds of information about your account printed for you if you chose.
Merchants can order the "eyeTeller(TM)" for their stores or use them as their cash registers. Thus, no more need for credit cards, your thumbprint or eye scan becomes your credit card.
* Faster and more convenient checkout
* Ability to make purchases without carrying a purse, wallet or checkbook
* Protection of personal information and financial assets
* Reduced threat of identity theft
* It also utilizes fingerprint authentication for sales transactions and payroll check cashing, and offers customers the option of electronic check processing.
Printed in Volume 1 Issue 8