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<br />About eConnect <br /> <br />About eConnect <br /> <br />. eConnect News <br /> <br />. Products and Services <br /> <br /> <br />Located in Southern California and <br />establisheclin 1997, eConnect is <br />positioned to become a leader in the <br />implementation of technologies, products <br />and services that enhance the manner in <br />which businesses and consumers benefit <br />from various forms of e-commerce. <br /> <br />This is the new eCashPad. The eCashpad is a full service Point of Sale (POS) <br />terminal that facilitates secure Internet transactions from the home. The <br />eCashPad enables consumers to shop, pay bills, and send money securely <br />over the Internet with a simple card swipe. The eCashPad can provide these <br />secure payments by implementing encryption technology and providing a <br />new transaction route for financial card information. <br /> <br />The new transaction route was designed to address and eliminate online <br />financial card hacking and to limit online fraudulent charge-backs. Many <br />online merchants are currently required to keep a record of your credit card <br />information for bookkeeping, potential returns, taxing, potential charge- <br />backs, and other technicalities associated with making an online sale. Storing <br />this information online is dangerous because their employees or third parties <br />can hack that information and misuse it. <br /> <br />The online financial card transaction is different then transactions that occur <br />at brick and mortar stores. The major differences are the presence of the <br />card, cardholder, and a paper receipt stating the terms of the sale. Terms of <br />sale generally include the store's policies for returned and damaged goods. <br />The above steps are taken by brick and mortar stores to well document the <br />transaction in the event of a return or dispute about the transaction. In the <br />event of a dispute, the store can reference the above information and <br />documentation to settle the dispute. <br /> <br />Online transactions are not currently capable of implementing these physical <br />steps into a transaction. Therefore disputed transactions are harder to <br />resolve. A consumer can claim that they were over billed, billed twice, or did <br />not initiate a transaction at all. In addition, consumers can claim that the <br />return policy was not clearly stated or had changed since the time of the <br />sale. Unlike in brick and mortar stores, these types of consumer objections <br />are hard for merchants to dispute and lead to a high incidence of successful <br />Charge-backs. This is why online merchants have to store a digital carbon <br /> <br />http://www.econnectholdings.com/about_us/aboutus.html <br /> <br />Page 1 of4 <br /> <br />4/30/2002 <br />