Use Your Driver’s License like a Debit/Credit Card
Imagine being able to use your driver’s license to pay for your purchases. This idea is has come to happen in the state of Texas. The fact is that 24 states make driver’s licenses with a magnetic strip on the back. National Payment Card Association, a Florida based company, has now launched a service that turns your drivers license into a debit card. The service basically links your driver’s license information back to your bank account. This makes it possible for you to use your license like a debit card and make purchases wherever you go.
The State of Texas has already been participating in the program at certain participating gasoline stations. Texas residents who want to participate need to create an account by registering at RollBackPrices.com. Being that I am a Texas resident, I think I am going to sign up for this service very soon. I always keep my drivers’ license in my car and sometimes travel without my debit card. This will make it very easy for me to fill up my vehicle. Customers must create a PIN (Personal Identification Number) that they will use for this service. Be careful not to let anyone know what your PIN numbers, since, National Payment Card Association will only be responsible for up to $50 in fraud. You probably also have some sort of fraud protection with your bank, however, I don’t know if they will cover purchases made with your driver’s license.
The company plans to soon expand into grocery stores and drug stores. This service is very beneficial to many people. Another feature that the company offers is an instant email every time your driver’s license based debit card is used. Paypal is another popular payment processing company that offers this feature on its debit card. This feature ensures that you do not forget what you have spent. If you check your email as often as I do, you will be able to easily keep track of your expenses. Make a separate folder in your email account for emails coming from National Payment Card Association and you won’t loose track of your emails. You can then start to examine your expenditures simply by referring back to old emails.
The huge competitive advantage that National Payment Card Association has over other credit card processing companies is the fantastic rates they offer. Most credit card processing companies charge their customers, a per transaction fee plus a small percentage of the total amount charged. National Payment Card Association charges a small fee of $.19 (nineteen cents) per transaction. That amount is much cheaper than the $.25 transaction fee plus a %1.5 processing fee. These savings are then passed on to customers, According to company spokesman. An Austin, Texas based gasoline station offers a $.10 discount per gallon for store customers that use their Texas drivers license to process gasoline payments.
American companies do not stop innovating the way credit/debit cards are processed. I wrote about the marriage of your cell phone with your credit cards in a previous article that on this blog. This feature would allow people to use their cell phones to process their credit or debit cards. The use of a driver’s license to process your payments is another very innovative way to make payments. I think this idea is going to become more widespread as more states start adopting the use of magnetic strips on the back of their drivers licenses. At some point this week, I plan to sign up for this service. Once I sign up and start using it for a while, I will let you all know if I like the service or not.
VISIT OUR SPONSERS AND GET A FREE CREDIT REPORT!!
Imagine being able to use your driver’s license to pay for your purchases. This idea is has come to happen in the state of Texas. The fact is that 24 states make driver’s licenses with a magnetic strip on the back. National Payment Card Association, a Florida based company, has now launched a service that turns your drivers license into a debit card. The service basically links your driver’s license information back to your bank account. This makes it possible for you to use your license like a debit card and make purchases wherever you go.
The State of Texas has already been participating in the program at certain participating gasoline stations. Texas residents who want to participate need to create an account by registering at RollBackPrices.com. Being that I am a Texas resident, I think I am going to sign up for this service very soon. I always keep my drivers’ license in my car and sometimes travel without my debit card. This will make it very easy for me to fill up my vehicle. Customers must create a PIN (Personal Identification Number) that they will use for this service. Be careful not to let anyone know what your PIN numbers, since, National Payment Card Association will only be responsible for up to $50 in fraud. You probably also have some sort of fraud protection with your bank, however, I don’t know if they will cover purchases made with your driver’s license.
The company plans to soon expand into grocery stores and drug stores. This service is very beneficial to many people. Another feature that the company offers is an instant email every time your driver’s license based debit card is used. Paypal is another popular payment processing company that offers this feature on its debit card. This feature ensures that you do not forget what you have spent. If you check your email as often as I do, you will be able to easily keep track of your expenses. Make a separate folder in your email account for emails coming from National Payment Card Association and you won’t loose track of your emails. You can then start to examine your expenditures simply by referring back to old emails.
The huge competitive advantage that National Payment Card Association has over other credit card processing companies is the fantastic rates they offer. Most credit card processing companies charge their customers, a per transaction fee plus a small percentage of the total amount charged. National Payment Card Association charges a small fee of $.19 (nineteen cents) per transaction. That amount is much cheaper than the $.25 transaction fee plus a %1.5 processing fee. These savings are then passed on to customers, According to company spokesman. An Austin, Texas based gasoline station offers a $.10 discount per gallon for store customers that use their Texas drivers license to process gasoline payments.
American companies do not stop innovating the way credit/debit cards are processed. I wrote about the marriage of your cell phone with your credit cards in a previous article that on this blog. This feature would allow people to use their cell phones to process their credit or debit cards. The use of a driver’s license to process your payments is another very innovative way to make payments. I think this idea is going to become more widespread as more states start adopting the use of magnetic strips on the back of their drivers licenses. At some point this week, I plan to sign up for this service. Once I sign up and start using it for a while, I will let you all know if I like the service or not.
VISIT OUR SPONSERS AND GET A FREE CREDIT REPORT!!
Labels: Credit card processing companies, credit cards, debit cards, National Payment Card Association
Credit Card / Financial news blog post by Todd Holliday at 6:46 PM 