posted on January 20, 2001 11:13:08 AM
With the impending death of ExchangePath and PayPals' demand for more and more personal information, it got me thinking. When ExchangePath closes its doors WHO GETS YOUR PERSONAL INFORMATION?????
A liquidator??? I hope I'm just being paranoid, but I envision a future of identity theft.......
These payment services are'nt regulated, there isn't anyone watching out for us.
I cancelled my ExchangePath account, but I have no idea if they've retained my information. I refuse to give PayPal anymore information. Paydirect and Billpoint aren't getting anymore information!!
Am I paranoid????
charlottek only here
http://www.lebeauchat.com
[ edited by charlottek on Jan 20, 2001 11:16 AM ]
posted on January 20, 2001 11:50:01 AM
No, you're not being paranoid.
I received an e-mail this week from Garden.com -- which recently went belly-up.
Garden.com has sold its customer records to Burpee.com, the web arm of the giant seed & supply company. The sale did NOT include credit card information.
But it certainly gives Burpee.com more information about me that I would provide -- including my purchasing history.
posted on January 20, 2001 11:51:32 AM
yeah your a bid paranoid Identiy theift requiers more then your name and billing address and credit card or bank information all of this is pretty much common info you give out on a daily bases In life.
your checking account number and routeing number is on each and every check you write and your credit card or debit card number is on every charge card slip you sign when you use the cards each is connected to your phone number home address and even your phone number and SS# .
Motor vehicle offices in many states readily sells the personal info they have on licensed drivers to telemarketers that sell magzine subcription and if your info indicates your a home owner they will sell this info on you to to companys and contractor for replacement window and companies like sear who offer home improvments.
your chances of haveing your identity stolen is more likely when you lose your wallet and it the wallet had yuor Brith cert and Soical security card credit cards in the wallet Some one wanting to steal your ID now has enough info on you to get a legal picture ID or Drivers license with there picture and your name and SS# .
posted on January 20, 2001 01:00:25 PM
well dman I agree to a point, the credit card slip doesn't contain expiration date which is req'd for making a purchase. The files retained by the payment services do.
If someone steals my wallet, I immediately go thru the hassel of cancelling everything. But if someone gets my personal info, I don't know about it until I start seeing charges or find someone is using my credit history for themselves.
If you have my check you can't become me
If you have my cc you can't become me
If you have my SSN you can't become me
But if you have all three, you might be able to become me
posted on January 20, 2001 01:18:01 PM
I agree with dman. If they really want your info, they're going to get it. So if people want my info, they get it.
posted on January 20, 2001 07:52:37 PM
Payment services increasingly have MORE than your name, credit card and banking account information.
Some have some users' SSN, credit card expiration date, a copy of a utility bill, photocopy of a drivers license and other identifying information.
Who gets this information when one of these services folds? Is it simply sold to the highest bidder?
Identity theft has become the #1 non-violent crime in the United States. According to the FTC, incidents of ID theft have doubled in the past year. Congress has looked at shutting down all of those information for sale web sites.
posted on January 21, 2001 09:06:38 AM
I agree Vargas
The real concern I have, someone could be buying one of these defunct payment services because the only thing they want is the personal information...with criminal intent as the only motive.
I'm not usually pro government regulation, as none of these payment services (unless a member of the banking industry) is operating under any government regulation...hence all our personal information is something of value to be sold.
charlottek only here
[ edited by charlottek on Jan 21, 2001 09:07 AM ]
posted on January 21, 2001 09:26:55 AM
That's why it's NEVER a good idea to give out your SS#! Glad I didn't sign up for the PayPal money market or credit card!
posted on January 21, 2001 12:18:59 PM
The rumor in the industry is that another company is buying Exchangepath. They dont want the company (who would?) but they want the program. If it does go through, look for a new company to pop up with the same look and feel (and I hope better customer service, actually, ANY customer service). As for the members' info, I am sure they will want to be treated as a brand new company and not as any part of EP, so they will ask for new members to sign up. Automatically rolling over the previous members will have a bad connotation for most folks.
posted on January 21, 2001 02:56:50 PM
The expiration date on your credit card does show up on the receipt. I have run 1,000's through the terminal in our store and processed numerous returns. The expiration date is required for a return, and the info is taken directly from the receipt.
As for identity theft, only the SSN is required. A person applies for credit using your name and SSN and their address. The credit cards are mailed to them and they charge them up. You don't find out about it until you call your bank to ask why your interest rate on your Visa card was raised to 24% when you always pay your bill on time. Or when you are turned down for a car loan and the finance manager shows that you owe $50,000 in over due credit card payments.
