credit card is plastic money issued by banks and credit card companies, which allows you to spend now and pay later.
Limitations of Online Credit Card Payment Systems
■Security: neither merchant nor consumer can be fully authenticated
■ Cost: for merchants, around 3.5% of purchase price plus transaction fee of 20 – 30 cents per transaction
■ Social equity: many people do not have access to credit cards (young adults, plus almost 100 million other adult Americans who cannot afford cards or are considered poor risk)
