“MCX will be the beginning of the end of the Credit Card networks. PERIOD.”—MCX collaborator Joseph Corcoran—dreaming …

Joseph, if your patented idea is so good, I am going to assume that you have previously made approaches to MasterCard, Visa, Amex and PayPal, et al, with respect to them licensing your idea and, as you are now working with MCX, I assume that those others have examined your idea and rejected it as being of not sufficient economic benefit to them. If that is so, what makes you think that a bunch of albeit large retail merchants, looking for the cheapest possible solution to their imagined problem, will be able to build a system to utilize your idea to any better effect than the major credit card companies are going to effect with their tokenization and “MasterPass” and “Visa Checkout” mobile/online apps?

The fact is, you have to access payers’ funds in retail banking accounts: ACH transactions are not interactive; they are aggregated for overnight settlement, and, depending on the availability of funds/credit, may or may not be validated/reversed the following day; therefore, such ACH transactions never have been, and never will be, an appropriate mechanism for the payment for goods/services that are going to immediately walk out the door. PERIOD.