REPORT "Some unexpected weaknesses of electronic payment systems"

The emergence of new online payment systems and the interconnection of these with more traditional ones such as bank accounts and credit cards has generated a number of anomalies that could seriously harm the interests of people and particularly to banking and financial institutions themselves.

This report presents and analyzes four abnormalities found in online payment systems.


1st: ANOMALY
YOU CAN MAKE A PURCHASE USING A
BANK ACCOUNT WITH NO FUNDS


2nd: ANOMALY
YOU CAN TURN ON A DEBIT CARD INTO A CREDIT CARD


3rd: ANOMALY
YOU CAN RECOVER THE MONEY PAID IN AN ONLINE PURCHASE



4th: ANOMALY
YOU CAN TRANSFER FUNDS FROM A
BANK ACCOUNT WITH NO FUNDS



This report is based on a study carried out for 5 months in which it was possible to make online purchases amounting to 4,444€ using a bank account with no funds, a debit card and an Paypal account.

Although some of these abnormalities may occur by chance, in any event is not recommended to anyone using them to make purchases without cash. To do this would result in the creation of a debt to one or several entities that eventually initiate legal proceedings to cancel the debt.

It is urgent that steps be taken by companies and entities involved because the consequences can be severe if many people come to know this information and their personal situations are such that these abnormalities lead to use to get money from their banks.



HOW TO ACCESS TO THIS REPORT:
Although this report is usually of interest to firms banking, media and consumer associations is also available for any particular person.

However, the person who uses this information is at your full responsibility.