There are actually 3 parts to the system, gonzo --
1. the peer to peer functionality -- which bypasses the Interchange system entirely and keeps transactions in house would be the way I would describe it. Once the money enters the system and is moved through the system it doesn't require Interchange to move.
2. The Virtual Visa -- this is automatically assigned to every account that is opened -- regardless of account type right now. This gives the user the ability to purchase online at any merchant doing Visa compliant online sales with the exception of bin numbers like gaming, which are not in the system at this time.
3. The Electron Card Visa -- the user requests the card, it's mailed to him and he can then use it at ATMs or compliant POS terminals.
The Virtual Visa has loads of potential though it's often the overlooked part of the system -- it can be used for so many online transactions -- including paying bills with utility companies that take online payment
