For consumers, the DSMcard functions like any other credit card: You apply for a card, then once you receive the DSMcard it is available for your use to make online purchases for electronic items, or tangible items that need to be shipped to you. You get a bill in the mail each month, and you make payments on your balance just like you would with any other credit card.
The Need for An Alternative
In real world stores, consumer's can use normal credit cards to make purchases no matter if the item is adult or not. But in the online world, it has become increasingly difficult for merchants to legitimately accept credit cards for the purchase of anything even remotely "adult" in nature. In the last 2 years alone, accepting credit cards online has gone from being "not a problem" to "almost impossible." With all the major credit card brands creating new rules and new fees again and again, it may just be a matter of time before they prohibit the purchase of any "adult" item from an online merchant.
The major credit card companies have cornered the few big third party processors that remain (already having driven the smaller ones out of business). One of the big third party processors has publicly been named as under investigation, which could put it out of business too. While efficient at what they do, third party processors often only handle electronic delivery of items purchased; for instance, a merchant is allowed to sell an electronic version of a video, but is not allowed to ship to a customer the tangible or physical tape/disk version of it. Many merchants have thus already had to give up a big part of their potential business to fit into the 'mold' required by the major credit card companies.
With CardServices' recent decision to terminate its adult merchant accounts with very short notice to their merchant clients and the continued pressure that merchants and IPSPs (Internet Payment Service Providers) are receiving from VISA and Master Card, the need for alternative processing methods is increasing.
Several online payment systems have popped up trying to fill the need for online adult purchases, but their acceptance by consumers has been fairly limited, and their use often confusing, both for consumers and merchants trying to work with these systems. What is needed is a standard credit card that is "adult friendly" – a role that DSMcard is attempting to fill.
For more information, please visit DSMcard.com.
