Abstract: A method for providing point-of-sale (POS) payment using interactive television (ITV) or the world wide web (WWW) by directly debiting a customer's bank account through electronic transfer of funds or by billing a customer's credit card account. The customer places an order for products or services on his ITV station, or through the WWW from his personal computer, and can make POS payment either by authorizing direct debit from his bank account or by authorizing a charge to his credit card account. The customer's debit and credit account information is collected by swiping the customer's debit or credit card through a magnetic stripe reader at the customer's location at the moment of sale.