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There are 2 major problems with this DRM:
- you cannot redownload your eBooks to get them encrypted for another credit card. ... change your bank, and loose your eBooks !
- the system does not work with the "e-credit cards" system, now widely used in Europe. The bank gives you a unique temporary credit card number when you ask for one. This prevents from using your real credit card number for purchases on the Internet. For each eBook you purchase, you have to write the credit card number you have used to get it ! And the bank does not store the generated card numbers... so if you forget it, you can't do anything.
Finaly, this DRM is just a "password-based" system. What does happen when an eBook is sold with a stolen credit card number ? What can prevent the hacker from putting the eBook + the CC number on any website ?
The only valid system is a "device-based" DRM where the customer can download again eBooks for any new device (provided that the Reader runs on this new PDA/Smartphone).
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