Computer program, system and method for on-line issuing and verifying a representation of economic value interchangeable for money having identification data and password protection over a computer network

A computer network system for issuing and verifying a password protected representation of economic value exchangeable for money to avoid acceptance of a fraudulent economic representation at the point and time of transaction between a merchant and a payee or bearer comprising:

• one or more password protected self-printed representation of economic value exchangeable for money wherein said representation having readable codes comprising at least data identifying an unique identification linked to a password for ownership verification;
• a programmed computer, further comprising:
• one or more database for storing said representations;
• a memory having at least one region for storing executable program code;
• and
• a processor for executing the program code stored in the memory, wherein the program code, further comprising:
• code to request payee or bearer to present said representation for verification;
• code to read said machine readable codes to derive said linked password;
• code to request manual input of said readable codes to derive said linked password;
• code to request a password from said payee or bearer to verify ownership of said representation;
• code to verify ownership by comparing said password presented by said payee or bearer with said password linked to said unique identifier;
• code to respond to said merchant with said verification;
• code to provide said merchant to accept or refuse said representation at the point and time of transaction based on said ownership verification;
• whereby said merchant accepts then, exchanging predetermined amount of money in currency notes with said representation or crediting said predetermined amount of money to an account designated by said payee or bearer;
• and
• whereupon acceptance, said representation is expired.