An on-line system for printing a value bearing item (VBI) that includes a client subsystem for interfacing with a user, a cryptographic device remote from the client subsystem for authenticating a plurality of users, and a server subsystem capable of communicating with the client subsystem and having code for providing customer support to a user, for administering a user VBI meter, for providing payment administration support to a user, providing accounts receivable support to a user, meter refund and withdrawal processing support to a user, providing misprint processing support to a user, and providing payment processing and billing functions. A method implementing these features is also provided.