Updated: 11/25/2005; 12:01:15 AM.

XML and software
XML, web and software in general, with notes on Radio Userland resources

daily link  Friday, January 09, 2004

Software for micropayments online: "Ronald L. Rivest, the R in the public key encryption system RSA, which he helped invent, and Silvio Micali, whose honors include the 1993 Gödel Prize in theoretical computer science, founded Peppercoin and introduced it commercially in December. Peppercoin hopes to reduce online merchants' transaction costs substantially, particularly the number of credit card charges they pay. These are typically about 25 cents per sale, said Robert W. Carney, vice president for marketing at Peppercoin. The company's software uses advanced encryption and mathematical models to avoid charging a seller a fee each time an item is sold. Instead, the system statistically selects a representative sample of the transactions for billing...

BitPass, another new micropayment company, stresses the simplicity of its system. Kurt Huang, chief executive of the company, based in Palo Alto, Calif., said that all the gatekeeping and financial processing services were bundled in a single file that can easily be uploaded to a Web server for use by a hosted Web site. "This way the little guy can engage in digital commerce," Mr. Huang said...

PayPal recently offered a special micropayment rate, restricted for now to large digital music providers. These sellers will be charged 11.5 cents for a 99-cent song - 2.5 percent plus 9 cents per transaction - rather than the standard 25 to 30 cents.

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Copyright 2005 © Ken Novak.
Last update: 11/25/2005; 12:01:15 AM.