payloadz.blogspot.com— One of the original providers in the "Micropayments" sector, BitPass.com closes its doors. They have partnered with Digital River to handle unused account balances.
Jan 19, 2007View in Crawl 4
They were trying to help people monetize their digital content. One of the scenarios would be for you to pay $0.25 to view a comic or read an article. So really small payments for digital content is what they were pitching. The issue is that because the credit card companies have such high per transaction fees, the only way they could get away with buying things for such a small price would be to have users "pre-fund" their account with larger transaction amounts that would absorb the credit card fees. So you would basically put $5 into your BitPass account. Then you'd have to spend form that balance. A lot of people would just use it once or twice and have a lot of unspent money in their accounts. There are a lot of similar services out there. I personally run this one: <a class="user" href="https://www.payloadz.com">https://www.payloadz.com</a>
There are plenty of sites that have been doing micropayments for much longer. e-Gold has been doing it since 94-96, e-Bullion since 2000, GoldMoney since 01. Some have transfer fees, some don't.This is just another case of a processor going down the tubes. Other that have include EVOCash, IntGold and the soon to be StormPay.
Closed AccountJan 20, 2007
Interesting. Here's what I think abou*To view the rest of this comment, please make a micropayment of $0.25*
sprfrkrJan 20, 2007Submitter
They were trying to help people monetize their digital content. One of the scenarios would be for you to pay $0.25 to view a comic or read an article. So really small payments for digital content is what they were pitching. The issue is that because the credit card companies have such high per transaction fees, the only way they could get away with buying things for such a small price would be to have users "pre-fund" their account with larger transaction amounts that would absorb the credit card fees. So you would basically put $5 into your BitPass account. Then you'd have to spend form that balance. A lot of people would just use it once or twice and have a lot of unspent money in their accounts. There are a lot of similar services out there. I personally run this one: <a class="user" href="https://www.payloadz.com">https://www.payloadz.com</a>
glidedonJan 21, 2007
@SPRFRKRDoes anyone ever go to your site? I wouldn't go there with a ten foot pole with a URL like that.
Closed AccountJan 21, 2007
There are plenty of sites that have been doing micropayments for much longer. e-Gold has been doing it since 94-96, e-Bullion since 2000, GoldMoney since 01. Some have transfer fees, some don't.This is just another case of a processor going down the tubes. Other that have include EVOCash, IntGold and the soon to be StormPay.
ruuk25Jan 23, 2007
Just and update. The letter that was sent to everyone has now been posted on the Mperia home page (<a class="user" href="http://www.mperia.com),">http://www.mperia.com),</a> so I guess it is officially true.