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MicroPayments and Credit Cards - Game On

     
11:55 pm on Jun 29, 2004 (gmt 0)

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WebmasterWorld Administrator brett_tabke is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month

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AP Story:

[seattlepi.nwsource.com...]

The biggest obstacle to using credit cards for micropayments is the cost of transaction processing. Typically, a transaction costs 20 cents to a quarter, plus 2 percent to 3 percent of the price of the item being sold. For very inexpensive products, the transaction expense can wipe out any profit.

Peppercoin 2.0 has reduced the transaction expense to less than 10 cents, Solomon said.

With some sophisticated games costing a dollar or more to play, that cost structure is affordable.

The cost reduction is possible, he said, because of a patent-pending method of lumping together individual transactions into one transaction to reduce the cost to the merchant.

6:20 am on June 30, 2004 (gmt 0)

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wow, this is great news. can't await this to hit european ground.
8:09 am on June 30, 2004 (gmt 0)

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> wow, this is great news. can't await this to hit european ground

Be sure, in 5-10 years it will :)

3:39 am on July 4, 2004 (gmt 0)

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Posted about this a day earlier Brett :)
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