Electronic Currency

Nowadays, buying an inexpensive item or service such as MP3 music files, magazine and news-paper articles, Web-based comics, video through internet is not a new issue anymore. There are many e-micropayment technologies vendors who are similar in many respect but differ in others. For instance, BitPass, Firstgate’s Click and Buy, PayLoadz, Paystone Technologies, Peppercoin, Beenz, DigiCash and Flooz. Mircopayment providers like Beenz, DigiCash and Flooz did not succeed due to the online vendors who are uninterested in selling inexpensive item online as it is time consuming. However, PayLoadz able to work with 1000 merchants and generates about $3million profit per year.
What factors contribute to the success of PayLoadz??
PayLoadz does not have a prepaid account with it customer. Instead, the users will pay the sellers directly through PayPal which help to verify the payable ability of the users. On the other hand, the merchants will pay PayLoadz a uniform monthly fee based on their sales levels rather than a percentage of each transaction which in turn save up administration cost and processing time. In addition, customer will never see a Payloadz interface as it delivers files through a secure server to the customer using PayPal’s Instant Payment Notification system. Furthermore, the PayLoadz system consists of an application server that controls all the web site and handles several servers which have been separated in respect of its role in order to improve performance and reliability. As a conclusion, e-micropayment has become more pervasive as it brings convenient to consumers. It important will increasingly acknowledge and used by the consumers.