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Selection of the right micropayment scheme critical to the success

Selection of the right micropayment scheme critical to the success

The most interesting example of desegregating traditional bundles and trading them over the Internet lies in MP3 technology that enables compressed music and video files to be downloaded from the Web. MP3 files are roughly one sixteenth the size of a CD file and can be stored on a hard drive or burned into a blank CD with the right equipment. “Dropp is excited to welcome this brain trust of powerhouse leaders and entrepreneurs to our advisory board.

Rysavy questions whether there’s any content consumers want enough that they’re willing to pay for and receive it over relatively slow wireless networks onto a device with a tiny screen and keyboard. But more complex content will encounter market limitations on the current generation of phones. “”There have been a number of attempts to implement 소액결제 정책 “writes Shirky, “and they have not caught on in even in a modest fashion.”” It’s true that a small army of companies has tried to enter the space and failed. The list is long and includes companies like Beenz, CyberCash, Cybercent, Cybercoin, Digicash, eCharge, FirstVirtual, Flooz, and MicroMint. And in the case of CyberCash, it’s mainly to announce the company’s acquisition by VeriSign. Other players that have been around for awhile, but have little visible market traction in the U.S., include CyberChange , eCash, Internet Dollar, MilliCent, Pay2See , and Trivnet.

However, while micropayments have been discussed for many years already, their ultimate success faces substantial challenges. Clearly, a micropayment scheme must be inexpensive, involve negligible delay, and be extremely easy to use. However, a larger challenge is the requirement of universal acceptability – a consumer using a micropayment mechanism will expect that most merchants will accept this mechanism. Since merchants cannot be expected to support more than very few (one or two?) micropayment schemes, this implies that only very few micropayment schemes will be viable long-term. This makes the selection of the right micropayment scheme critical to the success of any early adopters of the technology.

India, one of the fastest growing economies still lacks an effective strategic framework to directly tackle the high poverty levels. According to the World Bank figures, India reduced its poverty from 60% to 42% of population between 1981and 2005. This eminent contrast is brought by improper channelization of government benefits to the households that most deserve these policy benefits. The complexity of beneficiary identification for a government policy reaches another extreme in a nation of 1.2 billion.

In all cases, credit cards lose their appeal below a certain transaction amount, usually set between $1 and $10. This is why so many merchants require you to make a minimum purchase when you use your credit card. Aside from the implementation challenges, more interesting points arise when assessing the economic and social impact of this concept on the Internet.

If we were to earn revenue through micropayments, currently that would be ideal. So this is our corporate social responsibility towards the news business. We cannot shun our responsibility because there is no ecosystem available. We feel that the benefits will start coming in a few years down the line when many people have wallets. All these policies, however, are not able to match up to the impact that is expected by the administration.


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