Peppercoin Introduces Version 2.0

Tuesday 29 June 2004 14:44 CET | News

Peppercoin has released Peppercoin 2.0, the small payments solution that significantly reduces transaction processing and customer service costs.

In 2003, Peppercoin delivered the first micropayment system that enables online merchants to offer new content profitably and to build market adoption quickly through a flexible, consumer-friendly approach. Now Peppercoin 2.0 has made the purchase experience transparent to the buyer and has expanded its functionality to include support for physical point-of-sale transactions. Consumers can use their credit cards to make purchases with the merchant, with no specialized account pre-enrollment required. Peppercoin 2.0 also provides merchants with an online customer care system that helps reduce customer service costs. Industry Transformation Incredible Technologies (IT), the countrys largest manufacturer of coin-operated video games and the makers of the popular Golden Tee Golf game, has selected Peppercoin 2.0 to process credit card transactions in their future lineup of video games with online capabilities. A much anticipated and more powerful version of Golden Tee is expected to debut later this year, and will be the first product to offer cashless purchases. With this technology, IT becomes the first major coin-op amusement vendor to enable credit card transactions on their machines. Last year, consumers spent more than $350 million playing Golden Tee Golf on over 27,000 online machines. Historically, when credit card transactions are enabled at the point-of-sale, consumer spending increases substantially. Changing the Small Payments Landscape The market for low-priced digital content online has been validated by services such as Apple iTunes, but profitability remains a challenge. At the physical point of sale, most small payments, such as for video games and vending machines, have been cash-based--as the transaction processing costs on a 25-cent game or $1 purchase have been prohibitive. Further squeezing profit margins, a typical live customer service inquiry costs a company at least $5-10 per incident. Peppercoin 2.0 will change the small payments landscape by making it possible for consumers to easily purchase low-priced digital and physical goods and by solving the most significant challenges facing merchants selling online and at the point-of-sale. Peppercoins patent-pending Universal Aggregation technology aggregates low-priced transactions across many consumers, merchants and payment providers, which significantly reduces the processing fee for each transaction. Peppercoin 2.0 is highly scalable and can handle the transaction processing needs of even the largest merchants. Peppercoins automated customer self-care module helps reduce the costs related to consumer billing inquiry and dispute resolution. New Features of Peppercoin 2.0: Peppercoin 2.0 provides merchants with a number of new features, including: -- A transparent user interface--Peppercoin 2.0 does not require pre-enrollment or pre-deposit of funds. Consumers just enter their credit or debit card information with the merchant online as usual, or swipe their card through a reader, and the transaction is automatically processed by Peppercoin. -- The ability to support all payment models--Peppercoin 2.0 handles payments for any mix of business models, from pay-per-use to subscription services--and both credit and debit cards. -- Reduced customer service costs--This cost must be reduced to make the sale of low-priced content profitable. By utilizing automated, online customer self-service, integrated bill presentment and automated pre-dispute resolution, Peppercoin 2.0 helps dramatically lower the overall cost of handling small payments. Product Description, Pricing and Availability Peppercoin 2.0 is comprised of a Small Payment Gateway, which is available as a Peppercoin-hosted service or run by the merchant and functions like a traditional Payment Gateway; a Customer Self-Care Module with merch

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce