Peppercoin Makes Micropayments a Reality with the Help of RSA Security Encryption Software

Wednesday 28 January 2004 13:44 CET | News

Peppercoin has implemented RSA BSAFE encryption software as part of the core of the Peppercoin Payment System. RSA BSAFE software helped Peppercoin create a trusted and secure transaction environment that makes it possible for vendors to profitably sell content to consumers at prices as a low as a few pennies.

Peppercoins solution can open new market opportunities for online vendors to cost- effectively implement an infrastructure for selling low-priced goods such as music, videos, and games over the Internet. Peppercoin has created an innovative approach to micropayments that enables digital merchants to reap the benefits of selling low-cost content or goods online. Until recently, the cost of processing low-value transactions was a major roadblock to the adoption of micropayment business models. Peppercoin developed a hyper-efficient payment processing algorithm using mathematical probabilities. A core component of the Peppercoin Payment System is RSA BSAFE software. RSA BSAFE software provides the encryption and digital signing component of Peppercoins micropayment solution, applying digital signatures to each transaction to ensure the security of users personal information and the integrity of the exchange by verifying both merchant and consumer are authorized to engage in the transaction. The application of digital signatures ensures a trusted environment for all parties. RSA BSAFE software provides the provable and repeatable random number generation required for Peppercoins patent-pending method of reducing the costs of processing small financial transactions, what the company calls cryptographically secure selection. This selection process is the underpinning for a system that, when applied across millions of transactions, offers order of magnitude increases in payment processing efficiencies.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce