Peppercoin Small Payments Processing Suite Available to First Data Channels

Thursday 3 February 2005 19:57 CET | News

Peppercoin, a payments company that enables profitable, new business models for low-priced digital content and physical goods, announced its Small Transaction Suite is authorized for sale by First Datas merchant acquiring partners, to satisfy the small payment needs of the 3.5 million merchant clients they serve.

Peppercoin offers merchants a hosted small-payment service, based on credit and debit card usage, which enables merchants to optimize revenue and profitability. Peppercoin is the only small-payment vendor that addresses the digital, mobile and physical point-of-sale (POS) markets. Significant Market Opportunity: Consumers are demonstrating a clear and growing preference to use their credit and debit cards for all sizes and types of purchases. In a 2004 study, Ipsos-Insight estimated that roughly 37.5 million US consumers would choose to use their credit and debit cards for transactions below $5. Each year, more than 354 billion cash transactions occur in the U.S. for less than $5 at the physical point-of-sale, representing $1.32 trillion in aggregate revenue. Leading markets include vending ($18 billion), parking ($10 billion), coin-op ($6 billion) and quick-serve-restaurants ($110 billion). The online and mobile small payment opportunities are substantial as well; fueled by music, games, video, publishing and services. TowerGroup estimates the digital micropayments opportunity reached more than $3 billion in 2004. And a September 2004 Ipsos-Insight study revealed that, in just one year, the number of US consumers who have made small online purchases grew 250%, from 4 million to 14 million.

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Categories: Payments & Commerce | Payments General
Countries: World
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