Electronic Currency

Electronic currency is the money which is exchanged through electronically only. It can exchange through computer networks or digital stored value system. It is also known as electronic money, digital money, or digital currency. The examples of electronic currency will be given are electronic fund transfer and direct deposit.

In 2nd June 2005, Firstgate’s Click & Buy was launched by Apple and accepted in European iTunes. It allows customer to purchase music, audiobooks, and gift certificates via debit card, invoice or bank transfer.

Besides that, peppercoin system provides service that can process small payment. It allows the merchants and financial services companies to grow revenue and profits through the sale of low-priced offerings. Peppercoin provides payment solutions for various market and transaction type. Thus, it can help merchants increase revenue and decrease costs at the same time. It also enables profitable small payments by growing both a merchants’ top line and bottom line.

Additionally, paystone technology provides a low price online payment method without the risk of charge back from the fraudulent credit card use. It can efficiently process the micropayments. Therefore, it provides a wider range of market for the businessman or individual. Paystone technology also provides an email money transfer option which allows paystone account holder sends fund to email of anyone globally.

Flooz.com was a company which established a currency unique to internet merchants. The word “flooz” is an Arabic word, means money. Individual can directly purchase from the flooz.com which can be redeemed for merchandise at a variety of online store. In August 26, 2001, this company announced its closure. It may be due to the limited adoption by both merchants and customers.

Related links:

http://www.highbeam.com/doc/1G1-132944345.html
http://en.wikipedia.org/wiki/Electronic_currency
http://www2.computer.org/portal/web/csdl/abs/html/mags/co/2004/08/r8019.htm
http://gold-pages.net/Peppercoin.htm
http://gold-pages.net/Paystone.htm
http://en.wikipedia.org/wiki/Flooz.com