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Unformatted text preview: ounts of less than $10, such as downloads of individual articles
for music clips, which would be too small for Credit Card payments
e.g. QPass enables Wireless customers to charge ringtones, games and
other digital products and services to their monthly Phone bills. ELECTRONIC COMMERCE PAYMENT SYSTEMS
4. STORED VALUE PAYMENT SYSTEMS
Enables customers to make instant online payments to merchants and
other individuals, based on pre-stored Value in a Digital Account.
Online Value Systems rely on the value stored in a Consumer’s Bank,
Checking , or Credit Card account, and some of these Systems require
the use of Digital Wallet.
Smart Cards are a type of Stored Value System used for Micropayments.
Smart Smart Card can serve as an ‘’Electronic Purse’’ in place of cash.
e.g. The Mondex Smart Card contains electronic cash and can be used
to transfer funds to Merchants in physical storefronts and to
Merchants on the Internet.
Mondex Smart Card requires a special card reader whenever the card
needs to transfer cash to either an online or offline Merchant. ELEC...
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- Spring '11