Micro/Mini payments (Cont’d)
- A cost effective and scaleable system that is a simple and secure (protects privacy of transactions).
- Cost of setting up accounting and billing procedures are minimal ?
- Low overhead- Managing and consolidating microdebts
- Bearer certificate(similar to cash--whoever holds the certificate holds the value)
- National System- transactions among parties are kept track of by a 3rd party
- Examples-Digicash, NetBill, Millicent, Payword, MicroMint, and Agora