Re: [Mac_crypto] Re: Peppercoin Raises $4 Million in First Round Funding, Appoints CEO
On 24/9/03 3:29 am, Nicko van Someren e-said: I think you'll find that when the transaction value is small the merchant rates from all the credit card companies are substantially higher than that. It's common for the marginal merchant rate to be on the order of 2-4% for online transactions but there is usually a base charge of 25 cents or more as well as the marginal rate. On a $2 charge for a song the merchant could well be paying more than 30 cents in fees, which is more than double the rate for Peppercoin. By the far the most profitable micropayment market in operation is in the mobile space (ringtones, logos etc) where MSCs of 50% are not uncommon. Regards, Dave Birch. P.S. US readers may be unaware that ringtones/logos will be a $25 billion per annum market by 2006. -- -- My own opinion (I think) given solely in my capacity -- as an interested member of the general public. -- -- mail dgw(at)birches.org, web http://www.birches.org/dgwb - The Cryptography Mailing List Unsubscribe by sending unsubscribe cryptography to [EMAIL PROTECTED]
Peppercoin Raises $4 Million in First Round Funding, Appoints CEO
Rivest and Micali's microcheque protocol gets a ducat-download. Next stop an IPO -- and then an eBay buyout... ;-). Cheers, RAH --- http://www.econtentmag.com/Articles/ArticlePrint.aspx?ArticleID=5506 EContentmag.com Peppercoin Raises $4 Million in First Round Funding, Appoints CEO Posted Sep 23, 2003 http://www.econtentmag.com/?ArticleID=5506 All Content Copyright ' 1998-2003 EContentmag.com - All Rights Reserved Peppercoin, Inc. a micro-payment services company that enables online merchants to sell low-priced digital goods, has raised $4 million in a Series A round of financing from POD Holding and private investors. The funding brings the total raised to date to $5.7 million, which includes a seed round from private investors that was announced February this year. Peppercoin has also announced the appointment of CEO, Robert Kiburz, formerly VP and General Manager of the Billing and Customer Care unit at Lucent Technologies. New appointments to the Peppercoin Board of Directors include Johan Pontin and Peter S. Lawrence, managing director, both respectively of POD Holding. Pontin is the founder of POD Holding, a private equity partnership with offices in Stockholm, Sweden and Boston, Mass. They join Peppercoin CEO Robert Kiburz and its two founders, Professors Ronald L. Rivest and Silvio Micali, co-founders of the Cryptography and Information Security Group at the Massachusetts Institute of Technology's Laboratory for Computer Science. Rivest is also a founder of RSA Security and VeriSign. The Peppercoin Payment Service is designed to allow music companies, online game providers, newspaper and magazine publishers, and other digital content providers to sell low-priced online content profitably. Newspapers, magazines and other publishers will be able to add news stand pricing for single-issue or article access, while game sites will be able to add pay-per-play pricing to their subscription models. (http://www.peppercoin.com ), ( http://www.podholding.com ) -- - R. A. Hettinga mailto: [EMAIL PROTECTED] The Internet Bearer Underwriting Corporation http://www.ibuc.com/ 44 Farquhar Street, Boston, MA 02131 USA ... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience. -- Edward Gibbon, 'Decline and Fall of the Roman Empire' - The Cryptography Mailing List Unsubscribe by sending unsubscribe cryptography to [EMAIL PROTECTED]
Re: Peppercoin Raises $4 Million in First Round Funding, Appoints CEO
--- begin forwarded text Status: U Date: Tue, 23 Sep 2003 16:32:22 -0500 To: R. A. Hettinga [EMAIL PROTECTED] From: Adam L Beberg [EMAIL PROTECTED] Cc: FoRK [EMAIL PROTECTED] Subject: Re: Peppercoin Raises $4 Million in First Round Funding, Appoints CEO List-Id: Friends of Rohit Khare fork.xent.com List-Archive: http://lair.xent.com/pipermail/fork List-Post: mailto:[EMAIL PROTECTED] List-Help: mailto:[EMAIL PROTECTED] List-Subscribe: http://xent.com/mailman/listinfo/fork, mailto:[EMAIL PROTECTED] Sender: [EMAIL PROTECTED] On Tuesday, September 23, 2003, at 03:45 PM, R. A. Hettinga wrote: Rivest and Micali's microcheque protocol gets a ducat-download. Next stop an IPO -- and then an eBay buyout... ;-). Hahaha... about 7 percent per transaction - NOT mentioned on the website anywhere, I had to look in a Wired article - we call that an F*** the merchant rate folks, even AMEX isn't that high. Windows only. Interface software is NOT open source. Oh, and they are used by 6 merchants. VISA is soo scared, . However, POD Holding is obviously a good source of sucker money, send in those business plans folks :) - Adam L. Beberg - [EMAIL PROTECTED] http://www.mithral.com/~beberg/ ___ FoRK mailing list http://xent.com/mailman/listinfo/fork --- end forwarded text -- - R. A. Hettinga mailto: [EMAIL PROTECTED] The Internet Bearer Underwriting Corporation http://www.ibuc.com/ 44 Farquhar Street, Boston, MA 02131 USA ... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience. -- Edward Gibbon, 'Decline and Fall of the Roman Empire' - The Cryptography Mailing List Unsubscribe by sending unsubscribe cryptography to [EMAIL PROTECTED]
Re: [Mac_crypto] Re: Peppercoin Raises $4 Million in First Round Funding, Appoints CEO
On Wednesday, Sep 24, 2003, at 02:18 Europe/London, Adam L Beberg wrote: Rivest and Micali's microcheque protocol gets a ducat-download. Next stop an IPO -- and then an eBay buyout... ;-). Hahaha... about 7 percent per transaction - NOT mentioned on the website anywhere, I had to look in a Wired article - we call that an F*** the merchant rate folks, even AMEX isn't that high. I think you'll find that when the transaction value is small the merchant rates from all the credit card companies are substantially higher than that. It's common for the marginal merchant rate to be on the order of 2-4% for online transactions but there is usually a base charge of 25 cents or more as well as the marginal rate. On a $2 charge for a song the merchant could well be paying more than 30 cents in fees, which is more than double the rate for Peppercoin. Windows only. Interface software is NOT open source. This is a severe limitation if you're trying to sell to people on this mailing list but it covers a large fraction of the market by value. I would expect to see a Mac client too soon, thereby covering more than 99% by value of their target market. I doubt you'll see open source interface software and I doubt that their market will care. Oh, and they are used by 6 merchants. VISA is soo scared, . To push a technology like this into even 6 merchants before you've got proper funding for your company is not bad. That said, I have no doubt that they will ever scare Visa and I have no doubt they they never intended to. Nicko - The Cryptography Mailing List Unsubscribe by sending unsubscribe cryptography to [EMAIL PROTECTED]
