BitPass
From Free net encyclopedia
BitPass is an online payment system for digital content and services. Kurt Huang is co-founder. Doug Knopper was hired as CEO in November, 2005. BitPass is a California corporation with headquarters in Silicon Valley. It was founded in December, 2002 and has since partnered with major technology and financial services companies such as Microsoft, PayPal, the Royal Bank of Scotland and First Data.
For the content buyer, BitPass works like a pre-paid telephone card: the buyer signs up for the service and puts money into an account using a credit card or PayPal; this stored value amount can be used to purchase digital content or services.
Transaction fees are paid by the content provider. For payments under $5, the charge is 15% of the price paid by the buyer. [BitPass Professional merchant account fee]