Electronic Currency

What come to your mind when u first heard of e- currency?

Electronic currency is also call electronic cash or digital cash which is the money that exchange only electronically by using computer networks, internet, and digital stored value systems. Nowadays, because of technologies advancement, people tend to do online transaction via computer. Since internet and e-commerce have became a part of our life, thus electronic currency is very useful in doing transaction via internet. The most widely-used of electronic money are Electronic Fund Transfer (EFT) and Direct Deposit. EFT is a system of performing financial transactions electronically while Direct Deposit is a banking option that allows for the transfer funds without the hassle associated with paper checks. The growing popularity in using electronic currency is paving the way for a paperless universe where checks, stamps, envelopes and paper bills are obsolete. The pros of electronic currency include reduced administrative costs, increased transaction efficiency, simplified bookkeeping, and provide greater security. Electronic currency allows users to perform transaction privately. Electronic currency is anonymous as compared to real cash, because customer sent the amount to a merchant via internet, thus banker is unable to obtain personal information about customer.

Examples of e-Microsystems

Payloadz

Payloadz are a new media development firm specializing in providing solutions for merchants and the community of developers. It is located in New York City and was founded in 1996 as a web development company and has grown to become one of the fore front developers utilizing Macromedia development products. It is a service selling digital products such as software, music, movie and etc. The products will deliver to customers instantly after payment. The system operates by using PayPal and Google checkout.

Paystone technologies

Paystone is founded in 2001 which operates in United States, Canada and Philippines with international cash out capabilities in many other countries. It provides an inexpensive online payment method without the risk of charge backs from fraudulent credit card use. Paystone can efficiently handle small financial transaction (micropayments) as low as $0.25. The ability to process micropayments opens a whole new world for entrepreneurs of all sizes. A small business or individual now has a method of generating revenue from their website quickly, easily and inexpensively. This makes a whole new range of content available to personal account holders. The large online merchant can also realize the full benefits of the Paystone solution to expand and increase the profitability of their business.

In addition to payments Paystone also provides an email money transfer option. A Paystone account holder can send funds to the email address of anyone in many countries around the world. The recipient of the funds signs up for Paystone and can cash out the money to their local bank account. For companies sending a large volume of payments they can access our GroupPay© feature to send many individuals money all at once.