PayPerNet.COM Internet Payment Solutions

The potential of sales through the Internet is universally understood as very large. However, payment for purchases made through this medium continue to require restrictive, non-intuitive and/or relatively immature methods. Moreover, the methods are perceived as insecure by the user. The payment issues have effectively created an important barrier that keeps a large body of the overall population from making Internet-based purchases.

We propose a new, easy to understand universal payment system that bridges the gap between regular commerce and e-commerce and solves these payment problems. We refer to this new system as PayPerNet. The basis of the PayPerNet system is a proprietary, low-cost international network of points of financial settlement. On top of this system several payment methods will be offered. PayPerNet settles payments with e-vendors in exchange for a commission.

PayPerNet offers important and obvious advantages to both customers and vendors when compared to all other existing and planned e-payment forms, including payment cards and coupon schemes.

Importantly:

• PayPerNet does not exclude any potential vendors or customers, as there are no sign-up requirements or fees for neither customer nor vendor
• The payment method and its security are conceptually easy to understand also by non-technically-savvy users,
• Payment can be anonymous,
• PayPerNet does not exclude potential customers, as e.g. those without payment card or bank account
• There are no software and no hardware installation requirements for customers, eliminating cost, complexity and user acceptance issues
• PayPerNet allows clients to pay for their e-purchases using locally preferred means of payment, including cash, check, PIN and bank wire
• Because of PayPerNet's low-cost structure, the commission charged to the vendor can be lower than the commission charged by alternative solutions (e.g. card companies).
• Optional payment upgrade paths can be offered - if, e.g., customers or vendors wish to do so they can request pre-approval and can qualify for advanced forms of payment through PayPerNet

These features create a basis for high customer and vendor acceptance. In our opinion, this is the single most important requirement for a successful payment method.

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