Peppercoin solves download payment processing pickle
WALTHAM, Mass. — The future of money is online. So said Ron Rivest, co-founder of online payment technology company Peppercoin, who spoke at the Future of Money Summit in Broomfield this past week.
Downloading copyrighted material without paying for it may not be ethical, but when you take into consideration credit card processing fees, it’s typically cheaper to offer it for free than to charge for it, Rivest said.
If music-sharing Web sites, for example, charged users a small amount per song, say 10 cents, they would end up losing money.
That’s because credit card processing costs about 3 percent of…
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