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Alternative Payment Methods
The concept of alternative payment methods is not new. For example, when going out to eat, you can either pay for individual items, or pay a lump fee to enter an all-you-can-eat establishment. However, modern technology and the internet have allowed for much more variety. To purchase music, customers previously had to purchase an entire record, cassette or CD from a store, because it was too inefficient to package many single songs for distribution if you did buy a popular single, it would cost several dollars. Now, individual songs can be purchased online through websites such as iTunes or Amazon.com, and the individual costs of the songs on a CD are roughly equal to the CDs total cost. Journal databases allow users to purchase the rights to view individual texts or journals, or subscribe for their entire service.
Payment processes have also changed. The popular auction website, eBay, has a partnership with PayPal, which allows users to make secured purchases on an account linked to a credit card or bank account. Other services allow the option of suspending payment, such as BillMeLater, which allows users to shop and then receive a bill at a later time.
Alternative
Payment Options Converting Hesitant Shoppers Into Confident Spenders
A report on current trends, pointing towards the further
establishment of alternative payment methods.
BillMeLater
A new trend in online shopping, BillMeLater.com offers users
the ability to check out from a store using their
birthday and four
digits
from their social security number, receiving a bill at a later time.
Can
These Startups Beat PayPal?
Various services in competition with PayPal for online
transactions.
iTunes
iTunes was responsible for making legal digital music
distribution a prominent force. It has become synonymous with digital
music in
the same way Google has with search engines.
JSTOR
JSTOR is a scholarly journal archive with a wide variety of
access plans for their services. There are many groups a user can be
affiliated
with for access under a blanket policy, or users can create their own
personal
policy, or articles can be purchased one at a time through their
website or via
links to the publishers.
PayPal
A service that rose to prominence alongside eBay, PayPal
offers users a secured transaction method for online purchases besides
entering
credit card information into a website. The PayPal service allows a
user to
send money to another PayPal user via their e-mail address, deducting
funds
from a users bank account or charging the users
credit card.
Sony
Station.com Store
A complex online store item mall, Sonys
site offers a
combination of digital downloads for their games, real life products
such as
clothing, digital items for Sony games, and their subscription services
for
their game accounts.
Steam's
Store
An increasingly popular service, Steam allows users to buy
digital rights to a videogame instead of the game itself, allowing the
user to
log into an account that grants the user the rights to download and
operate all
games tied to the user account. Because no storefront or
shelf space
is
needed, it has become easier for small developers to get their products
hosted
by a mainstream distributor.
The
Rising Tide of Alternative Payment Systems
Description of the strategies behind several newer payment
systems.
Virtual
Currencies Gain in Popularity
Virtual worlds and social networking sites experimenting
with using virtual currencies as an alternative to credit cards or bank
accounts.
Xeevex Virtual Currencies
Zeevex Virtual Tokens are the coolest way to pay for your favorite online video games and other digital stuff!
Is Virtual Currency a Real Problem?
China worries that make-believe video game money could affect its ability to control its money supply. As a result, it's slapping limits on virtual currency.
Virtual currency exchange to launch in 2010
Beginning in the first quarter of 2010, social sites IMVU and MyYearbook will launch a virtual currency exchange allowing users from either service to exchange currency between the sites.
Second Life Linden Exchange
LindeX Market Data from the Second Life Economy including estimated USD Value.
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| The School of Public Policy George Mason University Phone: (703) 993-3523 Fax: (703) 993-2284 |
InTech@GMU.edu Finley Building, Room 202 4400 University Drive, MS 3C6 Fairfax, VA 22030-4444 |
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