Contents   Introduction   Consumer wallet   Vendor server   Broker server

See Also   The Insider Secrets to Marketing Your Business on the Internet   Alternative Payment Solutions   Fraud Prevention Tools   Top Tools to Help You Boost Customer Service   iV-Caller Verification Service   Make Your Price Sell!   FindWhat.com   Make Your Knowledge Sell!   HumanClick   Netship   iFulfill.com   Nexchange   Nothing But 'Net   Netwhistle.com   Bigstep.com   Make Your Site Sell!   AWeber   GoTo.com   Constant Contact   WebAdverts   PersonalStore   SiteInspector   LinkExchange   ClickTrade   Safe   eCHARGE   MilliCent

Digital Equipment Corporation has recently launched a worldwide public trial of its MilliCent microcommerce system. Initially it will be a free trial, during which time users can download a wallet and load $10 of scrip into their wallet for free.

MilliCent uses a system of electronic currency called scrip. The scrip can be used on the Internet to purchase electronic information and other forms of electronic content from vendors. It is intended for small value transactions, from a minimum of one cent ($.01) or less to a maximum of approximately $5.00. Consumers purchase scrip from one or more brokers (broker scrip) but before spending it, it needs to be converted in to vendor specific script (vendor scrip).

The system is comprised of three software components:

• The wallet is used to buy and hold broker scrip, convert broker scrip back and forth to vendor scrip as needed, and spend scrip in exchange for vendor content.
• The vendor server performs two principal functions: administering content pricing, and validating scrip used for payment.
• The broker server converts real money into scrip and converts different forms of scrip used by different vendors or content providers.