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

The MilliCent system uses brokers as trusted third parties that act as intermediaries between merchants and consumers. As a merchant, you simply contract with a broker to sell scrip to your customer at face value. Brokers pay you, subtracting out their service fee, just as soon as they sell scrip.

Real money flows outside of the MilliCent system from consumers through brokers and on to merchants. Because all online purchasing is handled through vendor-specific scrip, verification is quick, easy and automatic, allowing for extremely fast per-click purchases.

Typical brokers can be large financial institutions such as banks, credit card companies, or financial clearinghouses. They can also be Internet Service Providers or Online Service Providers.

During the current phase of the trial there are no real brokers taking part so merchants need to use the demonstration broker to sell their scrip.

The second phase of the trial is scheduled to start during spring 1998, and will involve real broker partners, buying and selling scrip for hard cash.

Will micropayment systems like MilliCent be successful? Read Paul Lang's opinion and let us know what you think.