IP: buddy -- got a dime (edime)?

[Dave Farber <farber () central cis upenn edu>]

CYBERCOIN TARGETS SMALL CHANGE ON THE NET
CyberCash has teamed up with six major banks, including NationsBank, First
Union, First USA and PNC Bank, to offer an electronic payment system to
Internet users who want to make purchases ranging from 25 cents to $10.  The
system, called CyberCoin, will charge a just a few cents per transaction,
making it economically more feasible than traditional credit card systems,
which charge 75 cents for a 25-cent transaction.  The availability of
"micropayments" is a critical component in allowing publishers to charge for
online information, say industry observers.  "What this is really about is
not selling old things more efficiently, but setting the stage to sell an
entirely new set of products," says Paul Saffo of the Institute for the
Future.  "It allows you to buy things by the sip rather than the gulp."
(Wall Street Journal 30 Sep 96 B8)