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EWL developed the C7 Micropayment System for C7 Corporation, a company
registered in Delaware, USA. C7 Micropayment System is a patent-pending online
payment solution that facilitates small e-commerce transactions. The proprietary
technology utilized in C7 allows for effortless online shopping, which creates
a positive shopping experience for consumers. To ensure the highest level of security,
a rigorous and real-time identification method is used to verify and authenticate
every transaction.
C7 Micropayment System is a platform-independent solution, and is accessible from
any desktop, browser-supported handheld device or cell phone with roaming capability.
Although there is no restriction on the amount of transaction, C7 is positioning
itself in the niche segment of micropayments for the growing digital content market.
Transactions as low as 1 cent can be made through C7.
Market Potential
The slump in Internet advertising market has compelled many online content providers
to rethink their strategy of providing free content to attract visitors. Most
content providers are forced to look at other sources to generate revenues.
Research conducted by Jupiter Media Metrix, Inc. in the U.S. found that the percentage
of paid content in the top 100 most visited Web sites grew to 11% in 2000 from
6% in 1999. Furthermore, the research also found that 80% of Internet media companies
expect to offer chargeable content in 2003.
However, lack of effective payment solutions for small value items is impeding
online content providers' transition towards charging consumers for content. Boston
Consulting Group estimated that 65% of online transactions are abandoned at the
"shopping cart" stage due to existing payment mechanisms.
Comparative Advantages
- Simple Buying Process
Buying with C7 is a simple two-step process - click and buy. The simplicity encourages
impulse buying on consumer's part.
- New revenue potential
Instead of charging a hefty price for aggregated content, merchants can segregate
the content and charge lower price.
- Pricing options
C7 Micropayment System supports payments as low as 1 cent, thus giving merchants
the freedom to charge users for digital goods that they could have never charged
for before.
- New customer base
C7's payment system opens up new market segments for merchants. Merchants can
now reach customers internationally, customers without credit cards and other
payment mechanisms.
- Co-exists with other payment systems
C7's payment solution would be a complement to your existing payment solutions.
Credit cards can be used for high price products, while C7 can be used for low
price products.
- Easy to implement
Implementing C7 as a payment option is easy with APIs provided by C7.
- Low risk
Implementing C7 Micropayment System entails no investment on merchant's part.
- Secure
All transactions are verified using a rigorous and real-time identification method.
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