Peppercoin upgrades small payments system
Peppercoin, a payments company that enables profitable, new business models for low-priced digital content and physical goods, today announced Peppercoin 3.0 for Financial Service Institutions (FSIs) and merchants.
0
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Peppercoin 3.0 is the only solution that helps FSIs and merchants build market adoption for small payments by supporting the following business models:
Pay-as-you-go Subscription Pre-paid Post-paid
The Peppercoin Small Transaction Suite allows merchants to accept consumers' preferred and trusted payment mechanisms, their credit and debit cards, for small payments. Peppercoin offers a hosted service for merchants that integrates easily with existing payment systems to increase transaction volumes, revenues and profits for both merchants and FSIs. At the same time, it reduces transaction processing and customer service costs associated with small payments.
"As a vending operator, we believe Version 3.0 of Peppercoin's Small Transaction Suite will grow both revenue and profitability, and ultimately afford North County Vending the financial flexibility to enter new vending markets that to date have been unappealing due to profitability concerns," said John Sowell, CEO of North County Vending. "By offering consumers flexibility - such as the ability to transact with their preferred cards in a pre-paid or pay-as-you-go manner - our sales will increase."
"Reino Parking Systems has led the parking industry in providing alternative payment methods. However, the continued challenge has always been how to handle transactions of less than $5 profitably, and in a way that is accepted by consumers," said Mark Ralston, COO, Reino Parking Systems. "Peppercoin provides the only small payments solution that allows market leaders in the physical world, like Reino, to card-enable cash and coin transactions profitably. With the Small Transaction Suite, consumers can pay for on-street parking with their preferred credit and debit cards in the manner most appealing to them, whether it's on a prepaid, pay-per-use or subscription basis."
Peppercoin extends the existing credit and debit payment system to enable acquiring banks, issuing banks, payment processors and the credit card associations to capture a greater share of small-payment transactions. By offering the Small Transaction Suite to their merchant customers, these FSIs will participate in large new revenue streams generated by increased transaction flow to their payment systems. For this reason, key FSIs such as First Data Merchant Services, Chase Merchant Services and Moneris Solutions have established relationships with Peppercoin.
"Peppercoin is the only small-payment vendor that addresses the digital, mobile and physical point-of-sale markets," said Mark Friedman, president of Peppercoin. "With the ability to support pay-as-you-go, pre-paid, subscription and post-paid payment methods, Peppercoin enables both merchants and FSIs the broadest range of both pure and blended small payment business models from a single suite of payment applications."
"As the market for low-priced electronic transactions gains speed, leading services will distinguish themselves through the ability to support their customers' needs across multiple environments and transaction types," said Ed Kountz, Senior Analyst, Emerging Technology Solutions, Tower Group. "Peppercoin 3.0 is an example of the types of advances that will help move user centric micropayments into the mainstream."