Starting soon, InternetCash by SpendCash.com will allow consumers to buy whatever they want over the Internet, from goods and services requiring the smallest micropayments to major purchases, conveniently and with complete security and privacy. Available to everyone regardless of credit or credit history and featuring some of the most advanced online payment technology currently available, InternetCash(TM) is set to become the standard for online payments, with the potential for bringing billions of untapped dollars into e-commerce.
Current e-commerce payment methods make online shopping nerve-wracking. Credit cards endanger consumer security, potentially exposing private personal data and credit information for prying eyes to potentially see, resell and abuse. Checks and money orders are too slow and cumbersome, requiring extra days for mailing and clearance. InternetCash(TM) rises above these shortcomings by combining the best features of each of the most popular current forms of payment. Like cash, it is completely anonymous. Like a credit card, it permits instant processing and settlement of online transactions. Unlike cash and credit cards, no one else can use your InternetCash(TM) without your permission, as each card is protected by a PIN that you select. InternetCash(TM) gives consumers the best of all currently available payment systems and more.
InternetCash(TM) is perfect for consumers who do not have access to credit or traditional banking relationships. Teenagers, for example, represented over $140 billion in disposable income in 1998, most of which could not be spent online because of the age group’s lack of access to credit cards. InternetCash(TM) is poised to introduce those dollars into the Internet economy.
InternetCash(TM) is also the solution for those who want to protect their privacy. Absolutely no personal or credit information is ever exchanged between SpendCash.com and the retailer during the course of the payment transaction. And consumers can use InternetCash(TM) itself with the same anonymity as using regular cash. Secure, anonymous, fast and reliable — InternetCash(TM) lets surfers shop the Internet however they like.
InternetCash(TM) also permits online micropayments — transactions of less than $10 each — which credit cards refuse to process. Consumers will no longer be forced to make upfront bulk payments to merely gain access to what are typically pay-per-play services — such as music downloads and gaming. SpendCash.com can process InternetCash(TM) transactions in amounts as small as 50 cents. With InternetCash(TM), Internet industries that have been hobbled by unreasonable payment restrictions imposed by credit cards can now give online customers what they want and let them pay for it the way they want.
Other Internet payment contenders, both past and present, have been unable to bring viable cash-based payment to the Internet due to vexing security and execution problems. The SpendCash.com team has built a unique and sophisticated payment settlement system from the ground up, supported by advanced and reliable electronic processing centers, that finally allows consumers to have a completely secure, reliable and instantaneous cash transaction over the Internet with absolute privacy and, at last, peace of mind.
“The benefits of making cash-equivalent payments on the Internet have been quite apparent for some time, but no one has been able to execute a system that works,” said Dr. Yiannis Tsiounis, Co-founder and CTO of SpendCash.com. “Consumers want it — they’ve been clamoring for it — and with SpendCash.com’s dedicated team of experts in the field of banking, encryption, electronic payment and business development, InternetCash is going to finally deliver it into their hands. Our patented technology will grow the Internet economy and have a dramatic impact on the volume of online transactions in the coming year.”
SpendCash.com, founded in February 1999 and headquartered in New York City, is a privately-held company that builds e-commerce consumer products and infrastructure for the Internet. With its introduction of InternetCash(TM), SpendCash.com is poised to revolutionize e-commerce and open to it currently untapped consumer markets.Details