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'The global mobile adult content market currently grows at a rate of 19% per annum.' - Juniper Research, September 2006


Upaid to launch payment service for online content and m-commerce markets
Source : Finextra.com

Finextra.com

Online and mobile payments specialist, Upaid, is to launch its own membership-based payment services specifically aimed at the online content and the m-commerce markets.

Until now, Upaid has worked under the guise of better known brands, such as Visa and IBM, but will offer this service under a new, distinct brand directly to small companies, providing a far better deal than currently available to them through banks or mobile operators.

Upaid has nine years' experience with on-demand payment solutions for the web and mobile channels. The company has decided to offer its service directly to content providers because it is concerned that the high fees and a lack of understanding by payment companies are constraining growth in new or niche markets by forcing lower margins for merchants and higher charges for consumers.

The service will launch in January and will be open to UK and European vendors. Upaid's patented payment platform is highly secure, due to the methodology it users for customer authentication and authorization, making it ideal for online payments.

Simon Joyce, CEO, Upaid, said: "New merchants, especially those in new or niche markets, who wish to extend their payment options to major credit and debit cards have difficulty finding a supportive bank. The result is that they have to pay a hefty premium for accepting card payment or limit their potential market. The relationship we have with our bank partners allows us to provide a dependable and more receptive service tailored to the needs of each content sector."

Consumers who register through the merchant's website will be able to pay in pounds sterling, euros, US dollars and Swiss francs. The service will work with Visa and MasterCard initially, adding other cards as demand grows.

 
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