One website’s visitor is another website’s customer, and bringing customers and retailers together is now a billion dollar international industry. Whilst Internet traffic crosses international borders with ease, payment for supplying that traffic does not. Members of the online publishing industry have come up with a novel solution – they have set up their own member-only international payments system.
Commerce involves the exchange of value. By the end of 20th century, the exchange of financial value had evolved from coins, notes and other instruments to sophisticated epayment systems. In e-payments, the exchange of value is represented by the exchange of data. It is easy, fast and cheap to transfer data, but these benefits come at a cost. The physical authenticity of payment instruments such as notes and coins can be checked. In e-payments, the parties involved will probably never even see or talk to each other.