Order and delivery of digital information with costs requires an economic method of instant digital payment especially when dealing with widely distributed, anonymous users and small amounts. Such factors make traditional invoicing processes economically unfeasible. A large number of digital payment schemes and system proposals have been devised. This report provides a classification and market study of digital payment systems. An extensive criteria catalogue is presented explaining typical features of and requirements to digital payment systems. Clustering tables according to technological and economical aspects permit a quick overview over the status of digital payment systems. Currently 51 individual payment systems are presented and classified in this report. The market study shows that for high value payments secure credit card presentations are dominating and with the proposed standard of SET a common approach seems to be at least likely. For small and especially very low value payments the market is highly diversified and likely to remain so. There exist few small or micropayment systems that even made it to the prototype stadium, though a great many interesting schemes have been proposed especially for very low value payments. As it is very improbable that there will be single dominating payment system suitable for all sizes of payments integration initiatives become important. Therefore this report also provides a brief summary of existing payment system integration initiatives.
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Order and delivery of digital information with costs requires an economic method of instant digital payment especially when dealing with widely distributed, anonymous users and small amounts. Such factors make traditional invoicing processes economically unfeasible. A large number of digital payment schemes and system proposals have been devised. This report provides a classification and market study of digital payment systems. An extensive criteria catalogue is presented explaining typical feat...
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