Internet Technology Group, owner of ISP Global Internet, has formed a joint venture with chip vendor Wave Systems to distribute a chip which provides secure internet payments, and will enable content providers to charge for information downloads and Web-based services.
ITG is in discussions with hardware manufacturers to establish OEM agreements. The Wavemeter chip is expected to be built into PCs and electronic devices. It can be ?charged up? after credit card details are given over the Web. Once the chip is charged, the user will be able to download data up to the level they have paid for.
ITG CEO Laurence Blackall said the firm was interested in agreeing deals in which the Wavemeter could be used to pay for software and games on a metered download basis. ?The beauty of this system is that it allows a small royalty to be made on each purchase by the vendor,? he said.
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