Peppercoin has announced Peppercoin 2.0, a small payments solution that is designed to reduce transaction processing and customer service costs. Consumers can use their credit cards to make purchases with the merchant, with no specialized account pre-enrollment required. Peppercoin 2.0 does not require pre-enrollment or pre-deposit of funds; consumers enter their credit or debit card information with the merchant online as usual, or swipe their card through a reader, and the transaction is automatically processed by Peppercoin. The solution provides merchants with an online customer care system Peppercoin 2.0 handles payments for a mix of business models, from pay-per-use to subscription services-and both credit and debit cards.
Peppercoin 2.0 is comprised of a Small Payment Gateway, which is available as a Peppercoin-hosted service or run by the merchant and functions like a traditional Payment Gateway; a Customer Self-Care Module with merchant-configurable business rules; and a Payment Processing Service, which interfaces with the Small Payment Gateway to enable Universal Aggregation. Peppercoin charges fees for processing payments on behalf of its merchant customers. On average, Peppercoin's fees are typically 10 cents or less for a 99-cent transaction. Peppercoin 2.0 will be commercially available in Q3 2004.