YeePay Micropayments

Remember we talked about the problem of small monetary transactions under $1? The problem is that the cost of processing the transaction eats up the profit. We talked about http://www.peppercoin.com/ as trying to solve this dilema by aggregating a bunch of these small transactions and processing them as one single big transaction.

Today, there is a Chinese company who has taken a different approach. They are adding these small transactions to a user's phone bill. When the user buys anything via their mobile device, the bill is added to the user's mobile service bill. That's pretty clever because when you look at your phone bill you already can see calls that cost just a few cents. Now you will be seeing other items, say like a song download, show up on your phone bill.

Here is an article about the Chinese company YeePay.com http://www.c-enter.hu/center/0258102.html