SatoshiPay, a micro-transaction bitcoin payment company, has announced the launch of its new login-free paywall.
The company, which is based in London, gives content creators the opportunity to monetize their content with transactions that settle almost instantly on the blockchain, “Nanopayments can be fractions of a cent. They are instantly settled and can be executed at high frequency.” said Meinhard Benn, CEO and Founder of SatoshiPay.
Other payment methods such as PayPal and CC processing service are not suitable for smaller transaction due to the fees involved, in addition to the risk of chargebacks and fraud.
“This enables completely new ways of monetising web content and digital goods in general. In an increasingly digital society, nanopayments allow for new business models that existing payment technology cannot facilitate due to its fee structure and trust models,”
The new paywall simplifies the transaction process because potential customers are not required to fill out any login/registration forms – purchases are completed with a few clicks of the mouse.
A free WordPress plugin has also been released to aid content creators with installing the new paywall on their sites.
According to statements by Mr. Benn, the new paywall was designed to make micro-transactions more fun for customers. SatoshiPay took inspiration from the gaming industry in its approach to designing the new system.
“We looked at games, learned a lot and incorporated the findings into our product.”
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