Bitpass was an online payment system for digital content and services. Kurt Huang was a co-founder; Doug Knopper was hired as CEO in November, 2005. Bitpass was a California corporation with headquarters in Silicon Valley. It was founded in December, 2002 and partnered with major technology and financial services companies such as Microsoft, PayPal, the Royal Bank of Scotland and First Data.
On January 19, 2007 Bitpass announced that they were sh...
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Bitpass was an online payment system for digital content and services. Kurt Huang was a co-founder; Doug Knopper was hired as CEO in November, 2005. Bitpass was a California corporation with headquarters in Silicon Valley. It was founded in December, 2002 and partnered with major technology and financial services companies such as Microsoft, PayPal, the Royal Bank of Scotland and First Data.
On January 19, 2007 Bitpass announced that they were shutting down, and operations officially closed on January 26, 2007. No immediate reason for closure was given.
For the content buyer, Bitpass worked like a pre-paid telephone card: the buyer signed up for the service and put money into an account using a credit card or PayPal. This stored-value amount could be used to purchase digital content or services.
Transaction fees were paid by the content provider. For payments under $5, the charge was 15% of the price paid by the buyer (Bitpass Professional merchant account fee).
From: Bitpass Inc. ...
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