is a micropayment service that facilitates online content access transactions by integrating the processes involved in buying and selling content, and making it practical to charge very small amounts of money. In the BitPass system, transaction fees are paid by the content provider. Micropayments are by definition very small sums, so the fee is usually just a few cents. For the content buyer, the BitPass system works similarly to a pre-paid telephone card: you sign up for the service and put money into your account using a credit card or PayPal, which gives you credit towards the purchase of content. When the user agrees to pay the cost of access, their account is charged automatically rather than through a link to an external Web site for payment.
Doug Knopper
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
On January 19th, 2007 Bitpass announced that they were shutting down, and operations officially closed on January 26th, 2007. Bitpass sent out an email to users saying it was closing Jan 26 (see below).
Dear Valued Bitpass Buyer,
We want to thank you for your past business, however due to circumstances beyond our control, we are discontinuing our operations.
We have partnered with
During this seven day period, US Buyers will not be able to further fund their account.
On January 26, all US Bitpass Buyer accounts will be closed and
All account records and materials will be retained for 60 days and available upon request.
Again we would like to thank you for your business and support.
Matthew Graves
Chief Operating Officer
Bitpass Inc.
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