In this interview with CalvinAyre.com’s Rebecca Liggero , SatoshiPay’s Meinhard Benn explains how nanopayments service comes in handy when consumers need to pay for an article, paragraph or graphic from an online publisher.
Are nanopayments the solution to ad blocking issues? SatoshiPay believes so.
The company has an interesting new product that could give online publishers a new revenue stream. SatoshiPay enables very, very small payments—or nanopayments—using Bitcoin to help consumers pay for an article, a paragraph or graphic from an online publisher.
“One transaction can be half a cent, and we that in the first use case for online content, so you can purchase, let’s say, a part of a paragraph or just one paragraph on a website and you don’t have to get a subscription or like be a long-time user of the website,” SatoshiPay’s Meinhard Benn told CalvinAyre.com.
With SatoshiPay, consumers can hop from one website to another and spend their balance that they’ve topped up beforehand.
“It’s kind of [a] cross website and it is completely… no downloads and no sign-ups, nothing,” Benn said.
SatoshiPay only accepts Bitcoin at the moment, but Benn said they plan on adding more traditional payment methods in the future.
“We’re planning to introduce other payment methods like a credit card top-up or other kinds of payment methods,” he noted.
SatoshiPay took home the top prize at the 2015 EiG Pitch last year, and also received a €160,000 investment from Kuala Innovations. The company had a soft launching last Halloween, when it introduced the product to selected blogs.
Benn said their goal is to expand the scope of micropayments beyond online content.
“We kind of do our market tests without kind of doing big research. We just go to the market ans see there… because this technology at the core can be used in many, many use cases starting with online content,” he said.