| Swedish ISP and telco Telia will soon introduce its new Telia PayIT service, a new micro payment system which invoices services via the customer's phone bill.
PayIT expects the new solution to make it more convenient and secure to pay for services on the Internet. The user does not need to register or sign any agreement, and is identified by his or her phone number. The service will work for recurring payments in amounts up to SEK 200 (US$25).
Stores and e-commerce sites that want to provide payment options with this service must register first at Telia.
When a user clicks on the PayIT-icon for the first time, small footprint software is downloaded and installed in the user's computer. This software contains functions for encryption and authentication technology. When the user confirms a purchase order, Telia invoices the consumer on the normal phone bill--as long as the user is a Telia customer, which qualifies the vast majority of phone users in Sweden.
Telia expects PayIT to become the leading payment system on the Internet for the purchase of instantly-available digital services. The power of this service is its simplicity and the security that empowers the consumer, said Hakan Rossberg, markerting manager at Telia Card.
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Sweden has approximately 3.6 million Internet users, which is more 50 percent of the population. Most have telephone accounts with Telia, which means the service will reach a wide audience.
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Telia Launches Micro Payment System