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FYI: eCash auf PalmPilot
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- Subject: FYI: eCash auf PalmPilot
- From: Djenia <firstname.lastname@example.org>
- Date: Mon, 02 Aug 1999 03:07:13 +0200
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Hört sich vielversprechend an...
--- snipp ---
Posted at 4:55 p.m. PDT Sunday, July
New Software lets you 'beam' money
BY MARTHA MENDOZA
AP Business Writer
WOODSIDE, Calif. -- Sipping coffee at
Buck's Restaurant early Friday, a venture capitalist
beamed a $3 million investment through
his Palm organizer to the happy, startup CEO sitting
Patrons munching their poached eggs and
hash browns couldn't actually see the flurry of
money flying through the air, but
that's virtually what happened.
Within seconds, the words: ``Would you
like to accept the money?'' popped up on Confinity
CEO Peter A. Thiel's Palm organizer. He
quickly tapped ``Yes.''
``Of course that's an understatement,''
said Thiel. ``It should say, 'Yes, yes!'''
Thus came the official launch of
PayPal, an instant payment service that allows people to
exchange money through their Palm
Here's how it works: registered users
type the amount they want to pay another person into their device. They
tap a ``Pay'' button, and
then point their device at the
recipients' Palm organizer.
The information is sent via infrared
beam, the same way a remote control sends messages to a television. The
recipient later synchronizes
his device at a personal computer,
directing PayPal to either deposit the money directly into their bank
account, send them a check, or just
keep it in an account so they can pay
someone else next time.
Thiel, who successfully pocketed his $3
million through his PayPal on Friday, said he expects most users to be
between 20 and 35 years
old, transferring much smaller amounts.
The software, which is downloaded free
from the Internet, is expected to be ready for widespread use this fall.
In the coming years, plans
are to have the system work with
cellular phones and pagers as well.
Like many startup high tech companies
in the Silicon Valley, Confinity is focusing first on attracting users
-- they're hoping for about
100,000 next year -- before worrying
about how to make it profitable.
In the meantime, they do plan to skim
some ``float cash'' off the interest on accounts from PayPal users while
their money waits to be
beamed away. A similar system is used
by travelers check companies, that profit off interest from money
waiting in customer accounts
between the time when checks are
purchased and cashed.
Thiel, a Stanford graduate and a former
securities lawyer, worked as a high tech investor before launching his
12-employee company last
year. With his Chief Technology Officer
Max Levchin, who founded NetMeridian Software, and backed by hand-held
Dan Boneh, a computer science professor
at Stanford University, Thiel said they are confident their system is
``safer and easier than cash,
credit cards or checks.''
Rob Sterling, an analyst for Jupiter
Communications in New York, said he thinks plenty of the 4 million Palm
organizer users will add
PayPal to their device.
``If two people go out for dinner and
decide to the split the tab, one person points their palm device at the
other persons palm device and
it's done. The money is passed,'' he
said. ``You're basically enabling the person to transmit money, and I
think there's a niche for that.''
EDITOR'S NOTE: PayPal is expected to be
available this fall at www.confinity.com