Instead of periodically printing new catalogs, companies could update online catalogs for a fraction of the cost. Instead of shipping computer diskettes across the country, companies could allow software to be downloaded from the company's web page. Company policies, product descriptions, career opportunities, and financial sheets all became immediately available through the Web. In less than half a decade, the World Wide Web has brought innumerable changes to the ways companies do business. The major issue restraining the commercial use of the World Wide Web is the lack of a trusted, secure system of paying for products or services.
Many payment systems are in use, but no system has gained widespread acceptance.
This chapter discusses the major systems and the prospects for future payment systems. Prospects for the future of microcent transactions will also be discussed.