| Bitpass, Inc. | |
|---|---|
| Type | Private |
| Founded | Mountain View, California (2002) |
| Headquarters | San Mateo, California, USA |
| Key people | Kurt Huang, Founder Doug Knopper, CEO |
| Industry | Consumer Internet, Digital content, Online payments |
| Products | Bitpass buyer account, Bitpass Professional merchant account, Bitpass Studio merchant account |
| Revenue | undisclosed |
| Employees | undisclosed |
| Website | www.bitpass.com |
Bitpass was an online payment system for digital content and services. The term privately held company refers to ownership of a business company in two different ways first referring to ownership by non-governmental organizations and second See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. San Mateo ( "san muh-TAY-o") is a city in San Mateo County, California, United States The United States of America —commonly referred to as the Kurt Huang is co-founder president and chief product officer of BitPass. For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services Employment is a Contract between two parties, one being the employer and the other being the employee. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages Kurt Huang was a co-founder; Doug Knopper was hired as CEO in November, 2005. Kurt Huang is co-founder president and chief product officer of BitPass. Bitpass was a California corporation with headquarters in Silicon Valley. For the valley nicknamed "Silicone Valley" see San Fernando Valley. It was founded in December, 2002 and partnered with major technology and financial services companies such as Microsoft, PayPal, the Royal Bank of Scotland and First Data. Microsoft Corporation is an American multinational Computer technology Corporation, which rose to dominate the Home computer PayPal is an E-commerce business allowing payments and Money transfers to be made through the Internet. The Royal Bank of Scotland plc ( Scottish Gaelic: Banca Rìoghail na h-Alba) is one of the retail banking subsidiaries of the Royal Bank of Scotland Group First Data Corporation is a Payment processing company based in Greenwood Village Colorado.
On January 19th, 2007 Bitpass announced that they were shutting down, and operations officially closed on January 26th, 2007. No immediate reason for closure was given.
For the content buyer, Bitpass worked like a pre-paid telephone card: the buyer signed up for the service and put money into an account using a credit card or PayPal. This stored-value amount could be used to purchase digital content or services.
Transaction fees were paid by the content provider. For payments under $5, the charge was 15% of the price paid by the buyer (Bitpass Professional merchant account fee).
Email Announcing Shut Down
From: Bitpass Inc. (mailto:Support@bitpass.com)
Sent: Friday, January 19, 2007 5:52 PM
To:
Subject: Bitpass is Discontinuing Service
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 Digital River to provide operational support during the period prior to shut down. As of today, January 19, 2007, all Bitpass Buyers with US dollar denominated accounts are being notified that they will have seven (7) days to spend any amounts that currently exist in their Bitpass Account.
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 Digital River will begin the process of refunding all unspent monies to the accountholder.
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.
External links
- Bitpass site
- Misunderstanding Micropayments - article by cartoonist Scott McCloud about micropayments and Bitpass
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