Electronic currency refers to money or scrip which is exchanged only electronically. Typically, this involves use of computer networks, the internet and digital stored value systems. One of the web services that provide the use of electronic currency as a transit payment system is PayLoadz.
PayLoadz (http://www.payloadz.com/) is a privately held company based in New York, NY. With over 70,000 merchants selling over 400,000 digital goods, they are a clear leader in the space of downloadable goods eCommerce. It is a service which not only provides the means to sell intangible products such as software, e-books, digital art, manuals, article and other files, but also manages the transaction through eBay and provides the server space to store the files. PayLoadz is an automated deliver service which means that the seller can go on vacation without worrying about sending download links to customers every time a payment is made. This files can be either downloaded via hyperlink or send via e-mail based upon seller’s product.
PayLoadz has launches a new PayLoadz Express Service (http://express.payloadz.com), which is the biggest enhancement to its services since its launch in 2002. The new service provides a simple way for anyone, even inexperienced sellers, to begin selling products without a learning curve. Before the launch of PayLoadz Express service, anytime a person wanted to sell a file would have to register for a service, install complicated scripts or program their own solution. Now, with the new system, a person simply fills out a few fields, uploads his/her file and he/she is instantly selling her goods. The system relies on PayPal for payment processing and the standard PayLoadz service backend to handle the file delivery.