Belgium-based start-up company Paycento has developed an online payment system which enables internet users to pay for newspapers, music and other low-priced goods and services via social networks including Facebook, Twitter or LinkedIn.
As a result, people who want to read a single article or download music will be able to pay without having to fill out forms or enter their credit card details on the website. In order to make an online payment, users must have an online Paycento account, which they will afterwards link to their Facebook, Twitter and LinkedIn accounts.
The Paycento technology is not being used by online publishers yet. However, the company has unveiled that a European media company is currently testing a beta version. Paycento has revealed plans to gather about EUR 5 million from venture capitalists.
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