Smart Accounts
A micropayment system deviced for artists and fundraisers.
Info at http://www.smart-accounts.org/
"I designed a new way of making small payments online, with advantages over current systems such as credit cards or PayPal. It uses secret, computer-controlled ("smart") payment codes that can reproduce any number of "children" codes, through any number of generations, creating family trees that inherit options, properties, and services. Anyone with a smart code can pay anyone else who has one. And anybody who buys or is given a smart code can use it immediately, like a universal gift card that can receive money also -- without ever registering, logging in, giving personal information, or having a user name or password.
This payment system could help artists sell downloads of their work at low prices through social networks worldwide, with little or no startup expense or hassle. It could help solve the download-copy problem by allowing supporters of the artist or the art to buy download permissions in bulk and give them away to selected communities, which could pass them on -- so that most downloads could be free while the artist still gets paid for every one. Also, smart codes will help organizations raise money -- especially for causes likely to be recognized as historically important (for reasons explained below).
The estimated processing cost per financial transaction with smart codes is about a tenth of a cent." (http://www.smart-accounts.org/)