The Internet allows sellers to cut out the middle men: importers, distributors, Walmart, etc. It also allows the creation of highly efficient marketplaces such as Amazon, Ebay, Froogle, Buy.com, etc. These marketplaces are efficient because of competition. There is also competition in package delivery services: UPS, FedEx, DHL, national postal services, etc. Marketplaces and delivery are two parts of the e-commerce circle. The third part is payment. It needs to be modernized. The current offerings are hampered by rigid fees, high risk, and lack of privacy. I propose a modern payment system that will breathe new life into e-commerce. Such a payment system will allow the Internet to facilitate much more International commerce than it does today.
