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Making The List

Easy Money

Bluemoney Software Corp. has developed electronic wallet software that may make it safer and simpler for small businesses to process customers' Internet purchases.

Electronic wallets, which electronically track cash, typically work with software on a server at the site of the business owner, says Michael Sullivan-Trainor, director of Internet research for IDC/Link, an information technology research firm in Framingham, Massachusetts. With BlueMoney, the software is integrated into your Web site, and consumers can make purchases from their PCs.

"There's no software for customers to download; it's all processed on the Internet," says BlueMoney co-founder and CEO John Sweet. "If your customer doesn't have a wallet set up, they can create one during their transaction."

To make a purchase, customers choose the item from your Web site, then click on the BlueMoney icon to pay for it. Customers' credit card numbers are stored only on the BlueMoney server. The bottom line? BlueMoney is more convenient for customers, says Sweet, and that could mean more sales for entrepreneurs.

You can download the software for free at http://www.bluemoney.com without tech support through June. If you want support, the package costs $995, plus $295 for direct-deposit Internet processing capabilities. The company charges 5 cents per transaction but waives the first 3,000 transactions per month.

Contact Sources

BlueMoney Software Corp., e-mail: jsweet@bluemoney.com, http://www.bluemoney.com

Grant Thornton, e-mail:desposito@gt.com, http://www.gt.com

IDC/Link, e-mail: msullivan-trainer@idcresearch.com, http://www.idcresearch.com

Strategic Management Group Inc., 3624 Market St., University City Science Center, Philadelphia, PA 19104, http://www.smginc.com

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This article was originally published in the January 1998 print edition of Entrepreneur with the headline: Making The List.

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