World currency

In the foreign exchange market and international finance, a world currency, supranational currency, or global currency refers to a currency in which the vast majority of international transactions take place and which serves as the world's primary reserve currency. In March 2009, as a result of the global economic crisis, China and Russia have pressed for urgent consideration of a global currency and a UN panel has proposed greatly expanding the IMF's SDRs or Special Drawing Rights.

Currencies have many forms depending on several properties: type of issuance, type of issuer and type of backing. The particular configuration of those properties leads to different types of money. The pros and cons of a currency are strongly influenced by the type proposed. Consider, for example, the properties of a complementary currency

PayPal

PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. PayPal serves as an electronic alternative to traditional paper methods such as checks and money orders.

A PayPal account can be funded with an electronic debit from a bank account or by a credit card. The recipient of a PayPal transfer can either request a check from PayPal, establish their own PayPal deposit account or request a transfer to their bank account. PayPal is an example of a payment intermediary service that facilitates worldwide e-commerce.

PayPal performs payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It sometimes also charges a transaction fee for receiving money (a percentage of the amount sent plus an additional fixed amount). The fees charged depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type.[1] In addition, eBay purchases made by credit card through PayPal may incur a "foreign transaction fee" if the seller is located in another country, as credit card issuers are automatically informed of the seller's country of origin.

On October 3, 2002, PayPal became a wholly owned subsidiary of eBay.[2] Its corporate headquarters are in San Jose, California, United States at eBay's North First Street satellite office campus. The company also has significant operations in Omaha, Nebraska; Scottsdale, Arizona; and Austin, Texas in the U.S., Chennai, Dublin, Berlin and Tel-Aviv. As of July 2007, across Europe, PayPal also operates as a Luxembourg-based bank.

e Bay

The online auction website was founded as AuctionWeb in San Jose, California, on September 3, 1995, by French-born Iranian computer programmer Pierre Omidyar [3] as part of a larger personal site that included, among other things, Omidyar's own tongue-in-cheek tribute to the Ebola virus.[4] In 1997, the company received approximately $5 million in funding from the venture capital firm Benchmark Capital.[5]

The very first item sold on eBay was a broken laser pointer for $14.83. Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken. In his responding email, the buyer explained: "I'm a collector of broken laser pointers."[6] The frequently repeated story that eBay was founded to help Omidyar's fiancée trade Pez Candy dispensers was fabricated by a public relations manager in 1997 to interest the media. This was revealed in Adam Cohen's 2002 book, The Perfect Store,[4] and confirmed by eBay.

Chris Agarpao was hired as eBay's first employee and Jeffrey Skoll was hired as the first president of the company in early 1996. In November 1996, eBay entered into its first third-party licensing deal, with a company called Electronic Travel Auction to use SmartMarket Technology to sell plane tickets and other travel products. The company officially changed the name of its service from AuctionWeb to eBay in September 1997. Originally, the site belonged to Echo Bay

Free Crdit Card for you

Payoneer is changing the way the world pays. We offer an easier, more cost-effective way to deliver payments online.

Payoneer is an issuer of Prepaid MasterCard® cards and is an ACH (e-check) facilitator so our partners can pay online directly to the recipients' co-branded debit cards or (US-only) bank accounts. Some of our benefits for partners include:

* Cost-effective method to deliver payments for you and for your recipients - particularly for international recipients. No steep bank fees, delays or hassles.
* The fully hosted solution including all payment options is normally integrated within 2 business days with minimal integration on your part.
* Universal - it can be offered to anyone over 18 (13 with parental involvement). No bank account necessary.
* Control employee spending - create and manage online company debit cards. Employees cannot spend more than the funds loaded on the card.
* Reinforce your brand - the co-branded card can have your company's name or logo imprinted on it.
* An easy-to-use Web interface to track transactions.
* We provide full back-office functions and customer support.
* Online comprehensive reporting and control over payments.
* Secure and trusted - top-of-the-line secure technology and stringent regulations for customer privacy, authentication and identity verification.
* Full compliance - Payoneer complies with the required KYC (Know Your Customer), BSA (Bank Secrecy Act), AML (Anti-Money Laundering) procedures and OFAC (Office of Foreign Assets Control)

Visa Credit cards

Visa Inc. (NYSE: V), commonly referred to as VISA (Visa International Service Association), is a multinational corporation based in San Francisco, California, USA. The company operates the world's largest retail electronic payment network, managing payments among financial institutions, merchants, consumers, businesses and government entities. Before Visa Inc's IPO in early 2008, it was operated as a cooperative of some 21,000 financial institutions that issued and marketed Visa products including credit and debit cards.

In 2006, according to The Nilson Report, Visa held 44% of the credit card market share and 48% of the debit card market share in the United States.[2]

E-money

Alternative systems

Technically electronic or digital money is a representation, or a system of debits and credits, used to exchange value, within another system, or itself as a stand alone system, online or offline. Also sometimes the term electronic money is used to refer to the provider itself. A private currency may use gold to provide extra security, such as digital gold currency. Also, some private organizations, such as the US military use private currencies such as Eagle Cash.

Many systems will sell their electronic currency directly to the end user, such as Gogopay, Paypal, WebMoney and Wirex, but other systems, such as Liberty Reserve, sell only through third party digital currency exchangers.

In the case of Octopus Card in Hong Kong, deposits work similarly to banks'. After Octopus Card Limited receives money for deposit from users, the money is deposited into banks, which is similar to debit-card-issuing banks redepositing money at central banks.

Some community currencies, like some LETS systems, work with electronic transactions. Cyclos Software allows creation of electronic community currencies.

Ripple monetary system is a project to develop a distributed system of electronic money independent of local currency.

HSDPA, wi-Fi

The High-Speed Downlink Shared Channel (HS-DSCH) lacks two basic features of other W-CDMA channels—variable spreading factor and fast power control. Instead, it delivers the improved downlink performance using adaptive modulation and coding (AMC), fast packet scheduling at the base station, and fast retransmissions from the base station, known as hybrid automatic repeat-request (HARQ).
[edit] Hybrid automatic repeat-request (HARQ)

HARQ uses incremental redundancy, where user data is transmitted multiple times using different codings. When a corrupted packet is received, the user device saves it and later combines it with the retransmissions, to recover the error-free packet as efficiently as possible. Even if the retransmitted packets are corrupted, their combination can yield an error-free packet.
[edit] Fast packet scheduling

The HS-DSCH downlink channel is shared between users using channel-dependent scheduling to make the best use of available radio conditions. Each user device periodically transmits an indication of the downlink signal quality, as often as 500 times per second. Using this information from all devices, the base station decides which users will be sent data on the next 2 ms frame and how much data should be sent for each user. More data can be sent to users which report high downlink signal quality.

The amount of the channelisation code tree, and thus network bandwidth, allocated to HSDPA users is determined by the network. The allocation is "semi-static" in that it can be modified while the network is operating, but not on a frame-by-frame basis. This allocation represents a trade-off between bandwidth allocated for HSDPA users, versus that for voice and non-HSDPA data users. The allocation is in units of channelisation codes for Spreading Factor 16, of which 16 exist and up to 15 can be allocated to HSDPA. When the base station decides which users will receive data on the next frame, it also decides which channelisation codes will be used for each user. This information is sent to the user devices over one or more "scheduling channels"; these channels are not part of the HSDPA allocation previously mentioned, but are allocated separately. Thus, for a given 2 ms frame, data may be sent to a number of users simultaneously, using different channelisation codes. The maximum number of users to receive data on a given 2 ms frame is determined by the number of allocated channelisation codes. By contrast, in CDMA2000 1xEV-DO, data is sent to only one user at a time.
[edit] Adaptive modulation and coding

The modulation scheme and coding is changed on a per-user basis depending on signal quality and cell usage. The initial scheme is Quadrature phase-shift keying (QPSK), but in good radio conditions 16QAM and 64QAM can significantly increase data throughput rates. With 5 Code allocation, QPSK typically offers up to 1.8 Mbit/s peak data rates, while 16QAM offers up to 3.6. Additional codes (e.g. 10, 15) can also be used to improve these data rates or extend the network capacity throughput significantly.
[edit] Other improvements

HSDPA is part of the UMTS standards since release 5, which also accompanies an improvement on the uplink providing a new bearer of 384 kbit/s. The previous maximum bearer was 128 kbit/s.

As well as improving data rates, HSDPA also decreases latency and so the round trip time for applications.

Along with the HS-DSCH channel, three new physical channels are also introduced: HS-SCCH, HS-DPCCH and HS-PDSCH. The High Speed-Shared Control Channel (HS-SCCH) informs the user that data will be sent on the HS-DSCH 2 slots ahead. The Uplink High Speed-Dedicated Physical Control Channel (HS-DPCCH) carries acknowledgment information and current channel quality indicator (CQI) of the user. This value is then used by the base station to calculate how much data to send to the user devices on the next transmission. The High Speed-Physical Downlink Shared Channel (HS-PDSCH) is the channel mapped to the above HS-DSCH transport channel that carries actual user data.

In later 3GPP specification releases HSPA+ increases data rates further by adding 64QAM modulation, MIMO and dual carrier (DC) operation, i.e. two 5 MHz carriers are used simultaneously.