Credit card giant launches micropayment system

A new online micropayment system has been devised by Visa.

A credit card giant has launched a new micropayment system.

Visa has introduced a new device called payclick, which works in a similar way to PayPal, Tech World reports.

The money repository system - which was developed in Australia - is designed to give security to teenagers purchasing online content which might include games or music.

In order to fund products bought online people can pay into the system with a bank account or Aussie credit card among other methods.

Payclick general manager Greg Storey noted the product includes functions which allow parents to control what their children can purchase over the internet because any under-18s who wish to use it need to have an elder to sponsor the account.

He added: "The service is free for consumers and the merchant fees are competitive with other offerings."

This news comes after Angus Kidman, writing for Life Hacker, declared that shopping online is much easier with credit cards.

By Joe Letts