Visa International will use an Internet payment system called NetBill, developed at Carnegie Mellon University. NetBill specializes in facilitating low transaction costs incurred for accessing information, such as journal articles, book chapters, software and video clips. "It's a drop in the bucket now, but its potential is unbelievable," says a Visa spokesman. NetBill customers will deposit a lump sum in a NetBill account, and then draw on that sum as they buy information off the Internet. Eventually, users will be able to charge the information on their credit cards.
(Wall Street Journal 2/15/95 B6)