Ennovent Global Network to apply radically innovative FairPay payment
VIENNA, Austria (PRWEB) – October 11, 2011 - ennovent is introducing a
radically new payment model to one of its online services, the
“Requests,” to ensure fair prices for members and the financial
viability of the service. Requests allow network members to source
human, financial and other key resources with the support of other
network members through a crowdsourcing mechanism.
has become the first commercial venture to undertake use of the FairPay
Peter Scheuch, founder of ennovent says that,
“As a for-profit company with strong ethical values, we believed that
the Fairpay model would be a good solution to setting fair prices for
the value provided through our service.”
turns conventional ideas of transactions on their head, with an entirely
new architecture for buyer-seller relationships in a networked economy.
members determine the price that seems fair to them
after they receive the value, while also having incentive
to set a price that ennovent will also consider to be fair.
If the price is considered unfair, that will limit future
opportunities for that member to get services on a FairPay
Unlike conventional Pay What You Want pricing that often results in
prices that are unfair to the seller, the FairPay process creates an
ongoing dialog that lets users pay what they want as long as both they
and ennovent agree prices are being fair. This ensures that users pay a
price that provides ennovent with a fair profit, and does it in a way
that continually adapts to the value delivered to each individual user
for each transaction.
The result is that FairPay solves the problem that ennovent faced of
setting the "right" price for such widely varying transactions, and
instead applies an adaptive process through a user dialog. FairPay
provided a structure for such dialog that can be responsive to extreme
differences in value obtained, results, costs incurred by ennovent, and
the user's ability to pay.
ennovent is starting with the "Free
of FairPay within the next weeks. In addition to introducing a new
payment model, this approach provides ennovent a rich understanding of
the resource needs
of its members, and their perception of value and willingness to pay,
while limiting ennovent’s financial investments and risks.
Richard Reisman, inventor of the Fairpay pricing model shares with us
his thoughts on this partnership: “Teleshuttle has been pleased to
collaborate with ennovent to refine and test the FairPay process in a
commercial application that promises to showcase its power.”
Teleshuttle is developing FairPay as a solution to the dilemma of
pricing digital offerings that is win-win for both buyers and sellers
over a very wide range of value propositions. That can create a more
efficient and sustainable economy, changing the way business is done in
the 21st century. Teleshuttle offers free consultation to businesses
interested in applying the FairPay process.
To learn more about Fairpay pricing,
To join ennovent please
ennovent promotes for-profit innovations for sustainability at the base
of the economic pyramid. We bring together entrepreneurs, investors and
experts to discover, finance and scale up the best innovations in
energy, water, food, health and education. We are guided by strong
ethical values and strive to fill a valued niche in the effort to solve
problems of sustainability in developing countries.
Teleshuttle collaborates with partner companies to develop the
innovations of founder Richard Reisman. Reisman is a successful inventor
and thought leader, advancing powerful interactive tools and media for
human communication, collaboration, culture, and commerce since long
before the Web. He has managed and consulted for corporations of all
sizes, developed a variety of pioneering online services, and holds 18
patents, now licensed by over 100 companies (with dozens more pending).